The business community has welcomed new prime minister Narendra Modi’s rise to power, and now the Confederation of Indian Industry (CII) is hoping his government will increase efforts to establish a goods and services tax (GST) to improve investor sentiment and help put the Indian economy back on track.
The limitation-of-benefit clause in the India-Singapore treaty, offers greater clarity and comfort for investors residing in the country, helping to make Singapore India's top source of foreign direct investment.
The new OECD VAT guidelines were signed by 86 countries, in Tokyo, Japan, in April. Chris Needham, global VAT/GST director for General Electric offers his views on what the guidance means for taxpayers.
China Mobile, China Telecom and China Unicom say the VAT reform will bring short-term troubles but long-term benefits Chinese telecom carriers will be included in the VAT pilot programme from June.
Mateusz Szczurek, Poland's finance minister, has announced the government's intention to lower the VAT rate from 23% to 22% by 2016, a year earlier than originally planned.
