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Indirect Tax

Indirect Tax archive
  • Brazil: Sao Paulo alters taxable basis of ICMS on software transactions

    November 24, 2015

    The state of São Paulo will significantly increase ICMS taxation on software transactions by changing its taxable basis from January 1 2016.

  • GST to be enforced on e-commerce in New Zealand

    November 20, 2015

    New Zealand’s November Taxation Bill has introduced a draft law which will impose GST on digital goods and services from October 1 2016.

  • The battle over Taiwan’s capital gains levy ends

    November 20, 2015

    The legislative Yuan (parliamentary branch of government) in Taiwan has passed an amendment to abolish the yet-to-be-implemented capital gains tax on stock investments.

  • China: Export services to be exempt from VAT

    November 17, 2015

    The Chinese Ministry of Finance (MOF) and the State Administration of Taxation (SAT) have jointly released a new Bill, Circular Caishui Notice 118, which covers the application of the zero VAT policy to services.

  • IMF repeats GCC tax reform calls; VAT a case of ‘when’, not ‘if’

    November 17, 2015

    Christine Lagarde, managing director of the IMF, has repeated her recommendation for GCC countries to use fiscal adjustment to counter the impact of oil price volatility. The implementation of VAT in the region now looks inevitable.

  • €5,000 EU VAT threshold will be no use for businesses

    November 12, 2015

    A €5,000 ($5,360) threshold will be of little or no help for businesses struggling with the European Union’s (EU’s) distance selling VAT regime for e-services, according to campaigners.

  • Fiji Budget 2016: VAT cut and administrative streamlining

    November 11, 2015

    The Fijian government released its 2016 Budget on November 6, bringing good news for taxpayers in the form of a VAT cut.

  • European Commission to close VAT loophole

    November 06, 2015

    The European Commission is reviewing the low value consignment relief (LVCR) VAT loophole, which is said to have cost the European Union (EU) more than €500 million ($538 million) since 1999.

  • Italy cancels 2016 VAT rise

    November 05, 2015

    The Italian Parliament has announced an expansionary Budget which will freeze the headline VAT rate at 22%, rather than allowing it to rise to 24% as planned.

  • Poland contests VAT on e-books decision

    November 04, 2015

    Poland’s Constitutional Court has challenged a European Court of Justice (ECJ) ruling that VAT on e-books must be charged at the standard rate.

  • Japan’s distance-selling VAT regime a mystery to foreign companies

    November 02, 2015

    One month after Japan introduced its distance-selling VAT regime, foreign companies are struggling to determine whether or not the new rules apply to services they provide.

  • Mind your own business: The importance of knowing what we really do

    October 29, 2015

    Steven Ouwerkerk, global head of tax at APM Terminals, argues that to deal with the corporate challenges of operating in an increasingly borderless world, multinationals must learn to operate in a department-less manner, sharing experiences across functions and understanding issues from a variety of perspectives. He also brings a new meaning to the phrase ‘mind your own business’.

  • Kenya to reinstate VAT on oil products

    October 29, 2015

    The Kenyan government wants to raise more revenue by reinstating VAT on all oil products, but the proposal would cause a fuel price rise and could reduce the attractiveness of the country as an investment location.

  • Hungary’s VAT grouping rules affected by Skandia ruling

    October 29, 2015

    Companies in certain types of VAT groups in Hungary will have to pay higher VAT bills as a result of the European Court of Justice (ECJ) Skandia ruling, and could also face intensified VAT audits, as the country has finally started to implement the ruling.

  • European Court of Justice exempts bitcoin trading from VAT

    October 22, 2015

    The European Court of Justice (ECJ) has ruled that bitcoin trading services should be exempted from VAT entirely, effectively classifying the cryptocurrency as money.

  • Eight out of ten businesses still using spreadsheets for VAT compliance

    October 14, 2015

    More than 80% of businesses are still using spreadsheets to manage their VAT compliance in at least one jurisdiction in which they operate, despite tax authorities around the world investing in better tools.

  • Cyprus: Recovering from the banking crisis and using political capital in shipping

    October 09, 2015

    Cyprus is one of Europe’s premier business locations with low, stable rates and favourable incentives offered to businesses. Recent tax developments have only served to make it more attractive.

  • Mexico announces new tax benefits for the energy and infrastructure sectors

    October 07, 2015

    The executive branch of the Mexican government has submitted a tax reform proposal to Congress as part of the economic package prepared for 2016. The proposal honours the promise of the executive branch to not increase taxes during the rest of its term, and includes certain benefits, although it does increase the compliance burden for Mexican companies and, notably, includes country-by-country reporting (CbCR) obligations for Mexican entities in line with BEPS.

  • The end of the (tax) world as we know it? OECD delivers final BEPS recommendations

    October 05, 2015

    The OECD today delivered the second part of its recommendations to reform international tax rules by tackling base erosion and profit shifting (BEPS). While unanimity across all points discussed was impossible, a higher level of agreement - either in the form of consensus or agreement on 'minimum standards' - has been achieved than many expected, though this has not stopped non-governmental organisations (NGOs) from criticising the package as "a sticking-plaster approach".

  • The end of the beginning? Pascal Saint-Amans and Raffaele Russo discuss part 2 of BEPS proposals

    October 05, 2015

    Pascal Saint-Amans, Raffaele Russo and their tax colleagues at the OECD are happy people after the publication of the second and final set of proposals to tackle base erosion and profit shifting (BEPS), following two years of intensive talks.

  • Americas Tax Awards 2015

    September 29, 2015

    Top honours at this year's Americas Tax Awards went to Deloitte, Baker & McKenzie and Skadden Arps Slate Meagher & Flom.

  • DSM to be enhanced during destination principle expansion

    September 29, 2015

    Key figures at the European Commission have outlined the importance of the digital single market (DSM) as they prepare to extend the destination principle and mini one-stop shop (MOSS). Joe Stanley-Smith investigates.

  • New VAT split for interstate transactions in Brazil

    September 29, 2015

    In April 2015 Constitutional Amendment No 87/2015 (the Amendment) was introduced, providing a new taxation regime for state-level VAT on interstate sales performed remotely. This week, part of the expected regulation was enacted.

  • UK opposition party proposes broad tax review and opens door to FTT

    September 28, 2015

    The UK’s opposition party, Labour, has set out its stall on tax by calling for more effective taxation of multinationals such as Google and Vodafone and a review of revenue authority HMRC.

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