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Category: Tax Knowledge
EU – interim tax of 3% on certain “digital” revenue planned
EU commission presented today new proposal how the income from digital activity should be taxed fairly.
“The tax will apply to revenues created from activities where users play a major role in value creation and which are the hardest to capture with current tax rules, such as those revenues:Read More »
United States of America – Steel and aluminum tariffs due 23 March
As anticipated, President Trump has signed proclamations imposing tariffs on imports of steel and aluminum that are set to take effect from 23 March 2018. The tariffs apply across the board, although there is an indefinite exemption for Canada and Mexico due to their ‘shared commitment’ to each other’s national security, efforts to address ‘excess’ steel capacity, and the economic integration between the three countries. Read More »
United Arab Emirates – Tax authority publishes general guide to VAT
India: Government issues clarifications to further ease the procedure for filing and sanction of export refunds
Based on representations and to ensure uniformity in the implementation of the refund provisions relating to export of goods and services, the Central Board of Excise and Customs (Board) has issued Circular No. 37/11/2018 – GST dated March 15, 2018 to clarify various aspects relating to processing and sanction of refund claims. Read More »
OECD – Tax Challenges Arising from Digitalisation – Interim Report 2018
Implementation of the Measures on VAT/GST covered by the 2015 BEPS Action 1 Report – what to know about VAT and digitalisation:
Please click HERE to see the full Report.Read More »
India – SC holds that no service tax is payable on reimbursable expenditure or cost incurred by the service provider before 14 May, 2015
Background
Section 67 of the Finance Act, 1994 (the FA, 1994) deals with the valuation of taxable services for the purpose of levy of service tax. Further, the Service Tax (Determination of Value) Rules, 2006 (the Rules) were also issued, to specify inclusion or exclusion of various amounts in the value of taxable services. Read More »
UK – Making tax digital as from 1 of April 2019 – The end of TAX Return
HMRC starting to transform the tax system, so that it is more effective, more efficient and easier for taxpayers as well as for the controls done by HMRC themselves.
VAT has been online since 2010 and over 98% of VAT registered businesses already file electronic returns. Read More »
India – 200 days of GST – The Road Ahead
India successfully implemented its most ambitious tax reform on 1st July 2017. The transition to the new regime has been relatively smooth except for the technology related challenges for GST compliances. The Government of India (‘GOI’) has also been quick in taking remedial action such as simplifying the GST compliances, reduction in GST rates and enforcing the anti-profiteering provisions. Read More »
India – GST Council temporarily extends the present system of filing of returns and export benefits for procurement of goods and recommends implementation of e-way bill scheme in a phased manner from 01 April 2018
Introduction
In its 26th meeting held on 10 March 2018, the GST Council has decided to extend the present system of compliance for taxpayers for another 3 months up to June 2018, and the export benefits for procurement of goods for another 6 months up to 01 October 2018. Read More »
Michaela Merz 