Category: Tax Knowledge

Switzerland – file VAT returns electronically

Michaela Merz1 Comment

PwC_R_Vinesh.Naidoo_Yoginee.Sharma_Vernie.Slabert_SouthAfrica_Jhb_P_CW_0017.JPGSwiss VAT Authorities informed that a pilot project to electronically file the VAT returns will start next year.

Beginning from Q04/2014 every taxpayer in the respective cantons of “zone 1” (Basel, Solothurn, Thurgau and Uri) has the possibility to file the VAT returns electronically.

The taxpayer will be notified about this new possibility together with the VAT return of the 4th quarter 2014.

During the testing phase every participant still has the chance to file the VAT returns by regular mail.

HOW tax matters – tax influence on NHL

Michaela MerzLeave a comment

People walking in a park with trees PwC, Photo_RGB_PC_48164.jpgRecent study from Americans for Tax Reform and the Canadian Taxpayers Federation has found that, of the 123 Unrestricted Free Agents who changed their teams in the NHL during the 2014 off-season, 57% went to teams in states or provinces with lower taxes. CTF National Research Director Jeff Bowes said “The numbers don’t lie; NHL players take a financial hit to play in certain jurisdictions… the fact remains that disparities in tax rates leave some teams at a major disadvantage”. Read More »

CJEU is going to rule on the VAT treatment of bitcoins

Michaela Merz1 Comment

PwC_R_Madelein.Henning_SouthAfrica_Jhb_P_CW_0006.JPGOn 2 June 2014, the Supreme Administrative Court of Sweden submitted a request for a preliminary ruling to the Court of Justice of the European Union (“CJEU”) asking the CJEU to rule on whether the exchange of bitcoins for “fiat” currencies and vice versa is to be considered as a supply of service and if so, whether the exchange transactions of bitcoins fall within the scope of the exemptions for financial services.Read More »

Switzerland – new liabilities for foreign companies as from 1 January 2015

Michaela Merz1 Comment

Kappelbrücke_04.jpg Lucerne, Switzerland Corinne Kramer - PwC staff Bridge in Lucerne (Kappellbrücke) - PwCThe Federal Council defines new VAT liability for foreign companies carrying out construction work in Switzerland. The Federal Council approved two amendments to the Value Added Tax Ordinance, which are valid as from 1 January 2015. The aim of the new rule is to reduce the competitive disadvantages for domestic companies in comparison to foreign companies who are not obliged to register for VAT purposes.Read More »

Incompleteness of VIES – good to know

Michaela Merz1 Comment

People sitting on a long bench talking (3) - PwC, Photo_RGB_PC_48164.jpgVIES is an electronic tool for transmitting information relating to VAT registrations (= validity of VAT numbers) of companies registered in the EU. Furthermore, information relating to (tax exempt) intra-Community supplies between Member States’ administrations is also transmitted via VIES. For details see link below:Read More »

Crypto currencies – UK – Call for information

Michaela MerzLeave a comment

PwC_R_Jolene.Visser_SouthAfrica_Jhb_P_CW_0013.JPGBritain’s overall position on crypto currencies can be described as liberal and progressive. London is Europe’s biggest financial hub and the government has tried to stay ahead of the curve in terms of regulations and business-friendly policies. Chancellor George Osborne announced a new initiative to explore the potential role of crypto currencies in Britain’s economy and also commissioned a report on the risks and benefits of embracing crypto currencies in August this year: Read More »

Transparency and Exchange of Information for Tax Purposes – new developments

Michaela MerzLeave a comment

PwC_Swiz_Zurich_R_MB_39.jpgOn 29 October 2014, 51 jurisdictions signed a multilateral competent authority agreement to automatically exchange information based on Article 6 of the Multilateral Convention. The significance of this event was demonstrated by the participation of 39 ministers* in the signing ceremony, the largest gathering of ministers to take joint action to address tax evasion.Read More »

ECJ C -7/13 – Skandia – VAT liability regarding Head Office to branch supplies where the branch is a member of a VAT group – implementation in Ireland

Michaela Merz1 Comment

People walking in a plaza/square - PwC, Photo_RGB_C_2 44647.jpgIrish Revenue issued an E-Brief end of October confirming that they will commence a consultation process with industry and tax advisors regarding the recent Skandia case. The Revenue also confirmed that until such consultation process has been completed and new guidance is published, Irish taxpayers can continue to treat services on the basis of the existing practice.Read More »

Malaysia – what should you know prior the introduction of GST in 2015

Michaela MerzLeave a comment

I am more than happy to share with you some very good documentations showing the most important points you should be knowing about the introduction of GST in 2015:

PwC GettingStartedOnGST – Malaysia

Practical GST Solutions for growing businesses

Malaysian Tax and Business Booklet 2014-2015

For further information please contact:

Tony Chua, Senior Executive Director
E-mail: tony.chua@my.pwc.com
Tel.: 04 – 238 9118

Nur Diyana Binti Ahmad Fauzi, Senior Consultant
Email: nur.diyana.ahmad.fauzi@my.pwc.com
Tel.: 04 – 238 9230

Khor Ee Lin, Senior Consultant
Email: ee.lin.khor@my.pwc.com
Tel.: 04 – 238 9234

Kao Pei Ting, Managing Consultant
Email: pei.ting.kao@my.pwc.com
Tel.: 04 – 238 9233

Kang Gaik Hong, Senior Consultant
Email: gaik.hong.kang@my.pwc.com
Tel.: 04 – 238 9225

Czech Republic – expansion of local reverse charge mechanism as from 1 January 2015

Michaela Merz1 Comment

Photo_RGB_PC_48238.jpgPeople walking near parked cars on a street - PwCAmendment of the Czech VAT Act should be valid as from 1 January 2015.  The draft of the amendment is currently discussed in the second reading in The Chamber of Deputies. The list of the commodities that should be subject to local reverse charge will be governed by the governmental decree and is also currently under discussion.

Read More »