By Matthew J. Parrilli, Mowery & Schoenfeld, LLC
The US can be a lucrative market for companies to generate new revenue, but with that new revenue come new tax requirements. The US and its states all have their own taxing jurisdictions. As a company looks to establish a presence in the country, it must consider the tax effects caused by its expansion. The US and its fifty states have both direct and indirect taxes that may apply to a company’s activity.
By Cécile Natali, FIDAG SARL
The EU’s e-commerce VAT package came into force on 01 July 2021. The new EU rules for cross-border sales of goods to individuals include, notably:
By Ingo Prang, KPP Steuerberatungsgesellschaft mbH
On 01 July 2021, the new EUwide distance selling regulations came into force, which primarily affect online traders who deliver to private customers.
By Brigitte Jakoby, Jakoby Dr Baumhof - Wirtschaftsprüfer Steuerberater Rechtsanwälte
In this case, Mitteldeutsche Hartstein-Industrie AG deals with the deduction of input VAT for construction work of public roads.
By Pasquale Della Corte, COMMA 10
The Belgium Supreme Court requested a preliminary ruling concerning the interpretation of Article 17(2) (a) of the Sixth Council Directive 77/388/EEC about a case related to the deductibility of VAT charged on the acquisition of estate agency, advertising and administrative services.
By Toon Hasselman, EJP Accountants & Adviseurs
In VAT land, we have weathered through some storms in the recent past to help non-EU established companies continue their business activities within the EU. We have been able to come up with numerous solutions depending on the specific needs of the business. These solutions ranged from a change in the supply chain, such as a Single Point of Entry with a Limited Fiscal Representative (“LFR”), to the incorporation of a Dutch entity.
By Paolo Motto, Three & Partners
From 01 January 2021, the UK is offcially out of the EU and significant adjustments are now required since the UK’s trading with Italy/EU now implies importing and exporting operations.
By Ineke C. J. M. Schellen, Baat accountants & adviseurs
The platform fiction was introduced effective 01 July 2021 and can be applicable for sales to end consumers in the EU through a platform like Amazon or Alibaba. When applicable, the platform – not the seller – must declare VAT on sales to end consumers in EU countries. Sellers using the platform only have to declare deemed sales to the platform on which no VAT is due (0%).
By Mohammed Aweidah, Al Zarooni Tureva, Auditors, Accountants, Advisors
The UAE introduced Value Added Tax (VAT), an indirect tax imposed on the purchase of goods and services, at a standard rate of 5%, effective 01 January 2018. Since then, companies have restructured their business models to include VAT in all of their operations. As a new income-generating factor for the UAE, VAT has helped in the development of the infrastructure and contributed to economic growth of the country.