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Ministerial Order HFP/417/2017 of 12 of May (the Order) appeared Today regulates the legal and technical specifications for the keeping of the VAT registers through the Tax Agency website (the so called “Sistema de Información Inmediata” or SII).
The main aspects are as follows:
- Appendix I of the Order includes a detail of the fields that constitute the information of the VAT registers to be electronically declared following the SII obligations. As regards the technical standards of the files to submit, article 8 of the Order remits to those mentioned at the website of the Tax Agency.
- The unique Additional provision of the order regulates the specific information to be declared for the purposes of the SII for the period 1st January-30th June 2017 and excludes from such an obligation those taxable subjects which are registered at the REDEME (Special Monthly Refund Regime).
- The final provision one of the Order modifies the census form 036 in order to include new fields which are required following the new SII regulations.
- Final provisions number two and three modify the Ministerial Orders that regulate VAT forms 303 (standard), 322 and 353 (VAT Groups), so to include a mention to the new dead-lines for the case of taxable subjects obliged by the SII and include new data fields to be declared at the last monthly VAT return of the year by those taxpayers released from the obligation to file such a form following the application of the SII.
- Final Provision four modifies the Ministerial Order that regulates domiciliation of payment so to adapt to the new dead-lines.
- Lastly, final Provision five modifies the Ministerial Order that regulates form 390 (yearly summary) in order to include from the same those taxpayer filing SII report that meet the condition of filing the additional data required at form 303 for the last monthly VAT return.
More info of the SII at our site http://www.sii-spain.info/
On 12 August 2016, the European Economic and Social Committee (EESC) published its Opinion on the VAT Action Plan, which was presented by the European Commission on 7 April 2016 (see European Union-2, News 7 April 2016).
In the Opinion, the EESC welcomed the Action Plan and the approach taken by the European Commission, which is based on four components: (i) the single European VAT area, (ii) tackling the VAT gap and fraud, (iii) policy initiatives on e-commerce and SMEs and (iv) modernization of the VAT rates policy.
More specifically, the EESC endorses the implementation of the destination principle for the definitive VAT system, and it suggests the introduction of a generalized reverse charge mechanism for all cross-border transactions between taxable persons. At the same time, the EESC highlights the need to make the VAT system more business friendly by adding clarity and legal certainty.
Finally, the EESC emphasizes the importance of implementing the Action Plan as an indivisible whole and of monitoring properly the transition to the definitive system.
The Opinion is available here.
Source: IBDF Tax News Service
The 27th, 28th and 29th of April 2016 we will participate as lecturers in the 17th Annual VAT Summit that will take place in Berlin organized by VAT-Forum. Its aim is to create an open discussion between VAT managers within companies, consultants, officials from national VAT authorities and the European Commission. This conference aims to discuss hot topics and provide ready-made answers for businesses. The aim of the conference is also to inform companies and consultants of the latest changes to EC and national VAT legislation and the impact of these changes on business.
For a more detailed information click here.
On 7 April 2016 the Commission adopted an action plan regarding VAT which has been named "Towards a single EU VAT area". The Action Plan sets out immediate and urgent actions to tackle the VAT gap and adapt the VAT system to the digital economy and the needs of SMEs. It also provides clear orientations towards a robust single European VAT area in relation to the definitive VAT system for cross-border supplies and proposes options for a modernised policy on EU rules governing VAT rates.
To know more click here.
The Tax Agency announced in October 2014 a revolution that would force companies to recall Hacienda near real-time of invoices issued and received. The project, dubbed SII (Immediate Supply of Information), due to come into force in January 2017 and was called to be the change in the management of the most important tax since the tax was introduced in 1986. However, the delay in the approval of the decree implementing the measure and the election date have left in limbo this initiative.
Source: 5 Días (read full new)