using advertises

Austria: Digital Services Tax

By Edith Huber-Wurzinger, Gaedke & Angeringer Steuerberatung GmbH

Austria presses ahead with a new tax on advertising service of internet giants after plans for an EU-wide levy fell. From the beginning of 2020, therefore, Austria will tax firms like Google, Amazon, Facebook, and Alibaba, 5% of their advertising revenue from within Austria.

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Brexit Demo

UK and Dutch Brexit Teams Preparing for Kick-Off

By Toon Hasselman, EJP Accountants & Adviseurs

Whilst writing this, it is 36 degrees outside, and inside, I just saw that Boris Johnson won the Conservative leadership contest and should become the UK’s new prime minister tomorrow (24 July 2019). Boris is a hard-line Brexiteer who has vowed to take the UK out of the EU by 31 October, with or without a deal and at any cost. However, the UK Parliament is not so sure it wishes to leave with the currently tabled deal nor without any deal, and the EU has indicated that it will not renegotiate the deal. With Boris as Prime Minister, a no-deal scenario has become more likely and it was exactly that scenario that first raised our (the Indirect Taxes PG) idea of forming Brexit teams per country. We have been pushing this idea for two years, and it is exactly where we stand and what we need right now.

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Merlion fountain, Singapore

AN OVERVIEW ON GOODS AND SERVICES TAX (“GST”) IN SINGAPORE

By Eddie Lee, Robert Yam & Co.

Generally, GST is levied at the current rate of 7% on the:

  • Local supply of goods and services in Singapore by any taxable persons in the course, or furtherance of a business; and
  • Import of goods into Singapore by any persons.

As a major source of governmental revenue, GST is the same as Value Added Tax in many other countries and is charged to buyers and end-consumers when goods and services are procured, used, or when goods are imported into Singapore. GST is collected at multiple levels from the purchases of materials, at every stage of production to the different stops of the distribution chains, until final consumption in Singapore.

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Robot assistant

VAT on Electronically Supplied Services in 2019

By Valeria Khmelevskaya, KBK Accounting

Along with the increase of the VAT rate from 18% up to 20%, the so called “Google tax” introduced previously as VAT on electronically- supplied services (“electronic services”) remains one of the hot topics in Russia. Starting from 2019, foreign entities rendering B2B electronic services to Russian clients are also obliged to register with the Russian tax authorities. Previously, this obligation existed for B2C service providers only.

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Australia beach

‘Netflix tax’ - new cross border rules in Australia

By Jonathan Ackerman, Kelly + Partners

Over the last couple of years, the Australian Federal Government has introduced a comprehensive regime to ensure that overseas suppliers apply Australian Goods and Services Tax (GST) to goods and digital products sold to Australian consumers and to online bookings for Australian hotels.

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Malakka, Malaysia

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.

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