Chancellor’s VAT plans are minefield, warns ParcelHero

Chancellor Philip Hammond’s proposed VAT reforms for online retailers could open a can of worms, says David Jinks head of consumer research at express freight broker, ParcelHero. His proposal to tax digital businesses’ revenues rather than profits in his Spring Statement in mid-March would put the UK at odds with other countries’ taxation rules and his crackdown on online sellers avoiding VAT could also create problems, he saud Jinks said: “It’s a ... [+]

Chinese clear up VAT question

The Chinese Ministry of Finance has clarified that shipping and airline agents who make payments to international transportation providers directly or indirectly are entitled to VAT exemption, rep[orts BIFA. When Notice [2013] No.106 was published on December 12th, 2013, it seemed to imply that only agents directly making payments to ... [+]

Brussels unveils standard VAT return plan

The European Commission unveiled plans on 23 October to standardise VAT returns across the Union from 2017. Under its plans, there would be five mandatory information boxes to be completed (chargeable VAT, deductible VAT, net VAT amount, total value of input transactions and total value of output transactions) although member ... [+]

VAT rules change for port community services

The VAT rules have changed for some port community systems charges, reports BIFA in its latest newsletter. Some services that were previously zero-rated are now liable to standard-rate VAT, it says. BIFA advises that freight forwarders can continue to charge the net amount as an invoice disbursement, when handling an international ... [+]

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