Switzerland – New VAT registration requirements on foreign companies
Switzerland is planning to require non-resident companies that provide services in Switzerland to charge Swiss VAT on the services at a rate of 8%. There is a need for all foreign service providers to comply with this requirement so that Swiss
See MorePoland – Reduction of VAT by 2017
In Poland the government intends to raise the standard rate of VAT again by 2017. The standard rate has already been raised to 23% from January 2011 as a consequence of the financial crisis. Although Poland did not undergo a recession after the
See MorePhilippines May Exempt Humanitarian Relief from VAT
Bill 4054 in the Philippines would provide for a VAT exemption for medical and educational goods that are imported into the country as a result of donations from abroad, and would also introduce a similar VAT exemption for goods donated from abroad
See MoreEuropean Commission Asks Hungary to End Excise Restrictions
Hungary has been asked by the European Commission to change the excise rates currently charged on liquor and tobacco products. The structure of alcohol duties within the EU has been harmonized by an EU Directive and member states must therefore
See MoreEU Joint TP Forum Publishes Member States’ Profiles
The European Union Joint Transfer Pricing Forum (JTPF) has issued descriptions of the transfer pricing systems of European Union (EU) member states in a standardized form, giving relevant information on aspects of the transfer pricing rules and tax
See MoreChinese exporters gain VAT refund
The Chinese State Administration of Taxation (SAT) has given more time to exporters to make an application for a VAT refund. Enterprises that export goods from China may apply for permission to make input tax reclaims to obtain a VAT refund. An
See MoreNigeria: Managing Transfer Pricing risks
The Nigerian transfer pricing rules are still relatively new, as detailed implementation of the transfer pricing law effectively began only with the release of the Transfer Pricing Regulations in 2012. Taxpayers must therefore make sure that they
See MoreEuropean Union: JTPF presents transfer pricing profiles of EU Member States
The EU Joint Transfer Pricing Forum (JTPF) has presented the transfer pricing profiles of all EU Member States. The profiles contain information about domestic transfer pricing frameworks, competent authorities’ contact details and other useful
See MoreEU Parliament Considers Change to EU Funding
The members of the European Parliament have given their support to planned measures to lower the share of VAT receipts of member states that go towards the funding of EU projects. According to plans adopted on 16 April 2014, the amount of funds
See MoreTax Freedom Day Comes Later For US Taxpayers
An organization known as the Tax Foundation (TF) computes the date of a day called Tax Freedom Day each year. This date is found by applying the average tax burden, expressed as a percentage, to the number of days in the year. The Tax Freedom Day is
See MoreUS: IRS Confirms Deductibility of Puerto Rican Excise Tax
The IRS has confirmed in a document published recently (Letter 2014-0006) that the IRS will not challenge the claim that Puerto Rico’s manufacturers excise tax is a tax that can be credited against United States federal income tax. In October
See MoreSpanish Tax Cuts to Favor Low Income Workers
The Spanish government has emphasized its intention to lower the personal income tax for all individuals and in particular for lower income groups. The Spanish government is to raise the tax incentives in respect of savings and investment and will
See MoreGermany and the EU Agree Energy Tax Break Revision
Germany is being allowed by the European Commission to continue to give energy tax incentives to 65 sectors under the renewable energy tax rules. There has been a long discussion as to whether the measures constitute illegal state aid under EU
See MoreEU – VAT refund claims are due by 30 June 2014
Businesses incurring costs in many EU countries may recover the VAT on those costs even if they are not registered for VAT in that particular country. In many of the EU jurisdictions there is a 30 June deadline in any year for making the reclaim.
See MoreEU – Changes to VAT place-of-supply rules in 2015
There will be a change to the EU VAT place-of-supply rules, which determine where VAT is collected and remitted for some types of service, with effect from 1 January 2015. This change will affect businesses providing services such as
See MoreEU Tackles Single Market Tax Obstacles
The European Commission has begun two public consultations, on discriminatory tax rules that my affect the position of individuals in European Union (EU) member states. These consultations are aim to help efforts to take away tax obstacles to
See MoreEU: Court of Justice decision affecting US regulated investment companies
On 10 April 2014, the Court of Justice of the European Union (CJEU) ruled in case C-190/12 concerning the Emerging Markets Series of DFA Investment Trust Company. The CJEU held that barring a non-EU investment fund, in this case a US investment
See MoreIreland – Taxation of Termination Payments Challenged
European Commission has requested Ireland to change its legislation on termination payments paid to individuals when their employment contracts end, as the Commission is of the opinion that the Irish rules are a restriction on the free movement of
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