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Are the Holiday Gifts You Gave Your Employees Taxable Fringe Benefits?

Is a gift really a gift, or is it a taxable fringe benefit? Whether the gift is cash or crypto, companies and employees are required to report gifts as taxable fringe benefits…

Trump Organization Convictions – When Underreporting Fringe Benefits Leads to Fines and Prison Time

Corporate tax professionals need to establish clear fringe benefits policies before the taxman knocks on the door…

Uber Settles £615m VAT Dispute, Highlighting the Significance of VAT Compliance

VAT compliance is absolutely crucial for global businesses. Case in point – Uber paid £615m to settle a VAT dispute with the United Kingdom’s HMRC…

2023 Trend: The Rising Price of Employer Costs for Employee Compensation

Employers typically budget for much more than the actual salary per hour they pay their employees as benefit costs make up a significant percentage of the compensation…

Guide to Reclaiming VAT for Business Trip Expenses

As the Covid pandemic passes, business travel is back on the rise. Business travel involves paying VAT that can be potentially reclaimed. Read on to learn the 5 business trip VAT reclaim guidelines…

How to Claim VAT Mileage in the UK

The amount of VAT that UK companies can reclaim on mileage is determined by HMRC – HM Revenue and Customs. HMRC updated the advisory fuel rates as of December 1, 2022. There are 7 requirements to calculate VAT recovery…

How Technology Affects Jobs in the Financial Services Industry

The financial services landscape has been dramatically transformed by digital technology and fintech. Today, banks, and financial institutions now offer a plethora of technology-based services…

The 6 Must-Have Skills for the Successful and Proactive Tax Manager

The role of the tax manager is always evolving. The goal of the modern tax manager is to stay ahead of the game and implement efficient and nearly effortless tax processes for the business…

Removing Fringe / Employee Benefits Tax for Electric Vehicles

The global electric vehicle (EV) market is on a continuous upward trend, even though zero and low-emission cars are typically more expensive. They are touted as environmentally friendly…

Tax & Digitisation: Considerations For Tax Experts

If there were any doubts as to the necessity of digital transformation for ensuring long-term business growth and competitiveness, the coronavirus pandemic has silenced them. In our digital, contactless world…

Unleash the Power of AI Tax Technology for Employee Expenses Analysis

Covid is now behind us, but the world – and implicitly the business world – isn’t where it was two years ago. Moreover, the old reality is very unlikely to return. If we look at business travel…

5 Steps to Efficient & Compliant Automation of Employee Benefits Reports

Managing, recognizing, calculating, and reporting the tax on employee benefits has unique challenges and hidden costs determined by work processes and expense management capabilities, as well as the business environment…

Effectiveness vs. Efficiency: What’s the Difference?

Determining organizational strategy and making the right management decisions requires taking a holistic view of your company’s needs and planning how to achieve your goals and objectives. Strategic management, especially in the world of tax compliance…

Blue dot Expands SAP Concur Partnership With the Launch of Concur Benefits Assurance for VAT Reclaim

New solution accurately and efficiently identifies taxable employee benefits for effortless compliance Blue dot is…

PwC and Blue Dot Expanded Alliance Combines Tax Expertise and Advanced Technology

PwC announces that it has expanded its alliance with Blue dot, a leading tax platform for employee-driven…

Croatia set to join the eurozone from 2023

The EU Commission has given its approval for Croatia to join the eurozone. In July, EU finance ministers will set the exchange rate for the conversion of Croatia’s currency, the kuna, to the euro, in effect from 1 January 2023. Croatia will now have six months to prepare…

The Dutch Government considers abolishing VAT on public transportation and taxi services

The Republic of Croatia has introduced a relief package with reduced VAT rates on selected goods and services to mitigate the impact of price increases.

Ireland’s Department of Finance has announced an extension to its reduced VAT rate

On 12 May 2022, Minister Donohoe from the Department of Finance announced an extension to the 9% VAT rate reduction for the tourism and hospitality…

Hospitality VAT rate remains at 9% until the end of 2022 at a cost of €200 million

The 9% VAT rate for the hospitality sector is to remain in place for the remainder of 2022. The measure, introduced after extensive lobbying from the sector…

Coupa Integrates Blue Dot Technology to Address Tax Compliance

Hybrid working, remote working, dispersed workforces, gig employment – these operating models are now critical to business success and talent retention in the modern era. As Deloitte points out…

Romania to implement mandatory electronic invoicing

On 20 April 2022, the Romanian Chamber of Deputies published a Draft Law on the approval of Government Emergency Ordinance (GEO) no. 120/2021 that establishes the operational framework of the national e-invoicing system, with important amendments.

Belgium amends provisions on VAT refunds for EU and non-EU businesses

Royal Decree No. 56 (Ref. number: 2022031695), published in the Belgian Official Gazette, amends the provisions on foreign VAT refunds for EU and non-EU businesses.

