Munster’s first independent VAT consultancy practice providing specialist VAT and Indirect tax advisory, assurance and interim management support services to owner managed businesses, small & medium enterprises, accountants and legal practices.

Global VAT news: June 2011

Monday, June 20, 2011

by Nick Ryan

There are a number of interesting developments within the global VAT market to be aware of.
There are still strong rumours of VAT being introduced in the USA ad many US based advisors are talking very strongly of it happening.
In the UK there have been a number of issues from the further discussions on the VAT liability of hot take away food products, self storage facilities being an exempt supply of land as opposed to be a license of storage facilities and the VAT treatment of park and ride services all of these may have a bearing on Irish VAT.
The UK also announced the imposition of penalties for the filing of VAT returns on or after 31 March 2011 where they are filed on paper as opposed to online.
The Czech Republic has become the latest Member State to be challenged on the inclusion of non taxable persons within a VAT group. This issue appears to run and run with the Commission showing they clearly want to see change in the VAT group eligibility rules.
Also of note is the Czech Republic’s announcement of a unified VAT rate of 17.5% to be introduced.
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