Author: Michaela Merz

Netherlands – VAT treatment of Advance Therapy Medicinal Products

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The Dutch tax authorities informed HollandBio (the interest group of biotech companies in the Netherlands) about the Dutch VAT treatment of Advanced Therapy Medicinal Products (ATMPs), such as cell and gene therapy and tissue engineered products. According to the Dutch tax authorities, Advanced Therapy Medicinal Products (ATMPs) qualify as medicines, which means that these products are subject to the reduced Dutch VAT rate of 9%. This is in line with European regulations, where ATMPs are regarded as medical products.

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Italy – plastic packaging tax as per 1 of January 2021

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I would like to share with you further information regarding the plastic packaging tax to be introduced in Italy presumably in January 2022.

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Implenia AG: Fachspezialist Steuern in Opfikon

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Als führender Schweizer Bau- und Immobiliendienstleister entwickelt und realisiert Implenia Lebensräume, Arbeitswelten und Infrastruktur für künftige Generationen in der Schweiz und in Deutschland. Zudem plant und erstellt Implenia in Österreich, Frankreich, Schweden und Norwegen komplexe Infrastrukturprojekte. Eine rund 150-jährige Bautradition und das Know-how aus hochqualifizierten Beratungs-, Planungs- und Ausführungseinheiten machen Implenia zum integrierten, multinational führenden Bau- und Immobiliendienstleister.

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Italy – e-invoicing changes as per 1.1.2022

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Changes to the mandatory business-to-business (B2B) electronic invoicing (“e-invoicing”) rules for transactions carried out with foreign business partners (i.e., taxpayers that are not resident or established in Italy and that do not have an Italian VAT number) will be effective as from 1 January 2022. Thus, Esterometro will be abolished and, consequently, all cross-border invoices (export, import, intra-community, etc.) will have to be sent to SDI on a transactional basis (i.e. the scope of mandatory e-invoicing will be extended).

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Romania – new reporting obligation („SAF-T”).

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A new reporting obligation will be implemented in Romania as of 2022 (i.e. the Standard Audit File for Tax („SAF-T”)). The obligation will arise for large taxpayers as of January 2022. In this respect, taxpayers should have the ERP ready for the SAF-T reporting in terms of ensuring the existence of the mandatory elements to be reported on the format requested by the tax authority as well as insert the potential missing data.

For further information or in case of any questions please contact Andreea Dereli, andreea.d.dereli@pwc.ch.

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Great Britain – Plastic Packaging Tax (PPT)

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The plastic packaging tax (PPT) will come into effect in the UK on 1 April 2022. This means that for any business that imports into the UK, or manufactures in the UK, plastic packaging or products contained in plastic packaging will be liable to register for PPT and pay any tax due if they exceed the threshold of 10 tons of plastic packaging per annum.

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Webinar: How can ESG create value in the pharma industry?

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ESG stands for ‘environmental, social and governance’ – without a doubt a global mega trend, and even more so in the post Covid-19 world.

During this webinar, we will look at how a strong ESG proposition can create value. In particular, we will illustrate the value creation process by providing a framework tailored to the pharma value chain to describe the various options.

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Internationales Steuerseminar am 23. und 24. November 2021

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Ziel des diesjährigen Internationalen Steuerseminars ist es, die Teilnehmenden über die aktuellen Entwicklungen im internationalen Steuerrecht der Schweiz zu informieren und die für die Steuerplanung und Steuerpraxis bedeutsamen Elemente zu diskutieren.

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Japan – PwC Webcast on ‘Qualified Invoice Retention System’

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As previously reported, Japan will introduce a new qualified invoice regime for Japanese Consumption Tax (JCT) with effect from 1 October 2023. The new system will align the JCT regime more closely with European-style VAT regimes, and in order to claim input tax credit, the purchaser will be required to retain ‘qualified invoices’ issued by ‘qualified invoice issuers’. This change will greatly impact not only companies conducting their business physically within Japan, but also foreign companies providing digital services to customers in Japan.

Please see below for further details of the new system, along with a link to a short webcast which highlights some key points that taxpayers should be particularly mindful of. The webcast (available from 12 July 2021 to 11 July 2022) also identifies certain practical issues that may arise, and is a starting point for taxpayers looking to plan their transition to the new invoice system.

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10. Schweizer Zollrechtstagung 2021, Mittwoch, 22. September 2021 in Bern

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Über den Event

Die Regularien für internationale Lieferketten werden komplexer, neue Technologien entwickeln sich rasend schnell und treiben die Digitalisierung unbeirrt voran. Sie als Entscheidungsträger sind gefordert: Sie müssen diesem Wandel mit Weitblick begegnen, rechtskonform agieren und dabei Ihren Aufwand im Griff halten.

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