Tender Details

Country: United Kingdom
Summary: Request for Information Vat Split Payments
GBT Ref No: 55294136
Deadline: 30 Jul 2021
Financier: Self Financed
Purchaser Ownership: Government
Tender Value: Refer Document
Notice Type: Tender
Document Ref. No.: Doc707332827
Purchaser's Detail:
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Description:
Title : Request for Information VAT Split Payments
Location Of Contract : United Kingdom
Industry : Financial information systems - 48812000 Banking services - 66110000 Financial consultancy, financial transaction processing and clearing-house services - 66170000
Description : HM Revenue & Customs (HMRC) invites suppliers, including those from the financial industry and FinTechs, to share information on the possibility of extracting VAT from payments (Split Payment), to address VAT non-compliance by non-UK based goods and service sellers.This is a first use case for Split Payment, and a successful Proof of Concept demonstration has the potential to unlock the path toward its use for digitally automated tax modernisation. Automation that might stem from future enhanced client services by payment intermediaries - integrating with business systems and software to support a smoother, easier experience for compliant taxpayers.Seeking to shape a mechanism through which the UK consumption of overseas supplied goods or services irresistibly attracts VAT is part of HMRC's commitment to uphold fairness in the tax system. This aligns with HMRC's strategic objective to 'maintain taxpayers' consent through fair treatment and protect society from harm'.Our interest is in how a split payment technique could be shaped to extract VAT from UK buyers' payments to non-compliant overseas se...
Documents:

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Request for Information Vat Split Payments - Uk Tender

The H M REVENUE & CUSTOMS, a Government sector organization in United Kingdom, has announced a new tender for Request for Information Vat Split Payments. This tender is published on UkTender under GBT Ref No: 55294136 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2021-07-30.

The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.