With the release of the OECD’s final package of recommendations to tackle base erosion and profit shifting (BEPS) and the endorsement of the recommendations by the G20 Finance Ministers, the spot light will now be on the manner in which tax authorities take up and implement the relevant recommendations.Read More »
Category: Tax Knowledge
Russia – VAT treatment of agent’s finder’s fee
The Russian Ministry of Finance issued Letter No. 03-07-08/62571 confirming that the VAT treatment of client search services rendered by a Russian supplier to a non-resident company under an agency agreement is considered to have the place of supply where the service has been provided (Russia), and should be therefore subject to Russian VAT.Read More »
How to improve VAT revenue collection?
Based on figures recently published by the European Commission, VAT revenue collection for 2013 has failed to show significant improvement.
During 2013, the overall VAT Total Tax Liability for the EU-26 Member States grew by about 1.2 %, while collected VAT revenues rose by 1.1 %. As a result, the overall VAT Gap in the EU-26 increased by 2.8 billion Euro and reached a total of 168 billion Euro. Read More »
Schweiz, Zürich – § 30 StG – Steuerliche Behandlung von Negativzinsen auf Einlagen bei Banken und Sparkassen
In der Zeit der “Nullzinsen” habe ich mir die Frage gestellt, wie Negativzinsen steuerlich behandelt werden. Für alle die sich die gleiche Frage gestellt haben, nachfolgend die Antwort dazu:
Negativzinsen, die auf Einlagen bei Banken oder Sparkassen anfallen, stellen im Privatvermögen abzugsfähige Vermögensverwaltungskosten dar. Negativzinsen qualifizieren nicht als Schuldzinsen, da sie auf Guthaben und nicht auf Schulden erhoben werden.Read More »
Switzerland – The 2015 work permit quota Levels have been re-confirmed for 2016
The Swiss Government has decided to keep the quota Levels unchanged for 2016, although the numbers are significantly lower than in 2014.
For more Information please read HERE or contact my colleagues:
Mirela Stoia Martin Zeier
mirela.stoia@ch.pwc.com martin.zeier@ch.pwc.com
+41 58 792 91 16 +41 58 792 52 74
New Zealand – Tax Bill proposes GST registration for foreign B2C e-service providers as of 1 October 2016
Further to my previous post the New Zealand Government submitted its legislative proposal in relation to the GST law reform on offshore online purchases of services.
The Government has followed the modern VAT/GST practices and OECD recommendations and has decided to reform the GST system. The reforms focus on two main Areas:
1. Digital products and cross border services, in respect of which draft legislation proposes imposing GST on digital products and other Services purchased by New Zealand private consumers from offshore sellers. The new rules will apply from 1 October 2016.Read More »
Brasil – IPI on resale of imported products
As a general rule, IPI, Brazilian equivalent of Excise Tax, is imposed on imports of goods. Importers of records similar to producers are required to collect IPI on resale of imported products.
This taxation of resale of imported products for IPI purposes became a controversial matter in Brazil, as many companies started to litigate, arguing that IPI should not be imposed on such resale Transactions.Read More »
Hungary – Data export requirements effective as from 1 of January 2016
As of 1 January 2016 in accordance with a new regulation (Decree of the Ministry for National Economy No. 23/2014, the „Invoicing Decree”) invoicing software must include a new function called “data export for tax authority review” (adóhatósági ellenőrzési adatszolgáltatás) and must be able to extract invoicing data either for a certain invoice (number) range or for a certain period. Read More »
CJEU ruled Bitcoin exchange services to be VAT exempt
The CJEU has delivered today its judgment in the long-awaited case on whether Bitcoin exchange services are considered to be VAT exempt services. The court has followed the earlier opinion of the Advocate Generale and confirmed that the exchange of Bitcoins into conventional currencies and vice versa in return for a exchange commission falls within the VAT exemption for transactions concerning currency, bank notes and coins used as legal tender provided by the European VAT Directive. Read More »
Romania – The New Fiscal Code – provisions entering into force as of 1 January 2016
I would like to inform you about the new amendments to the Romanian VAT legislation, which will enter into force as of 1 January 2016.
Please be informed that the most important change is the decrease of the standard VAT rate from 24% to 20% starting with 1 January 2016, and from 20% to 19% as of 1 January 2017. In addition to the above, please find below a selection of other VAT provisions entering into force starting with 1 January 2016 which may also be of interest:Read More »
Michaela Merz 