.png)
.png)
Keeping up with the changes
Key points
- Technological developments have presented problems as to potential non-taxation in the place of consumption.
- The place of supply rule is now almost universally applied internationally by countries operating a VAT or goods and sales tax regime.
- The EU’s proposed changes for platform electronic interface businesses facilitating the supply of short-term rental accommodation and passenger transport come into effect from 1 January 2025.
- Tax authorities are implementing legislation to drive the automation in VAT reporting which could replace businesses having to file returns.
- Governments will have to be smarter at updating legislation to keep pace with a digital world.
The UK introduced VAT in place of purchase tax on 1 April 1973 following which there has been an ever-increasing movement from direct to indirect taxation globally increasing the importance and relevance of VAT and other sales taxes internationally. VAT is now the third largest source of government revenue and...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
