This content is from: Brazil Brazil: Sao Paulo alters taxable basis of ICMS on software transactions The state of São Paulo will significantly increase ICMS taxation on software transactions by changing its taxable basis from January 1 2016. By ITR Correspondent November 24 2015
This content is from: New Zealand GST to be enforced on e-commerce in New Zealand New Zealand’s November Taxation Bill has introduced a draft law which will impose GST on digital goods and services from October 1 2016. By Amelia Schwanke & Joe Stanley-Smith November 20 2015
This content is from: Taiwan The battle over Taiwan’s capital gains levy ends 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. By Amelia Schwanke November 20 2015
This content is from: China China: Export services to be exempt from VAT 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. By Amelia Schwanke November 17 2015
This content is from: Bahrain IMF repeats GCC tax reform calls; VAT a case of ‘when’, not ‘if’ 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 lo... By Matthew Gilleard November 17 2015
This content is from: European Union €5,000 EU VAT threshold will be no use for businesses 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. By Joe Stanley-Smith November 12 2015
This content is from: Indirect Tax Fiji Budget 2016: VAT cut and administrative streamlining The Fijian government released its 2016 Budget on November 6, bringing good news for taxpayers in the form of a VAT cut. By Amelia Schwanke November 11 2015
This content is from: European Union European Commission to close VAT loophole 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. By Amelia Schwanke November 06 2015
This content is from: European Union Italy cancels 2016 VAT rise 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. By Joe Stanley-Smith November 05 2015
This content is from: Poland Poland contests VAT on e-books decision 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. By Amelia Schwanke November 04 2015
This content is from: United States Japan’s distance-selling VAT regime a mystery to foreign companies 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. By Joe Stanley-Smith November 02 2015
