Foreign companies or their branches in France registered for VAT purposes in France have to provide the French tax authorities with their electronic accounting file. Non-resident entities registered for French VAT as well as French branches of foreign companies are not required to keep their accounts in French GAP as long as they are able to provide the French tax authorities with a correlation table between their charts of accounts and the French GAP. Read More »
Category: Tax Knowledge
Czech Republic – How to fight against tax evasion
About 100 selected tax officers from various parts of the Czech Republic are coming these days to “help Prague” and to support inspections of taxpayers falling within the scope of Prague Tax Offices. Those authorities have been known for struggling with a lack of time and staff for carry out limited or full tax inspections on a regular basis. As one would expect, this inspired plenty of businesses who on purpose registered their seat in Prague, which further worsened the issue.Read More »
Poland – Bitcoin Mining subject to 23% VAT
Local Tax Authority in Lodz in Poland announced that the sale of mined bitcoins is subject to 23% VAT. The activity of mining is being seen as service by the local tax authority and for this service the place of service is where the customer is located. Therefore for local sales the VAT apply and has to be charged. For sales to foreign customers it is not needed to charge VAT. Read More »
Bitcoins and other virtual currencies
I am happy to share with you the attached documentations about Bitcoins either in German or English:
Referred links:
http://www.btc-echo.de/bitcoin-kurs/
http://coinmap.org/
http://ebiz.pwc.com/
Should you have any questions or need any advice in this regard please feel free to contact me.
Ecuador – introduction of Bitcoins as a legal tender
- Ecuador intends to introduce its own virtual currency which would be however acknowledged as a legal tender
- Since 2000 Ecuador’s legal tender is the US Dollar (the original legal currency – Sucre was abolished after hyperdevaluation)
- New law introducing the virtual currency as a legal tender was accepted by the Parliament and now needs solely the President’s signature in order to enter into force
For further details please contact: Carlos Erazo, carlos.erazo@ec.pwc.com
Portugal: Proposed VAT rate increase from 1 January 2015
Portugal considers increasing the standard VAT rate by 0.25%, to 23.25%.
The increase would result in the following standard VAT rate changes with regards to the three different regions: from 23% to 23.25% on the Portuguese mainland, from 22% to 22.25% in Madeira and from 18% to 18.25% in Azores.
For further information please feel free to contact:
Susana Claro
Partner
susana.claro@pt.pwc.com
Phone: +351 213 599 648
Susana Caetano
Senior Manager
susana.caetano@pt.pwc.com
Phone: +351 213599674
Taxation of the Digital Economy
I am pleased to share with you following interesting digital economy documentaions:
140606_China VAT and e-commerce
140825_Taxation of the digital economy
Please do not hesitate to contact me if you need further information.
Australia – tax guidance on bitcoin published on 20 August 2014
The Australian tax authority released a number of draft tax determinations and a guidance paper, in which it states that bitcoin and other cryptocurrencies are not money or foreign currency for taxation purposes. It is the view of the Australian Taxation Office that: Read More »
Czech – CZC first edition sold-out
The new Czech virtual currency, Czech Crown Coin (officially named by the authors “CZC”) was for the first time offered to public yesterday (Tuesday 19th August) at noon, within the press conference held by its founders. The interest of the public in purchasing the CZC was bigger than expected. Read More »
The first Czech virtual currency starts today!
Another virtual currency will be “borne” today (17 July 2014) at noon. A Czech Crown Coin (the abbreviation used by the authors is “CZC”) as it is called, will be established. The announced amount of coins is 100 million and the currency will be, similarly to other virtual currencies, mined. Read More »
Michaela Merz 