April 12, 2020 : UAE VAT refund for foreign businesses. If any of these deadlines fall on a weekend or bank holiday, the due date is shifted to the next working day. Face to face negotiations between the UK and EU have resumed in Brussels. Payment of Environment Protection Fee. CQ ending June 30, 2020. e-FILING & e-PAYMENT. E-book reporting is to begin on 1 October 2020. It will take only 2 minutes to fill in. Saudi Arabia has announced today that it will raise its Value Added Tax rate from 5% to 15%. 18, Monday. Deadline for Internet Filing January 15, 2020 Por Por 30 Value Added Tax return under Section 83 A VAT registrant must file with the District Office a return entailing output VAT and input VAT incurred in December 2019 and accordingly: (i) remit net output VAT; (ii) carry forward excess input VAT to the next month; or (iii) claim a Find out more about the temporary VAT cut. VAT Special Levy on Banks whose accounting year ends in November 2020. This saw the end of their 47-year membership in the European Union and the beginning of negotiations between the UK and the EU. [email protected], Taxback International needs the contact information you provide to contact you about our products and services. June 2020. Aside from consumers facing a likely sharp rise in prices, non-registered or exempt businesses will face heavy rises in unrecoverable input VAT. That is why our researchers compile the latest updates to VAT regulations and deadlines from around the world each month. 8 June 2020: VAT updates from EU countries such as Poland, Italy and Finland. The Tax/Zakat return for FY19 (ended December 31, 2019) is due on July 29, 2020 and VAT return for the relevant filing periods is due on July 31, 2020. Most businesses must keep digital VAT records and use software to submit VAT Returns. Jul 6, 2020 | Richard Asquith HMRC has confirmed that it ended its three-month VAT payments holiday on 30 June 2020. The UK believes they will not be in a position to implement full post-Brexit border controls on goods entering from the EU until July 2021. Extension of VAT deadlines 26 August 2020 July 2020 VAT return The following VAT related obligations have been extended by Dispatch no. 9 July - the deadline for repayment of VAT by businesses which have been granted payment extensions has been moved to 30 September 2020. On 12 June 2020 the UK formally told the EU that it will not seek an extension to the transition and negotiation period. A new temporary reduced rate of VAT of 5% was announced on 8 July 2020 for admission to certain attractions. This new process will be implemented in phases to give companies time to connect their accounting software with the government’s myDATA platform, and Greek established companies of any legal form are obliged to transmit their transaction data to the myDATA platform. This is the first time Michel Barnier and David Frost have met in person since March 2020. Don’t worry we won’t send you spam or share your email address with anyone. 30 Sunday. Companies that have decided to issue e-invoices through a licenced provider must start the electronic transmission of their e-invoice data from 20 July 2020; Companies that issue their invoices using other means (accounting software, ERP) must begin sending revenue invoice data on 1 October 2020; The transmission of retail sales receipt data will begin on 1 October 2020; For data related to sales documents issued from 1 January 2020 to 1 October 2020, businesses must transmit the relevant data by 31 December 2020; Accounting and tax details of expense documents issued from 1 January 2020 up to 1 October 2020 must be transmitted by 28 February 2021. Johnson is hoping a deal could be reached soon and there is a “very good” chance of getting a trade deal by December 2020. We also use cookies set by other sites to help us deliver content from their services. This temporary rate will apply from 15 July 2020 … The Federal Tax Authority (FTA) on Tuesday issued a directive on an exceptional basis providing an alternative date of May 28, 2020 for the deadline of submitting value-added tax (VAT… Contact us today to find out how we can help with effortless VAT Reclaim & Compliance. By: Hergie Ann De Guzman, CPA. For example, the fourth quarter 2019 VAT return must be submitted by 15 th February and paid by 20 th February. Quarterly VAT Return For FQ ending 29 February 2020 25 March 2020 24 May 20208 For the CQ ending ... 