Archive for July, 2015

Austrian Reduced VAT rate increase

Austrian Reduced VAT rate increase

As part of their 2016 budget Austria have proposed a reduced VAT rate hike raising it from 10% to 13% for the majority of supplies, this is expected to come into force on 1st January 2016, the list of supplies included in this VAT hike are:

Cultural events, including entrance to public museums and galleries

• Livestock and seeds
• Hotels (applies later in 2016)

Whilst staying at 10% will be:

• Supplies of food
• Pharmaceutical products

UKOUG Partner of The Year Awards 2015

Voting is now open – vote for eBiz Answers today!

It’s that time of year again and we are pleased to announce that eBiz Answers Ltd have been shortlisted for UKOUG Partner of the Year Awards for categories:

– UKOUG Innovative (Product /Service) Partner of the Year Award
– UKOUG SME Partner of the Year Award

These awards provide recognition to Oracle Partners for the contribution that they make by offering their services to Oracle users. This year’s UKOUG Partner of the Year Awards will be presented on Thursday 15th October at The Waldorf Hilton, London.

After great success at last years awards, we hope to continue this winning run with the support of our customers and clients.

Voting closes at midnight on 21st September.

To vote for eBiz Answers visit: UKOUG Partner of the Year Awards

For further details of the awards or to see the full list of finalists go to:

See highlights of eBiz Answers 2014/15 UKOUG PYA award ceremony here.

Greek bailout agreement reached

Greece agree bailout deal

An agreement was finally reached last Monday for a €86B bailout deal for Greece, the terms of the new bailout included implementing by Wednesday 15th July to pass laws that:

• Implement VAT hikes.
• Cut pensions.
• Take steps to ensure the independence of Greece’s statistics office is maintained.
• Put measures in place to automatically slash spending if Greece fails to meet its targets on primary surpluses (revenue minus expenditure excluding debt servicing costs).

And by Wednesday 22nd July to:

• Overhaul its civil justice system.
• Implement the Bank Recovery and Resolution Directive (BRRD) to bring bank resolution laws in line with the rest of the EU.
• Market reforms with a clear timetable for implementation of all OECD recommendations, including Sunday trade, sales periods, pharmacy ownership, milk and bakeries, except over-the-counter pharmaceutical products, which will be implemented in a next step.
• Privatisation of the electricity transmission network operator (ADMIE), unless replacement measures can be found that have equivalent effect on competition.
• Labour market policies should be aligned with international and European best practices.
• Adopt the necessary steps to strengthen the financial sector. Continue Reading

Warning – Setting up Tax on Oracle Fusion

Having done quite a bit of set-up on Fusion for tax I am still exasperated as to how bad it is for anyone setting it up. The functionality available, what they have done to bring R12 Tax to the next level, is truly fantastic but getting to that point is crazily frustrating! We developed the eBTax Rapid Install™ tool to allow for a fast implementation. In just 15 minutes we can copy an entire tax set-up for 100 countries from one instance to another. But with Fusion tax, Oracle have introduced the spreadsheet up-loaders! What a joke! Apart form the fact they only cater for the most basic of set ups, (i.e. for a regime upload, its the name, the code and the country, that is it!) there are so many bugs with the loaders that using them actually takes longer than just manually setting up! Because of the missing data that the uploads cannot handle, you have to go back through and edit the conditions and rules anyway. Right now, you can go and edit conditions even if they have been allocated to a rule – something not possible in R12 but it’s essential in Fusion because there are so many bugs. No doubt some idiot will stop you from doing this before they have fixed all the other bugs meaning you will be forever creating new condition sets to replace those that failed in the uploads. Continue Reading

Proud to be supporting Team OMJ

Two brothers, two charities, 10,000 miles and one amazing adventure.

Sunday 19th July saw the launch of the 2015 Mongol Rally from Goodwood motorcircuit, the home of racing. Sitting (not so comfortably) in 2nd place on the starting grid was Team OMJ, two brothers – Pete (aka Mini Pete) and Mike Sellens from Hastings, East Sussex ready to start the greatest motoring adventure on the planet – The Mongol Rally.

Team OMJ getting ready to go


Raising money for two excellent charities St Michael’s Hospice Hastings and Cool Earth, Team OMJ (Old Man’s Junk) are taking a 43 year old Mini Scamp 10,000 miles, through 18 countries, across the mountains, desert and steppe of Europe and Asia – with No Backup, No Support and No Set Route. Continue Reading

eBiz Answers developing Partnerships

eBiz Answers would like to welcome Namos Solutions Ltd to a growing partner list of Oracle specialists.

Namos Solutions Ltd is a leading Oracle partner that uses Oracle software to help businesses to improve processes and performance. Namos excel at providing Oracle implementations, upgrades, services, support and the consultation your business needs to match and exceed the competition in today’s business environment.

Some of the services offered by Namos Solutions include:

• Consulting and Technical Development Services
• Hosting, Platform and Infrastructure Services
• On-Site and Remote Training on Oracle Products
• Project Management, Implementation and Testing Services
• Bespoke Business Intelligence and Reporting Solutions

Continue Reading

Oracle eBusiness Suite – FREE Virtual Conference

The 21st & 22nd of July 2015 sees eprentise® present the first-ever FREE full virtual conference for the Oracle eBusiness Suite community.

