As previously reported, Japan will introduce a new qualified invoice regime for Japanese Consumption Tax (JCT) with effect from 1 October 2023. The new system will align the JCT regime more closely with European-style VAT regimes, and in order to claim input tax credit, the purchaser will be required to retain ‘qualified invoices’ issued by ‘qualified invoice issuers’. This change will greatly impact not only companies conducting their business physically within Japan, but also foreign companies providing digital services to customers in Japan.
Please see below for further details of the new system, along with a link to a short webcast which highlights some key points that taxpayers should be particularly mindful of. The webcast (available from 12 July 2021 to 11 July 2022) also identifies certain practical issues that may arise, and is a starting point for taxpayers looking to plan their transition to the new invoice system.
Recently, the Supreme Court1 has held that the amounts paid to the non-resident software suppliers, which do not create any right or interest with the distributor/ end-user for use of or right to use any copyright are not royalty under the Double Tax Avoidance Agreement(s) (DTAA). Therefore, the Indian payers were not liable to deduct tax at source (TAS) under section 195 of the Income-tax Act, 1961 (the Act).
The Brexit transition period ended on 31 December 2020 and there is finally a deal between the United Kingdom and the European Union. However, many relevant practical questions for businesses remain open and still need to be resolved.
Yesterday, a Dutch court case was published regarding indirect rebates. In essence, the court of first instance granted a refund to a pharmaceutical company based on the CJEU Boehringer case (C-462/16) although the pharmaceutical company was not obliged to grant the rebates under national law.
Companies supplying articles containing substances of high concern (SVHCs) on the Candidate List in a concentration above 0.1% weight by weight (w/w) on the EU market have will have to submit information on these articles to new EU register – SCIP (Substances of Concern In Products) as from 5 January 2021. Lead (which is widely used in electronics) is also among these substances. Thus, each article Lead (or the substance itself) must be submitted in this register. Please analyse the list of substances in order to understand if you face additional reporting obligation.
Aufgrund der aktuellen Situation wird die für Mai geplante jährliche Zollrechtstagung zu einem späteren Zeitpunkt, nämlich am 8. September 2020, stattfinden.
Als Ersatz für die auf den September verschobene Zollrechtstagung präsentieren wir News und Insights aus dem Zoll- und Aussenhandelsbereich in der Schweiz und der EU in Form eines Webinars. Gerne lade ich Sie daher herzlichst ein, sich in unserem kostenlosen Webinar am 6. Mai 2020 über Aspekte aus dem Zollrecht Schweiz/EU sowie aktuelle grenzüberschreitende Massnahmen und Herausforderungen zu informieren.
There is a figure of speech that you can’t teach an old dog new tricks. But I believe that is simply not true. What matters is the will to try something new and not give up until one has learned it.
Unfortunately, when I was young, I failed to learn the ten-finger system. At school it was not on the curriculum and as at the time one usually wrote by hand, it was of no relevance to me. Therefore I write using the „searching eagle“ system. Read More »