China: VAT reforms for 2014 and 2015
Chinese VAT reforms went national in August 2013 in respect of transport and broadcast services. The first VAT reform pilot started in 2012 in Shanghai and was then rolled out to 11 other provinces. Some more services will become subject to VAT and
See MoreAustria – Legislates rapid reaction reverse charge on VAT fraud
Austria has the new mechanism to enable member states to change reporting and VAT obligations at short notice were brought into place. This instrument allows member states to gain consent from the European Commission within 30 days to apply the VAT
See MorePeru- Amendments to the VAT withdrawal system
The tax authority of Peru published Resolution No. 317-2013-SUNAT on 24 October 2013. The resolution amends the Resolutions No. 183-2004-SUNAT, 266-2004-SUNAT and 073-2006-SUNAT which regulates the withdrawal system of VAT. The new resolution has
See MoreOECD – Request for submissions on PE-status avoidance strategies (BEPS)
The organization for Economic Co-operation and Development (OECD) issued a request on 22 October 2013 for submissions of a “short description of strategies” that might be considered to result in the artificial avoidance of permanent
See MoreNew Zealand Tax Department Backs OECD BEPS Plan
New Zealand's Inland Revenue Department (IRD) has released a report that strongly endorses the measures drawn up by the Organization for Economic Cooperation and Development (OECD) for tackling base erosion and profit shifting. The OECD action plan
See MoreIndia: Vodafone case regarding transfer pricing
The Bombay high court directed the income-tax department to stop the proceedings of its dispute resolution panel (DRP) against the Indian subsidiaries of Vodafone Group Plc and Royal Dutch Shell plc in an alleged transfer pricing case till the court
See MoreEU: Standard VAT return proposed
The European Commission announced on 23 October a proposal for a standard value added tax (VAT) return. As indicated by the new rules, the VAT return would have a uniform set of prerequisites for businesses when documenting their VAT returns.
See MoreECJ: Advocate General opines on VAT exemption for transferable cards
A Court in the Netherlands had referred to the European Court of Justice (ECJ) the question of whether it was possible to exempt from VAT the issue and sale of transferable cards that can be used to pay for goods or services. The advocate general
See MoreSpain –Proposal to bring VAT provisions in line EU rules
Recently, Spain has suggested some changes to its VAT provisions so that they are more in line with those of the European Union. The changes are expected to be started during calendar year 2014 and included removing the special deadline for filing
See MoreSpain – Cash accounting to be introduced
Spain will introduce an optional VAT cash accounting scheme for businesses with turnover less than EUR 2 million effective from 1 January 2014. On 27 September 2013, the new Spanish cash accounting scheme was approved by Law 14/2013. The main
See MoreGermany: Additional administrative burden for VAT reporting for cross-border, intra-EU supplies
A new document has been introduced in Germany that increases the administrative burden with respect to intra-EU supplies (the cross-border transport of goods) within the European Union. Suppliers can apply a value added tax (VAT) rate of 0% for
See MoreEU: New incentive limits for all European Union (EU) member states
The European Commission (EC) wants a new incentive limits for all European Union (EU) member states from 1 July 2014. These limits exist to guarantee that no extreme unreasonable incentives are given by an EU member state to businesses. Incentives
See MoreOECD: Welcomes Japanese tax increase
Recently, the Secretary General of the Organization for Economic Cooperation and Development (OECD) has welcomed the announcement by Prime Minister on 7 October 2013 that, the nation will increase its consumption tax from its current 5% levy to 8%
See MoreOECD consults developing countries on base erosion and profit shifting
A meeting of more than 300 tax officials from the tax administrations of more than 100 countries and organizations was hosted by the OECD in Paris on 26 September 2013. The participants in the meeting discussed the ways in which developing
See MoreLuxembourg: A judgment of the ECJ regarding Principal establishments
A judgment of the EU Court of Justice concluded that a company having its principal establishment in an EU Member State may not take into account for reasons of calculating the deductible amount of VAT, the turnover of its foreign branches on 24
See MoreThailand raised alcohol excise taxes
In Thailand the excise taxes on liquor, beer and wine will increase by 7 -15% effective on 4 September 2013. The price will be higher particularly for
See MoreOECD: Engaging and involving SME taxpayers
The OECD recently published a paper entitled “Together for Better Outcomes” dealing with the issue of how to involve and engage small and medium enterprise (SME) taxpayers and other stakeholders in the tax compliance process. This study was
See MoreWTO, OECD and UNCTAD paper on Global Value Chains presented to G20
A joint report by the WTO, OECD and UNCTAD entitled “Implications of global value chains for trade, investment, development and jobs” dated 6 August 2013 was presented to the G20 meeting of September 2013. The report is a result of research into
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