Friday 27 April 2018

9:30 – 10:30
Implementation of VAT in GCC as from 2018
Raymond Feen (….) and Isabelle Desmeytere (VAT Forum)

After years of discussion and announcements, VAT has finally been introduced in the Middle East. On 1 January 2018, Saudi Arabia and the United Arab Emirates introduced their VAT system. The other Gulf states are to follow later this year and in 2019. The VAT legislation is also ‘Community’ based. The GCC Agreement, like the VAT Directive in the EU, contains the general principles and rules with respect to the VAT system applicable or to become applicable in all GCC Member States. However, each GCC Member State has also drafted its own national VAT legislation, implementation decrees etc. Moreover, they have each developed various reporting obligations, leading to unharmonized sets of requirements that may be even worse than they are in the EU.

10:30 – 11:00
Coffee break

The VAT Action Plan: new rules for 2019
Speaker to be announced

In October 2017, the European Commission published a proposal for a directive for harmonising and simplifying certain rules in the VAT system and introducing the definitive system.

A proposal for two implementing regulations regarding certain exemptions for intra-Community transactions and certified taxable persons was published at the same time: these regulations should come in force in January 2019.

12:30 – 14:00

14:00 – 15:30
The VAT Action Plan: new rules for 2022
Speaker to be announced

In 2018 the Commission will adopt a proposal for a directive, accompanied by the relevant implementing measures, laying down the detailed technical provisions needed for the operation of the definitive VAT system.

15:30 – 16:00
Coffee break

16:00 – 17:00
Real-time online transfer of invoices and split payment

Real-time online transfer of invoices in Hungary
Speaker to be announced

Rules have been published for the real-time online transfer of invoices, which will enter into force on 1 July 2018.
The new requirement applies to invoices charging HUF 100 000 or more Hungarian VAT. It is also possible for a taxable person to apply this mechanism voluntarily to all its invoices. The system only applies to invoices between taxable entities registered in Hungary.
A failure to fulfil these requirements may involve penalties of up to HUF 500 000 per invoice.

Split payment in Italy, Poland and Romania
Alessandro Portale (Studio Portale), Dorota Baczewska (Independent Tax Advisors Poland)

17:15 – 17:30
Wrap-up of the day by Prof. Patrick Wille, President of VAT Forum

Visit to MAS RODO, an exquisite winery in the Penedès, followed by dinner