E-invoicing and VAT in the EU

The harmonisation of rules for e-invoicing throughout the EU to close the VAT gap is a major move to make the EU more digital.

Tax digitalisation

The digitalisation of tax is an extensive subject and has a different meaning to governments, businesses and other stakeholders.

James Cowper Kreston spring statement

Account and business advisors James Cowper Kreston release their 2022 spring statement as the Chancellor addresses the backdrop of the rising inflation.

FAQ; Tax Implications of Blockchain

The regulatory environment for Blockchain is rapidly changing. This new technology continues to revolutionize social and economic activities. The frequently asked questions (‘FAQs’) below expand upon the meaning of Blockchain, its usage, and corresponding tax implications.

BANSBACH adds BDO firm to Freiburg team

Kreston Global member firm, BANSBACH, has added another location in Freiburg, growing the audit offering. BANSBACH currently has over 400 employees across 9 offices across Germany.

FAQ; Non-Fungible Tokens (NFTs)

Non-Fungible Tokens (NFTs), are cryptographically secured units of data that confirm the authenticity and ownership of a digital asset.

Understanding VAT

VAT and GST are systems that require businesses to charge tax on sales, unless an exemption or other relief applies, whilst allowing for the recovery of the VAT/GST paid on purchases related to those taxable sales.

Sales Tax and Use Tax

Sales Tax is similar to VAT/GST in that it is also charged on supplies of goods and services, but it is a consumption-based tax, charged on the sale to the end consumer rather than throughout the supply chain.

Customs Duties and Customs Clearance

Customs duties are taxes that are imposed on the importation of goods (and possibly certain exportations). The customs duty due is usually based on the value of the imported goods. Subject to the Incoterms used, generally the importer is responsible for paying the customs duty.

Changes to Mexican VAT law in 2022

The new 2022 Revenue Law in Mexico is on track to being approved, only awaiting the Senate´s decision. This initiative under which the Mexican government estimates that it will be attaining just over $7 billion pesos, of which $3.9 billion will allegedly come directly from tax collections.

An Introduction to Trusts

Rebecca Bright, Tax Director for UK-based firm, Duncan & Toplis, has recently published, ‘an introduction to trusts’, outlining various aspects when it comes to understanding the definition, benefits, and intricacies of trusts