In the Japanese capital of Tokyo, 86 countries agreed to the new OECD VAT guidelines, which aim to provide practical solutions to tackle tax avoidance, mitigate the risk of double taxation, combat lost revenue and solve issues surrounding tax law mismatches.
Implementing a goods and services tax (GST) regime can be a lengthy and turbulent process. With Malaysia looking to establish its own regime, Lachlan Wolfers, Asia-Pacific regional leader for indirect taxes at KPMG, explores the common pitfalls and looks at the lessons Malaysia can take from similar experiences in other jurisdictions.
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.
Implementing a goods and services tax (GST) regime can be a lengthy and turbulent process. With Malaysia looking to establish its own regime, Lachlan Wolfers, Asia-Pacific regional leader for indirect taxes at KPMG, explores the common pitfalls and looks at the lessons Malaysia can take from similar experiences in other jurisdictions.
The case highlights the need for large corporations and those who advise them to exercise caution when seeking relief in objections and appeals filed with the Canadian Revenue Agency (CRA).