Ireland temporarily reduces the VAT rate on gas and electricity

The Government of Ireland agreed to reduce the VAT rate on the supply of gas and electricity from 13.5% to 9%, at a cost of € 46 million. 

Belgium expands B2G mandatory e-invoicing in several phases until November 2023

A Royal Decree from 9 March 2022, published in the Belgian Official Gazette, introduced the obligation for entrepreneurs to issue electronic invoices for the supplies based on government contracts and concession agreements.

Blue dot Receives SAP Concur Growth & Innovation Award

In an amendment to Royal Decree No. 20., Belgium has introduced a temporary reduced value added tax (VAT) rate of 6% for the supply of electricity for residential contracts

Belgium announces temporary low VAT rate for electricity, natural gas, and district heating

In an amendment to Royal Decree No. 20., Belgium has introduced a temporary reduced value added tax (VAT) rate of 6% for the supply of electricity for residential contracts

Consent of the European Commission for obligatory e-invoice in Poland

the European Commission prepared and submitted to the EU Council a draft derogation decision authorizing Poland to implement the mandatory e-invoicing system.

India to reduce threshold for mandatory e-invoicing

The Central Board of Indirect Taxes and Customs Authority in India has lowered the annual sales threshold for mandatory GST e-invoices.

Bulgaria proposes VAT rate reduction for food and electricity from April 2022

Amid soaring food and energy prices, Bulgaria announces a proposal to reduce the VAT rate from 20% to 0%.

Spain extends VAT reduction on electricity to June 2022

In a move to deal with high energy costs in Spain, the Spanish Prime Minister has announced the extension of the reduced VAT rate of 10% on electricity from April 2022 until 30 June 2022.

Croatia announces reduced VAT rates on selected goods and services

The Republic of Croatia has introduced a relief package with reduced VAT rates on selected goods and services to mitigate the impact of price increases.

Ireland May Introduce Digital VAT Reporting by the End of 2022

In a move to modernize VAT reporting, Irish tax authorities may introduce SAF-T and mandatory B2B e-invoicing in the second half of 2022.

Romania to Reduce VAT Rate on Fuel from April 2022

Romania will reduce the VAT rate from 19% to 5% on leaded gasoline, unleaded gasoline, liquefied petroleum gas (LPG) and diesel car fuels.

Singapore Increases VAT Rate in Budget 2022

Singapore has announced a VAT rate increase in its Budget 2022.

Greece Plans to Extend Reduced VAT Rates

The Minister of Finance has announced that Greece intends to further extend the already reduced VAT rates for catering, transportation, gyms, cinemas, and theaters.

Spain Mandates B2B e-Invoicing from 2024

The Ministry of Treasury and Public Function in Spain has published a Royal Decree mandating B2B e-invoicing from 1 January 2024.

New Zealand Takes the First Steps Toward Implementing B2G e-Invoicing

The New Zealand government has taken the first step towards mandatory B2G e-invoicing.

The Hows and Whys of Fringe Benefits Tax

Fringe benefits are perks or compensation to employees beyond the basic salary. Depending on the frequency of the benefit, the value or its nature, the benefit will be deemed salary, and thus will be subject to wage taxation.

Vietnam Approves Decrease in Standard VAT Rate from 10% to 8%

UPDATE 17/01/2022 The National Assembly of Vietnam has approved a Resolution reducing the standard VAT rate to 8% for groups of goods and services currently being supplied at 10% except for: telecommunications;, information technology, financial activities, banking, securities and insurance, real estate, metal production and manufacturing of prefabricated metal products, mining (excluding coal), production of coke and refined petroleum; manufacturing […]

Switzerland Proposes VAT Increases in 2023

UPDATE 17/01/2022 Switzerland Proposes VAT increases in 2023. The Federal and Cantonal Council of Switzerland has put forward a proposal to increase the standard VAT rate of 7.7% to 8.1%, the reduced VAT rate to be increased from 2.5% to 2.6% and the special rate for accommodation services to  be increased from 3.7% to 3.8% respectively. The proposal requires a […]

Poland: Government Very Likely to Reduce VAT Rate on Fuel (Gasoline and Diesel) from 23% to 8% from February 2022

UPDATE 10/01/2022 The Polish Prime Minister has recently announced his intention to reduce the VAT rate on fuel from 23% to 8% to battle inflation in the country. He further added that the reduction should come into force in the beginning of February 2022 and that the lower rate will apply for six months. Sources: prawo.pl , polskieradio.pl

Poland: Polish Government Considers Reducing the VAT on Essential Food to Zero

UPDATE 28/12/2021   The Polish government may reduce the VAT rate on essential foodstuff to zero %, in the face of rapidly rising inflation in the country. As pointed out by the Minister of Finance, the zero VAT rate would apply to foodstuffs that are currently subject to a reduced rate of 5%. A request has already been sent to the […]

