The UAE Minister of State for Financial Affairs, His Excellency Obaid Humaid Al Tayer, has stated that the UAE will implement VAT at the rate of 5% on 1 January 2018.
VAT is expected to be introduced at a rate of 5% with some limited exceptions including basic food items, healthcare and education. Read More »
In brief
According to a recent judgement from Polish Supreme Administrative Court (NSA) dated 15 February 2017, the term “permanent place of business” has been defined, on the example of toll manufacturing arrangement between Polish and Swiss companies, together with the VAT taxation obligations.
The Swiss company requested interpretation, regarding the transactions` treatment of tax on goods and services. Read More »
In brief
In his first address to a joint session of Congress, President Donald Trump called for action on tax reform to “restart the engine of the American economy – making it easier for companies to do business in the United States and much harder for companies to leave.” While offering few details, President Trump said that his economic team is “developing historic tax reform that will reduce the tax rate on our companies so that they can compete and thrive anywhere and with anyone.” Read More »
Eleventh meeting of GST Council – GST Council clears CGST and IGST law
In a constructive meeting of the GST Council, various important aspects have been finalised. The CGST and IGST laws have been formally approved by the GST Council.Read More »
At the end of 2016 the Serbian Parliament adopted important changes to the VAT law. As of 1 January 2017 foreign e-service suppliers are obliged to register for VAT in Serbia if they provide services for non-taxpayers.
Additionally, as of 1 April 2017 the general place of supply rules for services will be changed. Read More »
When I was a young child, I was fascinated by a Bagatelle board. Firing small metal balls to the top of a ramp, I could watch them fall, bouncing of metal pins, to ultimately end up in a number of different scoring zones. Now, many years on, I like to think about Machine Learning in a similar way. The scoring zones are the outputs of the Machine, the place you drop the ball, and the nature of the ball, represent the different inputs, and the ‘randomly arranged’ pins which deflect the balls on their journey to the scoring zone are the inner workings of Machine Learning. Read More »
Federal Fiscal Court rejects tax authority opinion about VAT treatment of call-off stocks
In Brief
Many subcontractors – particularly those in the automotive industry – supply their goods and materials by means of so-called call-off stock. If the stock is supplied from another EU member state, the German tax authorities generally treat the corresponding movement of the goods as intra-Community transfer followed by a domestic supply of goods. Read More »
Jedes Unternehmen ist für die korrekte Abrechnung der Mehrwertsteuer verantwortlich. Ob und wie intensiv die Unternehmen geprüft werden, hängt vom Vertrauen der Steuerverwaltung in die Wirtschaft im Allgemeinen und in die Firmen im Besonderen ab. Eine effiziente und korrekte MWST-Compliance stärkt das Vertrauen und spart Geld, schafft Effektivität und Ressourceneffizienz, optimiert den Cashflow und vermeidet teure Strafrisiken.Read More »
Introduction of the so called “European VAT group”
The Budget Law 2017 has introduced, in the Presidential Decree no. 633/1972, the new title V-bis which regulates the institute of the VAT group, effective from January 1, 2018, subject to prior consultation of the European VAT committee.Read More »
Below you will find the publication from our colleagues from PwC Spain regarding the upcoming real time reporting requirements of certain VAT related information to the Spanish tax authorities. The new requirement is effective as of 1 July 2017.
If you have any questions in that regard, please do not hesitate to contact Jesus Diaz De Teran Lopez, Senior Manager PwC Spain on +34 915 684 400 or jesus.diaz_de_teran.lopez@es.pwc.com.Read More »
PwC Switzerland ITX
Michaela Merz 