VAT News Updates

France: New rules on Import VAT

10th February: Since 1 January 2022 companies have an obligation to obtain a French VAT number if they import goods into France and as per the new rules, companies report their import VAT in their VAT returns via the reverse charge mechanism instead of paying it to the Customs office.

What are Continuous Transaction Controls?

8th February: CTC (Continuous Transaction Control) is the term used to describe mandatory “real time” invoice reporting and validation by the tax authorities through e-invoicing or transaction listings.
CTCs allow tax authorities to collect data on business transactions directly from the businesses management systems in real-time or near real-time