Poland Rumors to Mandate e-Invoicing Starting January 2023

UPDATE 29/11/2021   In Poland, the laws introducing  e-invoicing and VAT groups were signed by the President and published in the Journal of Laws. E-invoicing will be voluntary from 1 January 2022 and it is rumored that it will be mandatory from 1 January 2023. The regulations regarding VAT groups will come into force as of 1 July 2022. UPDATE 20/10/2021   […]

The President of Poland Signs into Law the Option to Tax Financial Services Starting January 2022

UPDATE 03/12/2021   Currently, financial services in Poland are obligatorily exempt from VAT. This deprives financial institutions of the right to deduct the input tax included in the price of the purchased goods and services. The law introducing the option to tax financial services was signed by the President. It enters into force as of January 1, 2022, which means that […]

Taxable Employee Benefits at Year’s End

Today more than ever, companies are vying for the most talented employees in an increasingly competitive workforce. On top of that, because of the pandemic, employees around the world now work remotely or in a hybrid situation, dividing their time between remote and on-premises work. This relatively new business model adds an extra layer of complexity when it comes to […]

Romania: Important New Clarifications on the SAF-T Reporting Obligation

The Romanian TA (ANAF) has finalized the deadlines for submission of SAF-T declaration (Declaration 406) and date that the SAF-T data reporting becomes obligatory for all categories of taxpayers. The reporting obligation becomes effective as per the following dates: 1 January 2022 – for taxpayers included in the category of large taxpayers on 1 January 2022 and who also belonged […]

Romania Reduces VAT Rate on e-Books from 19% to 5%, Effective from 1st January 2022

The current version of the Romanian VAT Law applies a reduced VAT rate of 5% for textbooks, books, newspapers and magazines, but only in printed format. The electronic version of such publications is currently taxed at a VAT rate of 19%. Therefore, in order to allow the harmonization of VAT rates between both the physical and electronic versions, the Romanian […]

Turkey: VAT Rate Reduced on Legal Services from 18% to 8%, Starting from 1st December 2021

Turkey has reduced its VAT rate on legal services. Previously such services were charged at the standard VAT rate of 18%. Due to the change, effective from 1st December 2021, legal services will be charged at a reduced rate of 8%. Sources: Presidential Decision 4862 (in Turkish) , IBFD

Bahrain Doubles VAT Rate from 5% to 10%, Effective from 1st January 2022

UPDATE 16/12/2021 The parliament of the Kingdom of Bahrain has approved a government proposal to increase the VAT rate from the current 5% to 10%, which will be effective from 1st January 2022. The increase is part of the government’s efforts to balance the Kingdom’s public finances through expenditure rationalization measures and revenue enhancement measures. Source: Update of the Fiscal […]

Why Your Business Should Be Using Electronic Invoicing

What is e-invoicing? E-invoicing is short for electronic invoicing—a form of electronic billing. It’s sometimes also referred to as electronic invoice processing. Basically, it speeds up the whole invoice cycle. E-invoicing is used between customers (buyers) and suppliers to share documents related to their business transactions worldwide. It’s also used in transactions for business to business, government to government, business […]

Digital Nomads Grow 49% YOY from 2019 to 2020

Business travel, once the realm of sales professionals and global management, is now mainstream with many employees setting up shop on their own, working from home one month, in New York another, and joining the family on vacation in Europe for a month during the summer. The COVID-19 pandemic has forever changed the concept of where employees can be successful […]

ISO Certification: Blue dot’s Ongoing Commitment to IT Security

Ensuring information security with effective risk assessment and best practices is the be-all and end-all for data-driven organizations.

Welcome to Blue dot: Farrukh Iftikhar

As Blue dot’s EMEA Sales Director, Farrukh Iftikhar heads up sales in Europe, the Middle East and Africa, forging new relationships and locking in opportunities.

Penalties for Noncompliance of Taxable Employee Benefits

In today’s day and age, workers enjoy a wide array of employee benefits. Scandinavian countries rank highly in employee benefits, with Denmark, Sweden, and Norway each spending 25% of their GDP on social services.

Why the US Doesn’t Have Value-Added Tax

Value-added tax, often shortened to VAT, is a common tax system present in much of the world.

Welcome to Blue dot: Scott Newell

Meet Blue dot’s new senior sales manager for the United States: Scott Newell. Scott is a veteran SaaS sales executive who brings rich experience in enterprise sales, implementation and leadership to the Blue dot team.

Romania Takes the First Steps to Introduce National E-Invoicing

Recently, Romania’s Ministry of Finance made the announcement that it will introduce national e-invoicing in 2022.

UK VAT Update: New Temporary Reduced VAT Rate from October 1

As the UK economy reopened following a long period of COVID-19 lockdowns and restrictions, certain eligible businesses received a boost from the government in the form of a temporary reduced VAT rate of 5%.

EU VAT Refunds FY 2020: The 30 September Deadline is Fast Approaching

Read this guide for all you need to know about your opportunities in applying for a Foreign VAT refund and the relevant deadlines.

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