Taxation
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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Taxation
By Dean Jefferies, Haines Watts
The draft legislation recently issued by HMRC, in anticipation of a nodeal Brexit, focuses on measures to reduce friction when clearing goods that enter the UK (or enter another EU member state from the UK).
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Taxation
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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Taxation
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.
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Taxation
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The existing multi-stage, broadbased goods and service tax (GST) regime which was implemented on 1 May 2015 has been repealed by the new Malaysian Government and replaced by a single-stage sales tax and service tax (collectively, ‘SST’).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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Taxation
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.
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Taxation
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.
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Taxation
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.
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Taxation
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.
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Taxation
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.
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