India – Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020


The President of India promulgated the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (Ordinance),1 on 31 March 2020, to put into immediate effect the relief measures2 announced by the Finance Minister on 24 March 2020, in response to the Novel Coronavirus (COVID-19) outbreak. The Ordinance is in line with relief measures announced earlier on statutory and regulatory compliances under various laws.

Read More »

India – Foreign Trade Policy extended with relaxation in timelines due to COVID-19 pandemic


The Foreign Trade Policy is notified for five years with annual supplements generally notified by the Directorate General of Foreign Trade (DGFT). The present Foreign Trade Policy notified in 2015 was valid until 31 March 2020. It was expected to be replaced by a new Foreign Trade Policy effective 1 April 2020.

Read More »

India – Participation by a non-resident celebrity in a product launch event outside India, targeted for the Indian market, triggered business connection in India


Tribunal holds that participation by a non-resident celebrity in a product launch event outside India, targeted for the Indian market, triggered business connection for him.

Read More »

India – RBI issues guidelines to regulate payment aggregators and payment gateways


Recently, the Reserve Bank of India (RBI) released guidelines to regulate payment aggregators (PAs) and payment gateways (PGs). The guidelines mandate PAs to obtain authorisation from the RBI, obligate settlement of payment to merchant in a defined transaction time, segregate e-commerce marketplaces from the PA entities and prescribe minimum net worth requirements of INR 250m. Existing PAs are required to apply for authorisation by 30 June 2021.

Read More »

India: Customs bonded warehouse: Time to shift?


As part of the Government of India’s (GoI) efforts to promote manufacturing and other operations in India, the Central Board of Indirect Taxes and Customs (CBIC) has revamped the scheme for manufacturing and processing in a bonded facility. The revised initiative underscores the GoI’s ongoing commitment to improve India’s ranking on the Ease of Doing Business index.

Read More »

India: Union Budget – Rebuilding momentun 2020-21


The Indian sentiments on growth mirroring the global pessimism and manifested through distress in the financial sector, lower GST collections and strain on the fiscal deficit was the backdrop in which the Finance Minister tabled the budget proposals for FY 2020-21.

Read More »

International VAT Breakfast, 20 June 2019


With the approaching summer, I would like to take the opportunity to meet you prior to the holiday season and discuss the latest developments and upcoming challenges in the ITX world.

The EU Quick fixes, i.e. measures aiming to improve the current VAT system applicable as of January 2020 will require businesses to adapt their systems and processes. We will therefore share with you the first observations collected from the various EU countries that have already released their draft legislation and discuss the practical implementation and steps required to check the readiness of your company in connection with those new rules.

As usually, we will provide you also with an overview of worldwide developments including practical experiences from recent VAT audits in Switzerland and interesting ITX news from locations, such as Bangladesh, India and China.

Prior the judiciary holidays, we will present the latest impacting cases issued by the ECJ with particular focus on the input VAT deduction right and the points of attention for businesses to secure those rights, particularly, in supply chain transactions.

Finally yet importantly, we will discuss the trade wars and the resulting increased focus on customs as with the increase in rates the duties become more important as ever. Since experience shows that businesses are often lacking the necessary controls in this area, our Customs specialists will share their insights on the future developments and present the solutions that businesses could implement to assess their actual position and identify potential saving opportunities.

Date

Thursday 20 June 2019

Costs

This event is free of charge.

Location

PwC Geneva, Avenue Giuseppe Motta 50, 1202 Genève

Speakers

  • Patricia More, Tax & Legal Services Principal – ITX, PwC Switzerland
  • Konstantina (Nadia) Tsiosta, Tax & Legal Services Manager – ITX, PwC Switzerland
  • Kristyna Kaniova, Tax & Legal Services Manager – ITX, PwC Switzerland
  • Krisztina Nagy, Tax & Legal Services Assistant Manager – ITX, PwC Switzerland

Agenda

08:00 Welcome & coffee
08:30 Introduction
08:40 VAT Outlook: EU Quick fixes & Latest ITX developments around the globe
09:00 Impacting Case Law
09:20 Customs update: Trade wars & Insights on Customs processes, management & optimization
10:00 Q&A & networking
10:30 End of the event

Find out more and register here >

Image source: unsplash.com