Fiscal feed
New document was uploaded: Recorded webinar: It’s time to grow together
In this discussion, we have introduced our new partner program and what is essential for international growth, while dealing with topics such as - Success factors for POS applications - What does globalization mean? - How to grow globally? Furthermore, we presented benefits for our partners. Last but not least, we presented our fiscal cloud architecture and its important features.You can down... Read more
In this discussion, we have introduced our new partner program and what is essential for internation... Read more
ViDA implementation is likely to be postponed.
The European Union (EU) may postpone the implementation of its ambitious VAT reforms for the digital economy by one year, according to a proposal from a key parliamentary committee. The VAT in the Digital Age (ViDA) proposal, which was unveiled by the European Commission in July 2020, aims to modernize and simplify the VAT rules for online businesses and platforms and to introduce mandatory digit... Read more
The European Union (EU) may postpone the implementation of its ambitious VAT reforms for the digital... Read more
The digital euro is coming
In June, the European Union should receive its first legal proposal on the digital euro. The launch of the digital euro could be a reality in three or four years if the Bank's Board of Directors decides in October to start the preparatory phase and testing of the digital euro. This phase can last two or three years. The digital euro is needed not only to preserve financial stability but also to s... Read more
In June, the European Union should receive its first legal proposal on the digital euro. The launch... Read more
European Union to introduce custom duties for products cheaper than 150 EUR
The European Commission has proposed a reform of the customs rules in the Union, which, among other things, provides for the introduction of customs duties for products whose value is lower than 150 euros. The proposed reform abolishes the current threshold on the basis of which goods with a value of less than 150 euros are exempted from customs duty, which was widely exploited by fraudsters. The... Read more
The European Commission has proposed a reform of the customs rules in the Union, which, among other... Read more
Does ViDA have an impact on retail or wholesale?
The biggest impact on retailers and wholesalers is regarding VAT registration, VAT compliance, and cross-border transactions, whereas online marketplaces are impacted the most. Read more
The biggest impact on retailers and wholesalers is regarding VAT registration, VAT compliance, and c... Read more
Does ViDA have an impact on fiscalization processes?
Since VAT is a key component of the fiscalization process, we can state with a certain level of certainty that VAT in the Digital Age (ViDA) will impact fiscalization, especially in regard to online retailers and cross-border sales. Read more
Since VAT is a key component of the fiscalization process, we can state with a certain level of cert... Read more
Purpose of VAT in the Digital Age (ViDA)
In its core, ViDA covers three distinct but interrelated areas of VAT policy: - Digital reporting requirements (DRRs); - The VAT Treatment of the Platform Economy; and - The Single Place of VAT Registration and Import One-Stop Shop (IOSS) For each of these pillars, a time frame for implementation is set as follows: Digital Reporting Requirements (DRRs) As of January 2028: The propos... Read more
In its core, ViDA covers three distinct but interrelated areas of VAT policy: - Digital reportin... Read more
Czechia's government presented a fiscal reform plan
Czechia's government has recently announced a large-scale fiscal reform package aimed at addressing the country's significant public deficit. This reform package, consisting of over 50 measures, is expected to impact both expats and locals in various ways. While the government plans to implement these changes in January 2024, parliamentary approval is required. Among the significant changes, the r... Read more
Czechia's government has recently announced a large-scale fiscal reform package aimed at addressing... Read more
The e-invoicing process
An invoice must go through a variety of processes and phases before it can be archived. There are eight steps that are generally applicable, despite the fact that the processes and the degree of automation may vary dramatically between companies, industries, and geographical areas. Those are: the seller prepares the invoice, the seller issues the invoice, the seller sends the invoice, the bu... Read more
An invoice must go through a variety of processes and phases before it can be archived. There are ei... Read more
European Union: VAT Committee publishes guidance on VAT treatment of NFTs
The European Union (EU) VAT Committee has published a working paper on NFTs, which sets out the current NFT ecosystem landscape and provides qualifying definitions of NFTs and related concepts that are currently undefined in existing EU regulations. The working paper also provides guidance on the VAT treatment of NFT transactions, which must be analyzed on a case-by-case basis to determine whether... Read more
The European Union (EU) VAT Committee has published a working paper on NFTs, which sets out the curr... Read more
ViDA initiative as a precursor to EU-wide e-invoicing
The ViDA initiative, or VAT in the Digital Age, aims to modernize and harmonize the current VAT system in the European Union (EU) in order to curb tax fraud. The initiative is a series of measures that include introducing mandatory electronic invoicing and a transaction-based reporting system for intra-community B2B sales. Starting January 1st, 2028, these new regulations will be mandatory thro... Read more
The ViDA initiative, or VAT in the Digital Age, aims to modernize and harmonize the current VAT syst... Read more
What does the ongoing discussion in Czechia over VAT represent for consumers?
The Czech Republic's Finance Ministry is facing criticism for its proposal to change the Value Added Tax (VAT) system and revise VAT rates. According to a plan by the Finance Ministry, there would only be two VAT rates instead of three. There would only be 14 percent and 21 percent rates, as opposed to the current rates of 10 percent, 15 percent, and 21 percent. What else? The proposed change... Read more
The Czech Republic's Finance Ministry is facing criticism for its proposal to change the Value Added... Read more
Prices displayed in online sales are regulated at EU level
The European Union has introduced new rules aimed at promoting transparency in online retail sales. Under these new rules, online retailers must display prices in a clear and transparent manner, including any additional charges such as shipping or taxes. The rules were introduced in response to growing consumer concerns about hidden costs and misleading pricing practices in online sales. Many con... Read more
The European Union has introduced new rules aimed at promoting transparency in online retail sales.... Read more
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Subscribe for countryNew document was uploaded: Recorded webinar: New regulations around e-receipts in European countries
On April 5, 2023, Fiscal Solutions organized a free webinar on the topic of „New regulations around e-receipts in European countries“. The webinar was held by Mitul Jain, CEO and co-founder at Refive, and Nikolina Basić, Legal Consultant at Fiscal Solutions. This webinar introduces to the specific regulations in various European countries when it comes to e-receipts. Read more
On April 5, 2023, Fiscal Solutions organized a free webinar on the topic of „New regulations around... Read more
The European Commission's VAT in the Digital Age reforms have received an initial positive review from the EDPS
The European Commission's VAT in the Digital Age amendments have received an initial favorable assessment from the EU's independent European Data Protection Supervisor (EDPS), especially the Digital Reporting Standards for delivering transaction data on B2B invoices to the European Commission starting in 2028. The EDPS examines how the EU, including the Commission, processes personal data. It atte... Read more
The European Commission's VAT in the Digital Age amendments have received an initial favorable asses... Read more
New document was uploaded: Recorded webinar: Meet Fiscal Solutions – What is our core business?
On March 15, 2023, Fiscal Solutions organized a free webinar on the topic of „Meet Fiscal Solutions – What is our core business?“. The webinar was held by Danilo Krstonijević, Account Manager at Fiscal Solutions. This webinar introduces us as an IT specialist for fiscalization and explains in detail what we do. Read more
On March 15, 2023, Fiscal Solutions organized a free webinar on the topic of „Meet Fiscal Solutions... Read more
Fiscal Requirements Portal by Fiscal Solutions
Who we are?
We are team of enthusiast with decades of experience in IT in Retail and related fiscal topics. During the years of constant involvement in hundreds of consultancies sessions, with World leading Retailers and POS software providers, we created and maintained hundreds of different documents and other related material. All this content is shaped to meet internationalization requirements in Retail world. By Fiscal Requirements Portal, we made it available to you, at any time, from any place and always up to date!