By Toon Hasselman, LIMES International B.V.
When goods are imported into the Netherlands, VAT becomes due (21% or 6%). The following local B2B sale is subject to the reverse charge, and an intra-community sale or export is zero-rated.
By Aditya Kumar, Ashwani & Associates
The current indirect tax structure is the major impediment to India’s economic growth and competitiveness. Tax barriers in the form of CST, entry tax, and restricted input tax credit (credit) have fragmented the Indian market. Cascading effects of taxes on cost make indigenous manufacture less attractive. Complex multiple taxes also increase the cost of compliance.
By Graeme Saggers, Nolands SA
A recent amendment to the Value-added Tax (“VAT”) Act has meant that foreign suppliers of electronic services are likely to levy VAT at a rate of 14% on any supplies to South African residents.
By Helen E. Ijewere, Saffron Professional Services
Value-added Tax (VAT) is charged at 5% and is payable on the supply of all goods and services that are consumed within, and enter Nigeria, other than those goods and services listed as exempt in the First Schedule to the VAT Act.
By Pablo Garciga, Funaro & Co. PC
A major paradigm shift is on the horizon in determining sales tax nexus in the USA. Historically, physical presence has been required before a state has been permitted to impose its sales and use tax on transactions of out-of-state vendors. In an era when many states are insolvent, they have devised ways around this principle; the most recent of which is a direct attack opposing it.
By Marc Nideröst, LL.M., Treuhand- und Revisionsgesellschaft Mattig-Suter und Partner
VAT payers domiciled outside of Switzerland have to furnish a security according to the VAT liability of one year. In addition, they have to appoint a VAT representative domiciled in Switzerland.
By Stefano Loconte and Gabriella Antonaci, Loconte & Partners
The Circular No. 21/E of Italian Revenue Agency (hereinafter “the Circular”) clarifies, through a series of explanations, the reverse charge method introduced by Italian Legislative Decree No. 24 of 11 February 2016 entered into force on May 2nd 2016.
By Prof Stefano Loconte and Giusy Antonelli, Loconte & Partners
Recently the Advocate General of the ECJ expressed an opinion in case C-546/2014, Degano Trasporti, which was favourable to the extinguishment of debts arising from VAT in the case of composition with creditors.
By Steve McCrindle, Haines Watts
For many years, holding companies (HoldCo) enjoyed a degree of certainty in relation to their ability to recover VAT incurred as input tax, but there is a challenge to this position from certain EU tax authorities which is creating ambiguity. This is a current issue in the UK.
By Lisa Handfield, Moodys Gartner Tax Law LLP
The British Columbia Supreme Court, Yoshizawa, N. et al. vs. Beaton, recently heard a case relating to goods and services tax (GST), which is Canada's version of the VAT. As a rule, Canada imposes GST at a rate of 5 % to most goods and services sold/rendered within the country. However, there are exceptions including used residential property.
