Not so long ago, when we talked about VAT or more generally on indirect taxes, the discussion was mostly focusing on Europe. The accelerating changes in other parts of the world necessitate to widen the geographical area where indirect taxes need to be tracked. Indirect tax people with a global responsibility within their organisation cannot neglect anymore territories, such as Latin-America or Africa. Read More »
Category: Tax Knowledge
Malaysia – GST 1 of January 2015
Please find attached a tentative draft GST Return and completion guidelines:
Switzerland – Turnover reconciliation
The aim of the turnover reconciliation is to reconcile a business’s annual revenue and input VAT as declared in the four quarterly VAT returns to the financial statements (P&L) of the same year.
Pursuant to article 72 of the new VAT Law there is a possibility (but also an obligation) to correct errors in the VAT declaration within 180 days of the end of a tax period. This “finalisation” gives the VAT payer the opportunityRead More »
Incoterms
Incoterms are international conditions of sale published by the International Chamber of Commerce (ICC) first published in 1936. They are periodically updated, with the eighth version— Incoterms® having been published on January 1, 2011. Their purpose is to provide “universal” rules to define the seller’s and buyer’s obligations during a commercial transaction and to reduce or eliminate uncertainties arising from different interpretation of the rules in different countries. Incoterms rules are intended to Read More »
Malaysia – Goods and Services Tax Bill 2014
Further to the Prime Minister’s announcement on 25 October 2013, the Goods and Services Tax Bill 2014 (“the 2014 Bill”) was tabled in Parliament on 31 March 2014.
This issue of TaXavvy will consider some of the key changes set out in the 2014 Bill compared to the Goods and Services Tax Bill 2009 (“the 2009 Bill”).
For further details please follow the links below:
India – Staying Updated
A Guide to VAT/GST/SUT in the Americas 2014
Where are you going to find whatever you wanted to know about Americas and Indirect Taxes?
I am happy to share with you a new version of our “A Guide to VAT/GST/SUT in the Americas 2014”.
Please click here for a PDF format: VAT GST SUT Guide of the Americas 2014
Strafbefreiende Selbstanzeige bei Steuerhinterziehung wird verschärft
Die Finanzminister der Länder haben sich am 27. März 2014 für die Beibehaltung der Strafbefreienden Selbstanzeige bei Steuerhinterziehungen ausgesprochen. Die Voraussetzungen, um die Straffreiheit zu erlangen sollen weiter verschärft werden. Rechtliche Details müssen noch geklärt werden.
Italy – Web Tax legislation as from 1 of July 2014
The Italian Parliament approved on December 23, 2013, the Finance Law for 2014 (so called “Legge di Stabilità” – no. 147/2013). Such a law has provided for the set up of the so called “web tax”.
At a first stage, the web tax should have been both for VAT and corporation income tax perspectives. The VAT aspects of the web tax has now been repealed (please see below). Read More »
Recovery of GST in New Zealand possible for non-resident businesses as from 1 April 2014
Currently, only non-residents who make taxable supplies in New Zealand are able to claim GST on their costs. As from 1 April 2014 non-residents who do not make taxable supplies in New Zealand will be able to register for GST under a special regime and to recover local GST.
In order to register under the new regime, the non-resident must:Read More »
Michaela Merz 