The 2020 Mexico Tax Reform modifies the Income Tax Law (MITL) and the Value Added Tax Law (VATL), impacting companies and users engaged in the Mexican digital market. While the new tax reform requirements become effective June 1, 2020, preparations for timely compliance need to begin immediately.
The Indian sentiments on growth mirroring the global pessimism and manifested through distress in the financial sector, lower GST collections and strain on the fiscal deficit was the backdrop in which the Finance Minister tabled the budget proposals for FY 2020-21.
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Incoterms are agreed standardized clauses which enable the contracting parties to clearly determine regulations on the place of performance, performance obligations and the transfer of risk. Read More »
There’s an important change in VAT which you should know about if you generate revenues in Poland: from 1 April 2020 a new, uniform control file called JPK_VAT will replace the currently existing form. This is a crucial step in the Polish Ministry of Finance’s plan to abolish the VAT declaration requirement in 2020. In a nutshell, the new file could mean that VAT returns are no longer needed.Read More »
The Executive Branch of Mexico’s federal government filed last September 8th, the 2020 Budget to the Congress. Among the relevant changes included in the Budget 2020 are those related to the Value Added Tax Law (VATL).
As of April 2020 (if approved) nonresident entities that provide digital services would be subject to 16% VAT rate if the recipient is located within Mexico, and the service is provided through applications or digital content, over the internet, and the process is primarily automatized. Such VAT will be determined upon the payment of the service rendered.Read More »
The Government adopted an amendment to the VAT Act, which provides for replacing the VAT declaration with SAF-T (i.e. JPK_VAT files).Read More »
Digitalization and the business models of “digital MNEs” present challenges for international taxation. At EU level, the proposed “Council Directive on the common system of a digital services tax on revenues resulting from the supply of certain digital services” has recently been rejected. On a global level, there are discussions on digital taxation within the G20/OECD with a view to developing digital PEs and a digital services tax. Nevertheless, some states have chosen not to wait for international solutions and have started to implement unilateral measures.Read More »
PwC Switzerland VAT
