EU: European Commission proposes stronger cooperation on VAT
Recently, the European Commission began consultations with Russia and Norway on administrative cooperation agreements in the area of Value Added Tax (VAT). The aim of the agreements is "to establish a framework of mutual assistance in combatting
See MoreArgentina reduces Tobacco Tax rate for the year 2014
Under Decree No 111/2014 of January 29, 2014, Argentina is keeping cigarillo excise duties at 7 percent, instead of the usual 21 percent rate. The reduced rate is applicable with retroactive effect from January 1, 2014, and is scheduled to expire on
See MoreGermany and EU Redesigning Energy Tax Rebate
The Federation of German Industry has said a quick resolution is expected in talks between Germany and the European Union concerning Germany's renewable energy tax rebate on offer to energy-intensive companies in Germany. The Commission is
See MorePhilippines Business Requests Elimination of Aviation Fuel Tax
The Joint Foreign Chambers of the Philippines (JFC) have requested that the Government cuts the excise tax on aviation fuel for international carriers, after a Supreme Court (SC) decision to cancel refunds had effectively imposed higher taxation. In
See MoreECJ: Deduction of input VAT on pension fund management costs
In a Revenue and Customs Brief HMRC has set out its position on VAT on pension fund management costs. This follows decision of the European Court of Justice (ECJ) in the case of Fiscale Eenheid PPG Holdings BV regarding an employer's entitlement to
See MoreRomania: Foreign energy traders are now permitted to reclaim input VAT
The European Court of Justice has ruled that foreign energy traders in Romania are now permitted to reclaim input VAT incurred through the EU’s 8th Directive. This follows Romania’s withdrawal of the requirement for VAT registrations on
See MoreEuropean 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
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