Yesterday the governing coalition in Germany agreed to a reduction of the VAT rates in Germany from 01 July 2020 to 31 December 2020 as follows:
Germany – Reduction of VAT rate as from 1 July 2020 to 31 December 2020
Category: Tax Knowledge
Webinar – KSA increase in customs duty rates – What this means for your business
The Government of the Kingdom of Saudi Arabia (‘KSA’) has announced an increase in customs duty rates for an extensive range of goods, including foodstuff, mineral and chemical products, plastic, rubber, leather goods, textile and footwear, base metals (e.g. steel, iron, nickel, copper, aluminium), cement, ceramic, machinery, equipment and electrical equipment, toys, furniture, vehicles and various other manufactured goods.
France – 13th directive deadline extended to 30th September 2020
The French VAT Authorities (FTA) have agreed to extend France’s 13th directive deadline to 30th September 2020 (from the normal due date of June 30th).
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Invitation: Succeeding through uncertainty – COVID-19 emergency customs and international trade reliefs
Please join our customs and international trade event on 28 May 2020 at 2pm CEST:
What can businesses do during the COVID-19 crisis from a customs perspective to minimise supply chain disruption and what steps can they put in place to ensure Business As Usual post crisis?
Read More »UK – customs tariffs after Brexit as from 1 of January 2021
During the current Brexit transition period, goods can still be shipped tariff free and without import and export formalities from the EU mainland to the UK and vice versa. After the transition period, scheduled for 1 January 2021, EU – UK trade will be subject to import and export formalities and the UK will set its own customs tariffs. The UK has now announced what these tariffs will be.
Mexico: 2020 tax reform modifies the application of the tax law to digital commerce
In brief
The 2020 Mexico Tax Reform modifies the Income Tax Law (MITL) and the Value Added Tax Law (VATL), impacting companies and users engaged in the Mexican digital market. While the new tax reform requirements become effective June 1, 2020, preparations for timely compliance need to begin immediately.
India – Tax Podcast – COVID-19 update: Relief measures announced by Finance Minister to support Indian economy
COVID-19 update: Relief measures announced by Finance Minister to support Indian economy.
Welcome to this podcast on the relief measures announced by Finance Minister (FM) on 13 May 2020 to support Indian economy.
Schweiz – Einführung QR Rechnung per 30. Juni 2020
«Für den Schweizer Zahlungsverkehr beginnt eine neue Ära. Ab 30. Juni 2020 ersetzt die QR-Rechnung (Quick Response) mit Zahlteil und Empfangsschein die roten und orangefarbenen Einzahlungsscheine. Nicht nur alle Finanzinstitute, auch jedes Unternehmen muss seinen Verarbeitungsprozess anpassen, um einen reibungslosen Zahlungsverkehr zu gewährleisten.»
EU: fixed establishment -Dong Yang Electronics
CJEU’s decision on whether a subsidiary can constitute a fixed establishment for VAT purposes
The Court of Justice of the European Union issued on May 7, 2020 its long-awaited judgment in Dong Yang Electronics (Case C-547/18) which deals with the question on whether a subsidiary of a foreign-based parent entity can qualify as a fixed establishment for the acquisition of supplies (receiving “FE”).
KSA: VAT rate triples to 15% as from July 1, 2020
Saudi Arabia: Increase in VAT rate announced to address the Kingdom’s medium and long term fiscal position
The Government of the Kingdom of Saudi Arabia (‘KSA’) has announced several measures to counter the financial and economic impact of COVID-19 on the government budget. Such measures include a reduction in capital expenditures, discontinuation of the cost of living allowance and an increase in the VAT rate to 15%.
Michaela Merz 