Tag: Circular Letter

B2V Reform (I) China – Opportunities and Challenges to the Real Estate and Construction Sectors

Michaela MerzLeave a comment

612434_web_R_B_by_Rolf Handke_pixelio.deOpportunities and Challenges to the Real Estate and Construction Sectors

In brief

On 24 March 2016, the Ministry of Finance (MoF) and the State Administration of Taxation (SAT) jointly released Caishui [2016] No. 36 on the Comprehensive Roll-out of the B2V Transformation Pilot Program (“Circular 36”), under which the real estate and the construction industry will be transformed from business tax (BT) to value-added tax (VAT) (“B2V Reform”) starting on May 1st 2016 (“expansion date”).Read More »

Italy – Semplificazioni fiscali – details available how to avoid bank guarantee

Michaela MerzLeave a comment

PwC_PC_Italy_Venice_MB_001.jpgLegislative Decree no. 175/2014, so called “Semplificazioni fiscali” concerning tax simplification in connection with the VAT refund claims was introduced in 2014. When released, the rules concerning the simplification procedure were unclear, especially in the application for non-EU companies. Read More »