This first-of-its-kind virtual conference brings to your desktop industry experts and leading EBS solution providers for a dynamic online event focused on Oracle E-Business Suite.

The event will be a full conference complete with multiple concurrent educational tracks, keynote speakers, ask-the-experts session, networking sessions, an exhibit hall, live chatting, and more – all done in a virtual space from the convenience of your computer.

Don’t miss this chance to enhance your technical knowledge, broaden your skills, collaborate with the EBS network, and connect with industry leaders. This is your FREE opportunity to attend this 100% virtual conference, earning CPE and PDU credits, and learning and participating with top professionals in the EBS community.

To attend the event – REGISTER TODAY FOR FREE

Greece presents new bailout proposals

Greece new bail out proposals

Greece have outlined their latest VAT proposals since the ‘No’ referendum last Sunday, so far their main points include:

• Cuts to military spending.
• VAT changes.
• Corporate tax increases.
• Raising retirement age to 67.
• Crack down on tax fraud.
• Increase tax on shipping companies.

The key VAT points are:

• 30% relief for Greek islands to be scrapped – only the most remote islands will keep these tax breaks.
• Restaurants and catering services VAT will rise from 13% to 23%.
• Reduction of the 6.5% to 6%, now only applicable to books, theatre admission and certain medicines.
• A Reduced 13% tax on basic foodstuffs. Continue Reading

Poland plan to cut VAT

Poland VAT cut

Today Poland’s ruling Civic Platform (PO) party announced plans to lower the VAT rate from 23% to 22% starting from the 1st of January 2016. The VAT rate was raised in 2011 to raise budget income during the financial crisis, when its GDP reached 10%, a rate of 3% or lower is required to stay in the Euro currency. However Poland fared well during the financial crisis being one of the only countries not to go into recession, and latest figures show that it could now reach the Euro currency figure comfortably, with the PO currently being pro-EU. This drop in VAT is expected to affect the budget as bringing it down by 1 percentage point will cost the budget an estimated 5 to 6 billion zlotys.

However nothing is yet set out as there will be a general election in October and the PO’s current strongest competition has not laid out any plans for a VAT cut but have proposed plans to stay out of the Euro zone.

Romania’s potential new reduced VAT rate & the success of the food VAT rate drops

Romania potential new reduced VAT rate & the success of the food VAT rate drops

Romania’s Lower House of Parliament has approved plans to introduce a new reduced rate of VAT to 5% for cultural services, lower value houses and printed media. The new 5% VAT rate would apply to books, newspapers, magazines, and tickets to museums, monuments, cultural events, cinemas and sporting events.

More approvals from the Upper House of Parliament still need to be received before this reduced VAT rate can be introduced.

Romania’s recent success

Romania has recently seen success in lowering the tax rate on food products by 15% (see previous eBiz Answers post). From this they have seen an increase of 17% in the number of products sold in the first 2 weeks, compared to figures from last year, with coffee seeing the biggest increase in sales, going up 25%. Overall sales were 12% higher than in May and 17% higher than June 2014.

Mexico VAT Scope change

Mexico raises VAT rate on ready made snacks and foodstuffs

The Mexican Government has re-categorised ready-made-foods from the reduced rate of 0% to the standard rate of 16% effective from the 1st of July 2015.

In agreement with the Mexican law, any food that is prepared ready to eat at point of sale is considered as ready made and is now subject to the new vat rate. This includes any ‘Fast food’, sandwiches, rolls etc. Previously, only food prepared by restaurants has been subject to VAT, under current VAT law, which remains unchanged, the supplies of supermarkets and convenience stores should also have been subject to VAT, rather than the 0 percent rate that applies to food in general.

Greek financial crisis – possible VAT changes

July 2015

Greek VAT reforms in the economic crisis

Yesterday Greece became the first European Union country to miss their deadline to repay a loan, totaling around £1.1bn, from the International Monetary Fund (IMF), after their request for another extension for the previous bailout was denied on Tuesday. By being in arrears to the world’s financial backbone, Greece immediately lose access to IMF resources and could eventually be kicked out of the fund entirely. If the country goes bankrupt or decides to leave the 19-nation Eurozone, the situation could create instability in the region and resonate around the globe.

Greece’s total debt is around €360,000,000,000 which is 180% of its GDP and with around 25% of its citizens unemployed what are Greece doing to try and combat this economic crisis?

Greece’s latest proposals are focused on VAT rates, early retirement measures and tax increases, which aim to cover a good part of the country’s budgetary gap, which is around €900M, the proposals around VAT could bring in around two billion euros. In terms of the VAT proposals last week the government offered VAT increases on a range of products, so the standard rate of 23% would remain but the scope would change with the standard rate being extended to more products including:

• Water supplies
• Transport of passengers
• Social housing
• Repairs to private housing
• Agricultural imports
• Social services
• Food Outlets
• Hotel stays

But nothing is so far confirmed with many other products and services also in the mix for potential VAT raise and the lower 6% reduced rate could be limited to books and medical supplies. Greece’s creditors also want the 30% VAT discount applied to Greek islands eliminated making VAT uniform throughout the country but Greece wants to keep the discount in place. Continue Reading