JAPAN: Increase of the consumption tax rate as from 1 of October 2019

On October 1, 2019, the Japanese consumption tax (JCT) rate will be raised from 8% to 10%. Taxable sales and taxable purchases conducted on or after that date are generally subject to JCT at 10%. However, transactions of specific items will remain subject to JCT at 8%. This is mandatory and not optional.Read More »

Japan – Tax authorities’ guidelines for the new JCT rules as of 1 October 2015

503636_web_R_by_Thommy Weiss_pixelio.deThe Japanese National Tax Agency (NTA) published its guide on the Japanese Consumption Tax (JCT) obligations of the cross-border supply of electronic services.

You can access the English version of the document intended for foreign businesses HERE. The NTA also published some further documents HERE on this topic, however all these documents “are used only for explanations”.Read More »

OECD – Consumption Tax Trends 2014 and The Distributional Effects of Consumption Taxes in OECD countries – reports published

Aerial view of people sitting in a public area - PwC, Photo_RGB_PC_ 446.jpgConsumption Tax Trends 2014
Tax landscape is shifting away from taxes on labour and corporate income towards more ‘growth friendly’ sources of revenue, like consumption taxes and property taxes. VAT is an important source of revenue for OECD countries, representing on average approximately 20% of total tax revenues. Read More »