0 May 2020 15 July 2020 For FY ending 29 February 2020 30 June 2020 30 July 2020 9 The deadline falls on a non-working day. 1st New Fuel Rates (AFR) come into action for those using Company Cars They may postpone the August return payment from 25 September to 2 October 2020. A range of tailored end to end, forensics audit and compliance services to identify where errors are occurring, Learn why over 12,000 clients trust their VAT reclaim and compliance to us. You may unsubscribe at any time. It has now announced transitional rules that will apply. Quarterly VAT returns Note: Returns in the second quarter (April to June 2020) will not be extended. For any invoices issued before 1 July 2020, only invoices exceeding the HUF 100,000 threshold need to be reported; Invoices that are issued manually (without accounting/billing software) must be reported on the NTCA website with 4 days (or 5 days before 1 July 2020). We’ll send you a link to a feedback form. Click here for country-specific VAT rates, timelines and reclaim criteria. JULY 2020. Your guide to value-added tax (VAT, GST, MWST, etc.). Click here to get in touch today for more information. You can change your cookie settings at any time. 9 Oct - the monthly deadlines for filing VAT credit refunds has been extended during the COVID-19 crisis. MAY 2021 By 7th May. This is due to the COVID-19 crisis. The filing and/or submission shall be made on the next working day which is 15 June 2020. This postponement means that taxpayers do not have to send sales data to the Financial Authority, they do not have to issue receipts in accordance with the Sales Registration Act and they are not obliged to place an information notice. 10 February 2021. From 1 July 2020, the Bulgarian government will temporarily drop the VAT rate for ebooks from 20% to 9%. All content is available under the Open Government Licence v3.0, except where otherwise stated, Read about the arrangements following The Duke of Edinburgh’s death, keep digital VAT records and use software to submit VAT Returns, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases. Although the distancing measures introduced due to the COVID-19 pandemic are gradually being eased, the impact of the pandemic on businesses’ finances remains significant. The European Commission recently approved the proposed 6-month delay of the VAT e-commerce package, with the new date for implementation set for 1 July 2021. 29 Saturday. e-FILING/FILING & e-PAYMENT/PAYMENT . Everything you need to know about Value Added Tax and how to maximise your reclaim. We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. We are ISO 27001 certified and regulated to international banking standards. This is done by electronic submission to the NTCA, The Tax number of the taxable person selling the product/service, The Tax base indicated in the invoice and the amount of output VAT. June 16-30, 2020. The Greek government have announced plans to extend the timeline of the discounted VAT rates applicable in certain islands from 30 June 2020 to 31 December 2020. All organizations are required to provide tax and accounting details for their expenses, provided by the company’s licenced accountant. On 24 June 2020, Portugal’s Secretary of State for Tax Affairs issued Order no. 2550M - eFPS Filers under Group A: Month of April 2020: e-FILING/FILING & e-PAYMENT/PAYMENT : 2550Q - eFPS & Non-eFPS Filers: FQ ending April 30, 2020 Stay up to date with the latest VAT news and featured articles. 330/2020 XXII of the Portuguese Secretary of Tax Affairs: JULY 2020 VAT RETURN AND VAT PAYMENT In detail The deferral of VAT payment on imports does not require submitting any applications to GAZT. National Lottery. This has been further postponed to January 2021, at which time all entities will start recording their sales. Check out the success stories from just a few of our thousands of happy clients around the globe. This is backed with a further suspension of payment collections. IDA BUSINESS & TECHNOLOGY PARK, RING ROAD KILKENNY, IRELAND, t: The 30 September 2020 deadline is fast approaching for the recovery of foreign VAT refunds. The deadlines are different if, for example, you use the VAT Annual Accounting Scheme. 