European Parliament Urged To Outlaw Anonymous Shell Companies
The European Parliament has been urged to support the creation of public registries of corporate ownership. This suggestion has been made by a Washington DC-based research and advocacy organization. Global Financial Integrity (GIF) studies and
See MoreCzech Republic joins Convention and protocol on Mutual Administrative Assistance in Tax Matters
The multilateral Convention on Mutual Administrative Assistance in Tax Matters, as amended by the 2010 protocol, entered into force in respect of the Czech Republic on 1 February 2014. The Convention and the amending protocol generally apply in the
See MoreCroatia-Bill Ratifying Multilateral Tax Convention
The government of Croatia has sent a bill to parliament to ratify the Convention on Mutual Administrative Assistance in Tax Matters. This move forms part of the country's aims to fulfill its tax obligations on an international level. Croatia signed
See MoreEU: Digital economy taxation expert group
The high-level expert group on digital taxation of the EC met for the second time on 14 to 15 January 2014. The meeting focused on the interaction of the group’s work with the OECD, understanding business models in the digital economy, VAT issues
See MoreEU: VAT pilot project on international SME transactions
The European Commission has announced a one year extension of the pilot project that seeks to improve certainty for small and medium enterprises (SMEs) in cross border VAT transactions. 14 EU Member States (Belgium, Estonia, Spain, France, Cyprus,
See MoreEU: VAT rates changes for 2014
The European Commission has issued the report on value added tax (VAT) rates applicable in EU Member States for 2014: Member States Super Reduced Rate Reduced Rate Standard Rate Parking Rate Belgium - 6 / 12 21 12 Bulgaria - 9 20 - Czech
See MoreChina: VAT refunds on e-commerce
Clarification has been issued of Chinese VAT refund processes for Chinese online retailers selling outside China. This guidance covers enterprises selling via their own website or through external platforms such as Amazon. The new guidance came
See MoreEU: Uniform Customs Code effective from 1 May 2016
The European Commission has notified that the substantive provisions of the Uniform Customs Code have entered into force 30 October 2013, and will be effective from 1 May 2016. Until then, the Community Customs Code and its implementing provisions
See MoreEU: Royalties, license fees dutiable from 1 May 2016
The European Commission has pointed out that the process for determining the transaction value would be amended under the Uniform Customs Code (UCC), due to enter into force on 1 May 2016, resulting in royalties being more often included in the
See MoreEU – Forms for customs enforcement of IP rights
The European Commission has issued new forms which should be used from 1 January 2014 in order to ensure customs enforcement of intellectual property rights. The new implementing regulation that introduces such standard forms, and rules for
See MoreEU: Certain reduced duty rates ending in 2015
The European Commission has notified that EU imports of goods originating from China, Ecuador, the Maldives, and Thailand will no longer benefit from a zero or reduced EU customs duty rate from 1 January 2015. These countries have been determined to
See MoreEU: Tackling VAT fraud with Russia and Norway
It was reported on 15 December that, in efforts to continue to contain the spread of EU VAT fraud further afield, the European Commission will commence discussions early in 2014 on fiscal co-operation with Norway and Russia. The head of the EU’s
See MoreECJ: Advocate General decision on VAT exemption for management of special investment funds
The referring Court had asked for a preliminary ruling from the European Court of Justice (ECJ) in the case ATP Pension Service A/S v Skatteministeriet. This case concerned the application of VAT exemption in the case of the management of an
See MoreUnited Kingdom – Changes of tax refund-procedure not compatible with EU law
The Court of Justice for the European Union (CJEU) issued a judgment on 12 December 2013 concluding that EU law precludes UK measures effect of which is to deprive taxpayers and that happened without notice and retroactively. It was focused on
See MoreEU: Planning to change the intrastate reporting process
The European Commission is plans to changes the Intrastate reporting process which is the month to month reporting procedure for EU VAT registered businesses. This enables the countries to follow the movement of goods in the free trade
See MoreECJ: Interest payable where VAT credit incorrectly refused
Recently, the European Court of Justice (ECJ) has ruled that member states may not lawfully withhold interest due on VAT credits or refunds. The ECJ held that EU member states cannot block VAT interest and has ruled that tax authorities still have
See MoreBelgium: Royal Decree on tobacco tax rise
A draft Royal Decree, regarding tax rise on tobacco is approved by the Belgian Council of Ministers. As a result, the excise duty on cigarettes will be fixed at EUR 6.8914 (USD 9.2) per 1,000 pieces from 1 January 2014, and the special excise duty
See MoreBelgium: EC investigates R&D incentives, tax exemption
An “in-depth investigation” is launched which will determine whether Belgium’s implementation of a system of support for innovative companies i.e., research and development (R&D) incentives is consistent with the EU rules on state aid. It
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