The Malaysian Prime Minister has announced that GST will be implemented in Malaysia on 1 April 2015 at the rate of 6% in his budget speech. The threshold for mandatory registration will be RM 500,000.
Income Tax rate will be reduced between 1 % to 3 %, effective from assessment year 2015. Corporate Tax rate will be reduced by 1% from 25% to 24% (SME rate from 20% to 19%) effective from assessment year 2016.Read More »
A new standard VAT return, which can cut costs for EU businesses by up to €15 billion a year, has been proposed by the Commission on 23 October. The proposal still needs to be adopted by the Member States, and if everything goes well will go live on 1 January 2017.Read More »
The French tax authorities have reconfirmed in the recent Finance Bill that the VAT rate changes will take effect on 1 January 2014. The standard rate will increase from 19.6% to 20%. The intermediate rate will be increased from 7% to 10%. This rate will apply to various goods and services including restaurants and meals for immediate consumption, passenger transport, hotel accommodation, pharmaceutical products not reimbursed by social security and transfers of copyrights. Read More »
The European Court of Justice published its judgement in an infringement procedure where the EU Commission brought several EU Member States to the Court for failure to comply with their obligations under the EU VAT Directive.
The actions relate to the special scheme for travel agents which is commonly referred to as TOMS (Tour Operators Margin Scheme) and which is relevant from an EU-wide VAT perspective. There has been some uncertainty Read More »
On October 16, 2013 two laws will change. Cellular phones cannot be called from an auto dialing system without express written consent.
And EBR Exemptions for Robocalling residential landlines no longer apply. Even accidently breaking one of these rules – like calling a cell phone number without express written consent – Read More »
The VAT identification number in the European Union (EU) is:
On 17 September 2013, the German Federal Ministry of Finance (FMoF) published the administrative guidelines concerning the documentary evidence of intra-community supplies. These new guidelines confirm and officially determine the interpretation of the VAT law that will become applicable as from October 1, 2013.
Based on the published guidelines is he so called ‘Gelangensbestätigung’ the only accepted documentary evidence for all cases where the supplier or the recipient transports the goods with their own means of transport. However, if a carrier is transporting the goods on behalf of the supplier or his customers, even though the ‘Gelangensbestätigung’ will be the regular evidence, the taxpayer is allowed to prove that the goods have left the country by several other options, e.g. a fully completed freight document such as CMR (with signature of the supplier, the carrier and the recipient) or by a certificate issued by the transport agent.
In addition, the FMoF provides the taxpayers – together with the published document – with example forms of the ‘Gelangensbestätigung’ in German, English and French which can but do not have to be used. The guidelines also specify that under certain conditions ‘Gelangensbestätigungen’ can be obtained electronically but must not cover a period of more than 3 months.
For more details see
China is undergoing a Business Tax to Value Added Tax transformation (“B2V”) Pilot Program, with transportation and certain modern services becoming the first batch of pilot industries. Effective August 1, 2013, the B2V Pilot Program of transportation and certain modern services (including freight forwarding services) was expanded nation-wide. Under the B2V Pilot Program, the taxable service should be subject to VAT if either the service provider or the service recipient is within the territory of China.Read More »
Based on Royal Decree 1363/2010 which recently entered into force companies registered for VAT in Spain will be obliged to receive electronically notifications/communications issued by the Spanish Tax Authorities via a special and unique Electronic Address (hereinafter DEU) that will be granted by the Tax Administration to each company established or registered for VAT in Spain.Read More »
PwC is looking for a new International VAT Manager – further details you will find here
Are you a highly motivated, dynamic and client-oriented personality? Who likes to work in an international environment? Your well founded expert knowledge in the field of VAT and your convincing demeanor support you in being a competent contact person for demanding clients.
PwC Switzerland ITX
Michaela Merz 