Proportional crediting of VAT amount in Georgia
By Giorgi Kutchashvili, TMC LLC
According to Georgian Tax Law, distribution of goods is one of the taxable transactions for VAT purposes. However, there are some industries that are exempt.
The Reintroduction of the Sales and Service Tax
By KC Chia, KC Chia & Noor
‘…to hope, till Hope creates from its own wreck the thing it contemplates...’ (Percy Bysshe Shelley from ‘Prometheus Unbound’)
The existing multi-stage, broadbased goods and service tax (GST) regime which was implemented on 1 May 2015 has been repealed by the new Malaysian Government and replaced by a single-stage sales tax and service tax (collectively, ‘SST’). The new acts were gazetted and slated to be enforced on 1 September 2018. This dynamic turn has served as a timely wake-up call for all businesses to review their business operations.
Italian Split Payment Mechanism: An Increase of VAT Credit Positions
By Francesco Milano, COMMA 10
From 1 July 2017 the Italian Split Payment Mechanism, whereby VAT charged on VAT invoices issued to a public administration is paid directly to the tax offce by the public adminis- tration receiving the invoice, has been extended to other transactions.
South African VAT Consequences on Foreign Rebates
By Graeme Saggers and Simphiwe Mili, Nolands
The VAT consequences on rebates received from international companies is an issue not often considered. Very little legislation and case law exists governing the treatment of rebates received from international entities. Currently only binding general rulings provide for the treatment of local rebates in the Fast Moving Consumable Goods and the Motor industries.
Non-Resident Taxable Person under GST
By Aditya Kumar, Ashwani & Associates, Chartered Accountants
With the introduction of GST in India, it is important for foreign corporations to understand the concept of non-resident taxable person (‘NRTP’). The concept introduced under the GST laws has led to raised eyebrows by the foreign companies doing, or intending to do, business with India.
VAT Switzerland – Calculation of Security for Foreign Companies
By Marc Nideröst, Treuhand- und Revisionsgesellschaft Mattig-Suter & Partner
As of 1 August 2017, the security for a taxable person not resident or domiciled in Switzerland are calculated differently.
The German View on Cross-Border Tax Audits
By Brigitte Jakoby, Jakoby Dr. Baumhof - Wirtschaftsprüfer Steuerberater Rechtsanwälte
Since the introduction of the Mini One Stop Shop (“MOSS”) within the EU, cross-border tax audits have been an important, but still unresolved issue. EU Member States have not yet been able to agree on harmonised rules for conducting cross-border tax audits. A leaflet published by the German Ministry of Finance on cross-border tax audits now seeks to answer some of these issues/ questions. The leaflet deals with the purpose of cross-border audits.
Amnesty: US Multistate Tax Commission Offers Remote Sellers an Opportunity
By Pablo Garciga, Funaro & Co. PC
Owning property in a state generally establishes tax nexus. This is true even if a Treaty between the US and a foreign country creates the legal fiction that the limited activities of the foreign vendor are not deemed to create a Permanent Establishment in the US for federal income tax purposes. Since the number of online vendors have increased, the situation often arises whereby an outof- state vendor owns inventory held by an online marketer (e.g. Amazon) at the marketer’s warehouse. This situation has the potential of creating nexus for the out-of-state vendor in many states.
VAT in Brief – Imports in Belgium
By Filip Camps, ACCO Accountants
Ostensibly, whenever a company is importing goods into Belgium, the goods will be subject to a Belgian import VAT charge at the point of entrance of the goods in Belgium (however, see ET 14.000 below).
§ 2 b German VAT Act: Significant adjustment effort for corporations under public law
By Brigitte Jakoby, Jakoby Dr. Baumhof Wirtschaftsprüfer Steuerberater Rechtsanwälte
The VAT taxation of public authorities has been reformed by deleting § 2 para. 3 UStG (German VAT Act) and creating the new rule § 2 b UStG. With this change, public authorities are facing a major turning point.
More Articles ...
- What is VAT MOSS?
- VAT in Brief – Imports UK
- Were the impacts of the VAT recapitulative statement in the Czech Republic positive?
- GST and its implication for the Indian economy
- VAT effects of supplying electronic services in South Africa
- Value-added tax on imported services (Part 1)
- U.S. State Taxation: Is the Repeal of Quill’s Physical Presence Principle Unavoidable?
- VAT representation in Switzerland
- The Italian Revenue Agency explains reverse charge method applied to sales of game consoles, PCs, tablets and laptops
- VAT debt in case of arrangement with creditors: new perspectives of the ECJ
- Refund of input VAT in danger for holding companies?
- Streamlining the VAT registration process
- Negative consequences of using the wrong VAT ID
- Belgium: new and simplified rules for VAT “self-billing”
- Austria: VAT on real estate
- German VAT groups: detailed specification of organisational integration
- The VAT cash accounting system in Romania
- The hidden VAT – Why Europe escapes from a benefit
- Amendment to the Slovak VAT Act has introduced joint liability for Slovak VAT
- Lawrence Grant Recovers GBP 50k from French VAT Authorities
- EU member states to receive new weapon against VAT fraud
- VAT Rates in Europe
- VAT and E-Commerce
- EU VAT Legislation Update
- EU Decides on VAT Concessions
- Additional Signature for Goods from Germany
