Global VAT & Indirect Tax News

Belgium will implement a new VAT rate structure from 1 March 2026, shifting take‑away meals and many leisure services to a 12% rate while raising the rate for furnished accommodation to 12% and moving plant protection products to the standard 21% rate. The changes also refine drink taxation in restaurants and preserve 6% rates for specific cultural performances.

The article explains the EU VAT Directive’s call‑off stock simplification, which exempts the transfer of goods between Member States from VAT when a single, predetermined customer is known. It contrasts this with consignment stock, which triggers a deemed intra‑Community supply and requires VAT registration in the destination country. Practical compliance requirements such as maintaining stock registers, submitting EC Sales List reports, and potential Intrastat reporting are also outlined.

The Italian Revenue Agency has released the 2026 VAT declaration forms and instructions for the 2025 tax year. The new forms, approved by Provvedimento 15/01/2026 n. 51732, introduce several structural changes and new fields. Taxpayers must submit the declaration electronically between 1 February and 30 April 2026.

South Korea’s National Tax Service has introduced a new filing requirement for VAT‑exempt business owners, including YouTubers, drivers, and delivery riders. All such owners must submit an annual business operation status report by February 10, 2025, and will receive mobile notifications starting on the 21st of the reporting month. The rule expands guidance to one‑person media creators and sets a 24 million won income threshold for certain personal service providers.

North Macedonia has introduced several VAT and e‑invoicing updates in late 2025 and early 2026. The VAT exemption for small‑value shipments is now limited to non‑commercial items, the 5% preferential rate for residential buildings is extended to 2028, and a pilot e‑invoice system (e‑Faktura) began on 5 January 2026. A new Top‑up Tax Rulebook was also published, aligning with OECD standards.

Bulgaria’s VAT reform, effective 1 January 2026, introduces a small‑enterprise regime allowing companies with turnover up to €51,130 domestically and €100,000 EU‑wide to operate VAT‑free across the EU, removes the reverse‑charge for goods assembled or installed in Bulgaria, and expands registration thresholds to include subsidies, packaging, transport and other charges, all expressed in euros following euro adoption.

Denmark has increased its Intrastat Dispatches threshold to DKK 11.8 million effective 1 January 2026, while the Arrivals threshold remains unchanged at DKK 42 million. The change requires businesses to report additional data in the electronic Intrastat form, including goods description, commodity code, delivery terms, transport mode, destination and origin countries, weight/quantity, and invoice value. Since January 2022, Intrastat also mandates the country of origin for dispatches and the VAT ID of the recipient.

The Polish Ministry of Finance confirms that the mandatory KSeF e‑invoicing system will start as scheduled, with no delays. The system will be operational from 1 Feb 2026 for high‑turnover advertisers, from 1 Apr 2026 for other taxpayers (excluding those with monthly sales ≤10 000 PLN), and from 1 Jan 2027 for those with lower sales. No penalties will apply until 1 Jan 2027, after which non‑compliance will be penalised.