All imported goods into Malaysia are subject to GST with exception of goods that are relieved from the payment under the Goods and Services Tax Order 20XX.
For details see Guide on Import issued by Royal Malaysian Customs:
Tag: Goods
Poland – VAT changes as from 1 of January 2014
Time limit for issuing invoices
Based on current rules, invoices must be issued within seven days of the date of delivery of the goods/rendering of the service. According to the new rules, suppliers are obliged to issue invoices until the 15th calendar day of the month following the supply. Certain exceptions to this rule allow for a deadline of thirty, Read More »
France – VAT rate changes as per 1 of January 2014
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 »
Portugal – new administrative obligation for transportation of goods as from 1 of July 2013
All goods transported within the Portuguese territory to taxpayers must be accompanied by transport documents issued in accordance with the Portuguese legislation. As from the 1 of July 2013 there is a new obligation to submit the information of the transport documents to the Tax Authority prior to the beginning of the transport. Read More »
ECJ referral – Advocate General’s opinion is issued on the VAT treatment of the storage of goods
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:62012CC0155:EN:HTML
An ever recurring question of EU VAT is referred to the ECJ namely, whether the storage of goods is a service connected with immovable property, which should be subject to VAT where the warehouse is located (Art 47) or rather it is a regular service which should be taxed in accordance with the general rules (Art 44 of the VAT Directive). Read More »
Turkey – mandatory e-invoicing and e-bookkeeping as from 1 of September 2013
The scope of the optional e-invoicing arrangement that was first introduced in Turkey in 2010 has recently been extended and made mandatory to a group of taxpayers. These include companies that hold a mineral oil license, produce or import goods subject to Special Consumption Tax (similar to Excise Duty) and companies that already using e-invoicing when supplying goods or services to other businesses that benefit form the application.Read More »
Germany: new limitation in the application of deemed intra-community supplies transition period until 1 of March 2013
Based on the opinion of the German Federal Ministry of Finance (Bundesfinanzministerium – BMF) the simplification rule is only applicable if the supplier transports the goods himself. In case the recipient organises the transport or the goods are transported by a third party freight forwarder, the simplification cannot be used. Germany has a simplification scheme in place which allows suppliers to treat the cross-border transaction as an intra-community transfer of own goods. In such a case, the supplier reports an intra-community supply in the EU member state of dispatch and an intra-community acquisition in Germany. The delivery to the recipient of the goods in Germany is treated as a domestic supply of goods and charged with local German VAT.
This simplification rule is very useful as the supplier has only a limited administrative effort. Furthermore, the VAT numbers of the recipients neither need to be requested nor verified on regular basis (which might be a huge administrative burden).
The new limitation of the use of the simplification will not generate more revenue for the tax authority but it will create lots of administrative work which could be easily avoided.
Michaela Merz 