Michaela Merz


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Australia – GST on low value goods as from 1st of July 2018


From 1 July 2018 Australian goods and services tax (GST) will apply to sales of low value goods sold to consumers in Australia. Businesses that meet the A$75,000 registration threshold will need to register for GST, charge GST on relevant sales and remit the GST to us by lodging returns. Continue reading


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India: Government issues clarifications to further ease the procedure for filing and sanction of export refunds


Based on representations and to ensure uniformity in the implementation of the refund provisions relating to export of goods and services, the Central Board of Excise and Customs (Board) has issued Circular No. 37/11/2018 – GST dated March 15, 2018 to clarify various aspects relating to processing and sanction of refund claims. Continue reading


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India – SC holds that no service tax is payable on reimbursable expenditure or cost incurred by the service provider before 14 May, 2015


Background
Section 67 of the Finance Act, 1994 (the FA, 1994) deals with the valuation of taxable services for the purpose of levy of service tax. Further, the Service Tax (Determination of Value) Rules, 2006 (the Rules) were also issued, to specify inclusion or exclusion of various amounts in the value of taxable services. Continue reading


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India – Highlights of mid-term review of Foreign Trade Policy 2015-203


Background

The long awaited mid-term review of the Foreign Trade Policy 2015-20 (the FTP or the Policy) was released by the government. The Policy focuses on expanding market, alignment with GST, data analytics backed policy intervention and trade facilitation with specific emphasis on MSME and labour intensive sectors. Continue reading


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A Guide to VAT/GST/SUT in the Americas 2017


Consumption taxes play a crucial role in the Americas, regardless of whether they are assessed as Value Added Tax (VAT), Goods and Sales Tax (GST), Sales and Use Tax (SUT) a Customs duty or excise tax. For tax authorities indirect taxes are an efficient and often a fair way of raising revenue and we see indirect tax revenues continue to increase as a proportion of tax take around the world. The rules, rates, interpretations and practices are also constantly changing. Continue reading


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India – Implementation of GST in 2017


649152_web_r_k_b_by_katharina-wieland-muller_pixelio-deThe Goods and Services Tax (GST) bill was passed in Indian Parliament (Rajya Sabha on August 3 and has been approved by the Lok Sabha on the 8th August). It has been ratified by 50% of the states. The government is aiming for an implementation date of 1 April 2017. However based on the feedback received from our colleagues, the industry is hoping that such date could be delayed to July 2017 as a lot remain to be done to allow the implementation. The new GST Law will impact IT systems, accounting processes, contracts and business models. Continue reading


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Irish company law changes


Irland_Christian Neßlinger_pixelio.deTax authorities across the Organisation for Economic Cooperation and Development (“OECD”) increasingly expect organisations to be able to confirm that tax risks are appropriately managed. Various measures are being introduced by tax authorities that aim to encourage good tax governance and the implementation of strong tax control frameworks. Continue reading