28 Dec - the deadline on the voluntary disclosure scheme for VAT and other taxes has been extended from 31 December 2020 to 30 June 2021. This means over 300,000 VAT registered businesses will have to face their first VAT payment deadline on 7 July. We love what we do and we’d love you to join us! 15 July 2020: Bulgaria, Czech Republic, Greece, Hungary and United Kingdom announced changes to VAT rules. Businesses will have to declare all of their issued invoices to the National Tax and Customs Administration (NTCA). In May 2020, VAT receipts went £0.6billion negative compared to payments of £11billion in May 2020. EET enables the recording of all cash payments for goods and services and facilitates online communication between entrepreneurs and the Financial Authority. From 1 July 2020, the Bulgarian government will temporarily drop the VAT rate for ebooks from 20% to 9%. This will allow for digital reporting – companies will report their transactions, invoices and accounting records to the Tax Office using the myDATA platform. Reclaim Domestic VAT on your local business spend over the last number of years. Here is a list of important tax dates and deadlines for the coming months. accounting scheme. The temporary reduction for VAT has been extended again for the April 2021 – April 2022 tax year. Work out the VAT payment deadline for your accounting period. Also, from 1 July 2020, the data relating to all approved supplier invoices must be provided to NAV on the M-sheet. Remittance of HDMF contributions for December 2020 by employers whose names begin with letters E to L.. 20, Wednesday. How it works: Despite the delay, the EET system is now fully operational and if taxpayers want to record sales, they can do so on a voluntary basis. The summarised, transitional rules are as follows: All transactions effected before July 1, 2020 are subject to VAT … Pressure is building on both sides to come to agreement on a trade deal by October 2020 so this can be ratified and put in place for 2021. VAT payment deadline calculator Work out the VAT payment deadline for your accounting period. 1702Q & Summary Alphalist of Withholding Taxes (SAWT) TQ ending June 30, 2020 . Reclaim foreign VAT incurred on your company’s Accounts Payable (AP) invoices. The Hungarian Tax Authority (NAV) have announced that from 1 July 2020, the scope for the Online Reporting System will be extended to combat tax fraud and to tighten the economy. You can’t use this calculator if you make payments on account or … April 29, 2020 : UAE FTA publishes VAT Public Clarification and updated guidance on the Real Estate sector. May 11, 2020 : KSA VAT rate to increase to 15% from 1 July 2020. The EU have stated that they are ready “to intensify” the talks with the UK as chief negotiators have mentioned there has been a lack of progress with their discussions. 1 Wednesday. By 20th May. 229/2020 XXII to extend the deadlines for submitting the VAT returns for the May and June 2020 tax periods (under the monthly regime) to 17 July 2020 and 17 August 2020, respectively, from the 10th of those months. The threshold of HUF 100,000 for invoice data reporting is eliminated. 30 Nov, the deadline for the repayment of VAT loans, repayments of VAT paid in the first quarter of 2020, has been pushed back from April to Dec 2021. +353 1-887-1999, e: For information on how to unsubscribe, check out our. Many countries in the EU have reduced the VAT rate on ebooks over the last couple of years and up until now, Bulgaria has kept the VAT rate on ebooks at 20%. Pay your VAT bill You must pay VAT to HMRC electronically, for example through direct debit or … 23-04-2021 - Value-Added Tax (VAT) manual submissions and payments: 29-04-2021 - Excise Duty payments: 30-04-2021 - Value-Added Tax (VAT) electronic submissions and payments The standard Greek VAT rate is discounted by 30% for the below islands and this discounted rate will now remain in place until 31 December 2020: In June 2020, Greece provided an update to the phased roll out of its myDATA e-inovice and e-books program. 25 July - Q1 and Q2 Value Added Tax returns should be filed by 31 July 2020. List of Buyers of Sugar Together with a Copy of Certificate of Advance Payment of VAT Made by Each Buyer appearing in the List by a Sugar Cooperative. VAT Rates have been cut from 20% to 5% for hospitality and tourism businesses from between the 15 July 2020 and 12 January 2021 as part of financial support being offered by the government due to Covid-19. We use some essential cookies to make this website work. The UK is still bound by some of the EU’s rules during the “transition period”, which ends on 31 December 2020. ... 