EU: 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 MoreOECD: comments published on artificial avoidance of PE
The OECD has published on its website the comments received following a request made in October 2013 on strategies that could result in the artificial avoidance of permanent establishment status. The request is part of the OECD’s work for the G20
See MoreWTO: Trade restrictions increased in 2013
The World Trade Organization (WTO) has reported that growth in world trade in 2013 was slower than expected in the year 2013. Growth in world merchandise trade was 2.5% in 2013 and will probably be 4.5% in 2014. The report mainly looked at G20
See MoreOECD: Comments published on digital economy taxation issues
The OECD has published on its website the comments received following a request made on 22 December 2013 on tax issues arising from the digital economy. Comments have been made from a wide range of accounting and law firms, and also by
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 MoreNetherlands: New decree on arm’s length principle published
The Netherlands State Secretary for Finance issued Decree No. IFZ 2013/184M on 26 November 2013 (Official Gazette No. 32854) which relates to the application of the arm’s length principle and the OECD Transfer Pricing Guidelines. The revised
See MoreKazakhstan – International Convention regarding tax issues signed
The Organization for Economic Co-operation and Development (OECD) has announced that Kazakhstan signed the international convention related to mutual administrative assistance in tax matters on December 23, 2013. According to the OECD release,
See MoreGST in Malaysia supported by the IMF
It was reported on 19 December 2013 that the International Monetary Fund’s (IMF) Mission Chief for Malaysia said at the conclusion of discussions for the 2013 Article IV Consultation that he welcomes the country’s decision to introduce a Goods
See MoreHong Kong: Exchange of information for tax purposes
Hong Kong is broadly compliant in its implementation of the international standards of transparency and exchange of information for tax purposes, a review of OECD’s global forum was announced at its meeting in Jakarta on November 2013. However,
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 MoreHungary Signs OECD Multilateral Tax Assistance Treaty
Hungary has become the 61st jurisdiction to sign the Organization for Economic Cooperation and Development’s multilateral treaty on multilateral tax assistance. This can be considered as a step of Hungary to its fight against cross-border tax
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
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