VAT

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All 155

Canada GST/VAT 2

Digital Services tax 1

Differences between Sales Tax and VAT

In the US, sales tax and VAT (value added tax) have a few key differences that can cause confusion for international companies ent...

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7 things about EU VAT scheme for small businesses

Starting January 1, 2025, the European Union is introducing a new VAT scheme for small businesses. This scheme is designed to simp...

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VAT treatment in the transfer of companies in the EU

Business Transfer Situations: TOGC and VAT Implications A business transfer situation arises, for example, when an Amazon account ...

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What is a VAT number?

VAT – Value-added tax is a consumption tax charged on the value added of goods and services as they move through the supply chain...

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Analysis of Digital Services Tax (DST) in Tanzania

The global landscape of Digital Services Tax (DST) systems showcases the varied approaches governments have adopted to address rev...

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Importing goods EU: basic VAT declaration requirements explained

A company that imports goods for commercial purposes can deduct Import VAT on its VAT declaration. In order to do so, it is necess...

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How to Verify a Company's VAT Registration Status

For B2B cross-border sales in the European Union, it is important to understand if your buyer is registered for VAT. It is import...

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Basic rules about EU VAT for e-commerce sellers

If you’re an e-commerce seller and you’re confused about your VAT obligations in Europe, don’t worry. Here’s what you need to know...

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The VAT threshold for micro-enterprise in the EU

Changes to the European Union (EU) VAT rules were introduced in 2019. There is a registration threshold of 10,000 Euro for supplie...

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Pricing strategy – consider the factor of VAT

The difference in VAT rates between nations is one of the most significant things you should consider when you expand your busines...

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6 critical mistakes in VAT calculation on crossborder sales

62 countries around the world use the VAT destination principle for e-commerce companies. Such companies must pay VAT\GST\IVA in e...

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5 tips for expanding your digital business to new market

There are few things to consider before you expand into the overseas market. Here are some tips for preparation and internal evalu...

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The guideline for VAT compliance

Since 2015, countries have applied new rules for e-commerce and transborder trade, and those who trade online are obligated to pay...

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10 tips UK-EU e-commerce post-Brexit

As the transition period for Brexit ended on 31st December 2020. Here are some tips for you to take into account: For companies lo...

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Guide for importing of goods to the UK from 2021

As you already know, big changes await e-commerce businesses that plan to work in the UK. The first thing is Customs. To be able t...

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New UK rules for marketplace sellers

From 1st January, tax rules for Amazon sellers who are not established in the UK change. Online marketplaces will collect and remi...

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New EU rules for e-commerce merchants in 2021

Four main changes will come into force in July 2021: The first one concerns the new OSS system – where a merchant can do VAT repor...

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VAT in Northern Ireland, Isle of Man, Jersey, and Guernsey

There are 4 regions connected with the UK but VAT rules differ in all of them. Northern Ireland is a part of the UK but for VAT p...

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3 new types of one stop shop VAT registrations in Europe

There are three new types of registration in the EU: Union OSS Non-union OSS IOSS The schemes are optional. You are not obliged ...

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Import with IOSS number, customs formalities

When a company receives an IOSS number it is only the first step to avoid a delay at the EU border. It is not enough to fill inter...

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6 new VAT laws to ensure compliance in 2021

Marketplaces become deemed suppliers when facilitating sales in the EU, UK, Canada, New Zealand, US, Norway. EU: Distance sales th...

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To invoice or not to invoice that is the question

From 1st of July, new VAT changes came into force in the EU. These Reforms changed the VAT compliance profile for all e-commerce s...

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One-Stop Shop – EU VAT changes for e-sellers

General overview Distance sales threshold was replaced by EU-wide 10K threshold for digital services and goods. That means that in...

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Retrospective tax registration

Why you may need retrospective tax registration? Sometimes sales start expanding to new markets. Especially with these remote time...

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Deemed supply invoices

When online marketplaces act as deemed suppliers of goods a situation arises when it is necessary to issue invoices from a merchan...

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Import to the UK and postpone import VAT

When you want to import to the UK you don’t need to pay VAT at customs and then refund it. There is a possibility to account for i...

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NFT sales, summary of global tax treatment

This article is about NFTs, which are the most common today – when an NFT is a digital code that grants the owner access to a digi...

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Margin scheme for VAT on second-hand goods

The second-hand margin scheme is one of the VAT’s accounting schemes made available to help businesses in the UK, EU, and other co...

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VAT Number for Non-EU Companies: Requirements

You’ve considered expanding your business into the European Union (EU) for some time. After extensive research, you realize that o...

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VAT reverse charge mechanism cases for sellers and buyers

A reverse charge for sellers Supply between EU member states (EU-EU) Reverse charge is a special scheme when a buyer calculates VA...

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Excisable goods

The procedure for collecting excise duties in the European Union has its own characteristics and rules. To successfully do busines...

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Learn how to get your VAT refund

The issue of VAT refund may come up when non-EU companies import goods to the EU and sell them via Marketplace. It arises because ...

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VAT number reactivation. Step by step

A VAT number is a unique identification number used for tax purposes and is only issued to companies and individuals that are regi...

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VAT deregistration

VAT is an important aspect of a business. However, there are instances where businesses find it necessary to deactivate their VAT ...

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Understanding Autopilot mode vs. Autosubmit service

Lovat simplifies tax management for sellers, but you might come across terms like “autopilot” and “auto-submit” and wonder what th...

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5 things to know for a transit from one tax service to another

Sometimes you need to change one tax reporting provider to another. You may be dissatisfied with the quality of services or the su...

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Backdate VAT registration and where is it possible?

VAT registration is an essential aspect of any business that conducts commercial activities. One interesting and often misundersto...

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EU VAT in the Digital Age Reform

The European Union introduced a big reform on digitalization of VAT across the EU. The main aim of this reform is to have all VAT ...

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Reverse charge invoice for a buyer: 4 steps to be compliant

This article is for a business that receives an invoice with the note “reverse charge”. Because in such a situation obligation to ...

Topics

All 155

Canada GST/VAT 2

Digital Services tax 1