VAT Update - International Tax Review...» Since 2016 Head of Indirect Tax at WTS Global » Since...
18
VAT Update Jürgen Scholz, Amsterdam, March 22, 2018
Transcript of VAT Update - International Tax Review...» Since 2016 Head of Indirect Tax at WTS Global » Since...
VAT UpdateJürgen Scholz, Amsterdam, March 22, 2018
The bright side of VAT
2
VAT Germany
EUR 226 bn
Wage Tax
Germany
EUR 195 bn
Trade Tax
Germany
EUR 50 bn
CIT
Germany
EUR 39 bn
…
…
VAT Update
VAT EU
EUR 1000 bn
The dark side of VAT
VAT Update 3
VAT-gap
EUR 140-180 bn
GDP Greece
EUR 190 bn
VAT-gap
Romania
40%
The response from the authorities – compliance…
4
Increased compliance requirements
» Preliminary proceedings
» Administrative fines
» Secondary liabilities
» Personal penalties and imprisonment
Tax Compliance Management System
necessary
VAT Update
5
Electronic
declarations
(M)OSS
Split payment
procedures
Transactional
reporting
VAT Update
… and controls
The action plan of the European Commission
6VAT Update
New regime on EU-Supplies
7
» Zero-rated EU-supplies will be replaced
Supplier CustomerSale
0% VAT EU acquisition
Supplier CustomerSale
VAT of the destination ountry no EU acquisition
» By charging the VAT of the destination
country (as from 2022)
VAT Update
The new certified taxpayer
8
» Public register
» Global process certification
» Benefits…
» … but also significant impacts
» Planned for 2019
VAT Update
Simplifications and flexibility
9
» Further elements:
› VAT-ID as mandatory requirement
for EU supplies (quick fix, 2019)
› New regulations for chain supplies &
supplies from call-off stocks (2019)
› Flexibility in the rates (2022)
› New thresholds for SMEs (2022)
VAT Update
New regulations for online activities
10
› New EU-taxation for „online activities“ (planned rate 2-5 %)
› New liability for online platforms
VAT Update
The VAT world goes beyond the EU
11VAT Update
VAT reforms around the world
12VAT Update
13VAT Update
VAT reforms around the world
14VAT Update
VAT reforms around the world
15VAT Update
VAT reforms around the world
Saudi (adj.)
from Sa‘du, familiy name of the rulers of Neid from 18c. and
the kigdom of South Arabia since 1932.
The name is from Arabic sa‘d „Good fortune, happyness
(Source: Online etymologie Dictionary)
16VAT Update
bhutan-gm458600343-15620538
VAT reforms around the world
Jürgen Scholz
Education
» Certified German Tax Advisor
» Master degree in Fiscal Economics at the University of Applied Sciences in Nordkirchen
» Master in International Business Laws at the University of St. Gallen (M.B.L.-HSG)
Professional Background
» Since 2016 Head of Indirect Tax at WTS Global
» Since 2013 Partner at WTS
» 9 years at KPMG’s (Global) Indirect Tax team including secondment to KPMG International to
develop a global VAT strategy
» 2.5 years VAT manager at Dresdner Bank
» 3.5 years at the German tax authorities
Specialization
» 15 years experience in the area of VAT with a focus on the financial services industry and
global high-tech clients
» Expert for IT-driven tax-risk management, tax compliance management systems (TCMS) and
M&A VAT
Education
» Member of the Advisory Council to Germany‘s leading VAT journal (Umsatzsteuer-
Rundschau)
» Board member of the scientific organization on VAT in Germany (UmsatzsteuerForum e.V.).
» Recognized inter alia as “ITR Indirect Tax Leader 2017”
WTS Steuerberatungsgesellschaft mbH
Peter-Müller-Str. 18
40468 Dusseldorf
Phone: + 49 (0) 211 200 50 677
Mobile: + 49 (0) 152 228 35 520
Email: [email protected]
Partner, Head of VAT
Global Head Indirect Tax
wts.com/de
