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.
Tag: China
VAT reform in China influencing EBITDA of the Chinese telecoms operators as from 1 of June 2014
For basic telecom services such as fixed network telephone services, mobile services and voice-over internet protocol services (VOIP) and value added services such as providers of online data processing (online banking, auctions, payment processing), data storage services, internet information services, data hosting, internet access services and call centres the VAT rate of 11% and 6% respectively replaced the 3% business tax as from 1 of June 2014. The telecommunication sector is heavily regulated in China.Read More »
Free Trade Agreement between China and Switzerland as from 1 of July 2014
The bilateral Free Trade Agreement concluded in 2013 between China and Switzerland comes into force on 1 July 2014. Switzerland will abolish all customs duties on imports of Chinese industrial goods. China is abolishing or reducing the large majority of its customs duties on imported Swiss industrial goods, in whole or in part, Read More »
Fundamental VAT changes to electronically supplied services
Making sure your business is ready
Live webcast 19 September 2013: live at 11am (GMT)
Do you sell services to consumers? Are they electronically supplied? Are your customers in the EU? Are you ready for the B2C 2015 VAT changes?
There are significant changes on the horizon for the VAT paid on electronically supplied services. Any business headquartered in any country selling broadcasting, telecommunications and electronically supplied services to EU retail customers will be affected by these changes. This includes businesses in the US, China and Australia.
The new legislation is effective from 1 January 2015. It will have the effect of changing the place of supply, and the country of taxation, of business to consumer (B2C) telecoms, broadcasting and ‘electronically supplied services’ from the country in which the supplier is established to the country in which the consumer is resident. One effect of this is that, rather than applying a single VAT rate in its country of establishment, affected businesses may be required to apply the local VAT rate in 27 different member states.
Getting your business ready
You’ll need to recognise that 2015 isn’t that far away. Planning ahead will be vital if your business is going to deal with the issues raised by these VAT changes. So, what are the main questions you should be asking?
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The legislation is expected to be finalised very soon – is your business ready?
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Have you developed a plan to cope with these changes?
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What services might be in scope?
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Who needs to know?
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What deadlines will need to be met?
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How will the switch-over be dealt with?
We’re running a webcast on 19 September 2013, that looks at these questions in detail. You can join our panel of indirect tax specialists who’ll discuss the issues you’ll be facing in the lead up to the 2015 changes. You’ll also have the opportunity to ask the panel questions over our live feed to the studio.
Webcast details and how to attend
We’ll be live from 11am (GMT) 19 September 2013.
The webcast will last approximately 30 minutes and you’ll have the opportunity to put your questions to our specialists during the webcast.
Speakers: Martin Blanche, PwC UK, Sophie Claessens, PwC Belgium, Joanna Denton, PwC Luxembourg, and Tom Corbett, PwC Ireland
To view the webcast, please click on the link below from 10.55:
Link to the webcast
There’s no charge to attend this webcast. No continuing professional education (CPE) credit is provided for this webcast. For more information about this webcast please contact Christine O’Malley christine.omalley@uk.pwc.com.
China – transportation services – new rules as from August 1, 2013
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 »
Shanghai – Oriental Pearl TV Tower and one child policy
Exactly on the last day of my stay in Shanghai the “space capsule“ on the highest floor of the Oriental Pearl TV Tower reopened after 3 million renovation works. It’s true that the entry ticket is quite expensive. But what are 220 Yuan (around 35 US Dollars) compared to the panoramic view from the three observatory decks at 339 meters! That would have been true if there were no pollution. The view outside was disappointing because the poor air quality impaired the visibility. So I could not take a picture!!Read More »
China – VAT Pilot Program to be extended to another 10 provinces starting August 2012
Earlier today China time, the State Council of the PRC announced that the VAT Pilot Program would be implemented in another 10 provinces and cities in China (namely Beijing, Tianjin, Jiangsu, Zhejiang, Anhui, Fujian, Hubei, Guangdong, Xiamen and Shenzhen) over the period from 1st of August through the end of 2012. It is not explicit from today’s announcement when the program will be specifically implemented in Read More »
Michaela Merz 