At Mazars, we inform you about the recent developments and rules and regulations that can have impact on you or your organisation. Would you like to minimise your risks and maximise your opportunities? We have listed several noteworthy news items that can be of use to you.
ATAD3 update: Significant amendments recommended by the European Parliament
24 January 2023 – The European Parliament proposes significant amendments to the Anti-Tax Avoidance Directive, commonly known as ATAD3. ATAD3 seeks to prevent the misuse of so-called ‘Shell Companies’ for tax purposes. Compared to the initial draft Directive, the proposed amendments may provide relief for international organisations.
Update: VAT invoice requirements simplified triangulation scheme
19 January 2023 - On 8 December 2022, the ECJ ruled on the VAT invoice requirements regarding the application of the simplified triangulation scheme (C-247/21). According to the ECJ, the simplified triangulation scheme can only be applied if the invoice issued by party B to party C contains the words ‘Reverse charge’. Furthermore, an omission of the reference to the reverse charge mechanism cannot be corrected (retrospectively) by adding a statement that the tax liability has been shifted to the person to whom the supply is made.
European Commission publishes VAT in the Digital Age proposals
10 January 2023 - On 8 December 2022, the European Commission published the VAT in the Digital Age (ViDA) proposals. With these proposals, the European Commission wishes to adapt the VAT Directive (2006/112/EC) and other EU legislation to today’s digital reality.
Outsourcing HR - Tips for the outsourcing decision
4 January 2023 - Staff shortages or insufficient knowledge sometimes make it difficult to continue doing all the required work. These are just two reasons why organisations are increasingly opting for outsourcing (secondary) processes, which is seen as a powerful and strategic tool. Outsourcing organisational processes allows you to focus on your organisation's core business and growth.
Business succession in a family business: focus on numbers & feelings
3 January 2023 - Once there is question of business succession in a family business, securing a careful process is one of the first requirements. Especially in a family business, emotional aspects play a major role in addition to the financial aspects. Do you transfer the business to the next generation, or to a third party? How do you maintain the company's norms, values and traditions in the business transfer?
Developments on the ANBI status in 2022 and 2023
2 January 2023 - 2023 will be an important year for ANBIs. This is because there is a lot of movement within the ANBI landscape. On 21 June 2022, the Supervision of Public Benefit Report was published. The main question in that report is what possibilities there are to better reflect the public benefit character of ANBIs.
Register obligation in January 2023
23 December 2022 - Do you pay workers or service providers who are not employed by you? Unless the service provider issues an invoice with VAT, you must provide information on these payments to the tax authorities. This is called the information reporting obligation.
CESOP: new reporting obligations for payment service providers from 2024
As of 1 January 2024, new reporting obligations will apply to payment service providers (PSP’s): the Central Electronic System of Payment information – CESOP. With this, the European Commission wishes to combat VAT fraud. The idea is to gain more insight and control over (digital) payment flows in the EU.
EU Carbon Border Adjustment Mechanism (CBAM): Ensuring your supply chain is compliant
20 December 2022 - The European Commission presented in July 2021 its ambitious Fit for 55 legislation package, which supports its commitment to reduce net greenhouse gas emissions within the EU by at least 55% by 2030 (compared to 1990). From an international trade point of view, the most important part of the package is the Carbon Border Adjustment Mechanism (CBAM).
Government response to evaluation of fiscal business succession schemes
16 December 2022 - On 9 December, the government decided not to abolish the business succession regime (BOR) in gift and inheritance tax, but to adjust it where needed. This is in response to the Central Planning Bureau's evaluation report on the business succession regime (BOR) in gift and inheritance tax and the pass-through scheme (DSR) in income tax, published earlier this year.
'Jubelton': deferred gifting in 2022 and 2023
15 December 2022 - From 1 January 2023, the one-off increased gift exemption for owner-occupied housing, better known as the 'jubilee bonus', will be reduced to €28,947. By gifting in instalments, it is possible, under certain conditions, to use the current exemption of €106,671 in 2022 and 2023, without having to pay the entire amount of the gift to the donee in 2022. Recently, the Tax Office provided more clarity on this possibility.