2550Q (Quarterly VAT Return) & 2551Q (Quarterly Percentage Tax Return) - eFPS & Non-eFPS Filers. It was originally planned to end on 12th January 2021, and then extended until 31st March 2021 for eligible businesses. An Introduction to Value Added Tax and VAT Reclaim: What it means for your business. SUBMISSION. I’ve updated this post on 17 November 2020 for the latest changes in legislation Cyprus announced a temporary VAT rate decrease from 9% to 5% for the period July 1, 2020 to January 10, 2021. Tax Calendar: Important Dates & Deadlines June - July - August 2020 This article was published on 01/06/2020 Now updated with June, July and August dates. Monthly Return of TDS and electronic payment of Tax deducted. 7 July 2020 – Deadline for VAT returns and payments of Accounting Quarter period ending 31 May 2020 14 July 2020 – Income tax due date for CT61 period to 30 June 2020 19 July 2020 – Monthly deadline for postal payments of CIS, Class 1 A NICs and PAYE to HMRC As these deadlines fall during official Eid holidays, it can be argued to file these returns with payments’ at any time up to and including first working day after the official holiday. Deadlines for Sept to Dec 2020 have been pushed out to Dec 2020 and Feb 2021. If a business has taken payment before 15 July 2020 in respect of stays taking place between 15 July 2020 and 31 March 2021, and has therefore charged VAT at 20%, it is permissible to issue a credit note and repay to the customer the difference between the VAT due at the normal rate and the reduced rate. You can’t use this calculator if you make payments on account or use the annual Many countries in the EU have reduced the VAT rate on ebooks over the last couple of years and up until now, Bulgaria has kept the VAT rate on ebooks at 20%. 3 June - large taxpayers may delay VAT payments for July returns from 25 August to 9 September. Consolidated Return of All Transactions based on the Reconciled Data of Stockbrokers. To help us improve GOV.UK, we’d like to know more about your visit today. The Tax/Zakat return for FY19 (ended December 31, 2019) is due on July 29, 2020 and VAT return for the relevant filing periods is due on July 31, 2020. Since 15 th February falls on a Saturday, the effective deadline is 17 th February Submission of VAT Return for March 2021 and quarter ending 31 March 2021 electronically and Payment of Tax electronically. Article 132 of the Withdrawal Agreement allows for a possible extension of the transition period – this may be extended by one or two years. The federal tax authority of the United Arab Emirates (UAE) has extended by one month—to 28 May 2020—the deadline for filing the value added tax (VAT) return and for paying VAT owed for the tax period ended 31 March 2020 (whether monthly or quarterly). The temporary VAT rate reduction took effect from 15th July 2020. As these deadlines fall during official Eid holidays, it can be argued to file these returns with payments’ at any time up to and including first working day after the official holiday. The entrepreneur sends an XML data message of a transaction to the Financial Authority; The Financial Authority will send a confirmation of receipt with a unique code (FIK); The entrepreneur issues a receipt to the customer; The customer can verify the receipt and the entrepreneur can verify the sales registered under their name through the web application of the Financial Administration. The Bureau of Internal Revenue (BIR) has issued last April 30, 2020 Revenue Regulations (RR) No. 8 June 2020: VAT related news stories from UK, Mexico and Indonesia. Subscribe to our blog below to get updates sent to your inbox. April 22, 2020 : UAE VAT return filing and VAT payment deadline extended by one month. The below will be reported in the M-sheet: The United Kingdom left the European Union on 31 January 2020. Global end to end VAT Compliance Software at your fingertips, Automated global technology for all your VAT reclaim needs, Empowering customers to take direct control of cross border payments. Invoices with input VAT exceeding HUF 500,000 or more must be reported within 1 day after the invoice has been issued; and, Invoices issued using accounting/billing software must be reported in real time. This temporary cut will be in place until 31 December 2020. This means that the deadline of 1 July 2020 is not delayed but NAV will not penalise reporting omissions for 3 months if taxpayers register in the Online Invoice system (by 30 September 2020). Don’t include personal or financial information like your National Insurance number or credit card details. The Online Invoice Reporting System is a tax-reporting tool for invoicing data and was introduced in 2018. This temporary cut … Changes to VAT deadlines for the payment of VAT due. The original due date 31 July 2020 shall be applicable. ... 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