Indirect Tax
VAT & E-invoicing Updates
Uruguay extends application of reduced VAT rate for tourism sector until 30 April 2027
(Excerpts from various sources)
The Government of Uruguay has extended the 9% VAT reduction on certain tourism-related transactions paid through eligible electronic payment methods until 30 April 2027, to continue supporting the tourism sector. This extends the relief that was previously scheduled to expire on 30 September 2026.
Spain mandates E-invoicing
(Excerpts from various sources)
Spain has finalized the regulatory framework for its mandatory e-invoicing regime, including the technical and operational requirements. The obligation will be implemented in phases, beginning 6 October 2027 for businesses with turnover exceeding EUR 8 million and 6 October 2028 for all other covered taxpayers.
Cyprus reduces VAT rate for residential photovoltaic systems
(Excerpts from various sources)
Cyprus introduces a reduced VAT rate of 9% on the supply of photovoltaic systems to residential customers for self-consumption of electricity, effective 16 October 2026. Under the VAT Law, suppliers may apply the reduced rate where the goods or services are supplied on or after the effective date, even if payment was received or a VAT invoice was issued before that date.