Japan – PwC Webcast on ‘Qualified Invoice Retention System’

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.

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EU: Guide to the VAT One Stop Shop

The Guide to the VAT One Stop Shop providing practical details concerning registration, VAT returns and VAT payments is now available in https://ec.europa.eu/taxation_customs/business/vat/ressources_en

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India – Supreme Court decision taxation of software payments

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).

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Webinar – After the Brexit deal: what you need to know and do next – 18 January 2021

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.

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Netherlands – Dutch court confirms broad application of CJEU Boehringer

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. 

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UK: recovery of UK VAT (13th Directive claim) for non established non registered foreign businesses

The “Revenue and Customs Brief 20 (2020): repayment of VAT to overseas businesses not established in the EU and not VAT registered in the UK” has been published.

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EU – changes in the EU law new reporting obligations for new EU register – SCIP (Substances of Concern In Products) as from 5 of January 2021

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.

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Virtuelle Zollrechtstagung light: Webinar, 6. Mai 2020

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.

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The first time

The first time

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 »

Do we still need printed newspapers?

For many years I have had a newspaper subscription. When the digital version of the newspaper was introduced, I very quickly switched to the electronic version. It is easier, more practical, always to hand and one can search the archives. It is also friendlier to the environment, because not a single tree has to be felled because of my reading mania.

But I read the electronic issue differently from the printed paper. In the electronic version my approach is very focused and I really only look at what interests me particularly. I don’t even click on other topics and advertising annoys me terribly. Every advertisement is clicked away immediately, usually before it is even clear what they are advertising. The advertisements, which force me to watch them for a few seconds before I can remove them, make me so mad (after all someone is trying to force his will on me) that the supplier has no chance at all with me.

The printed issue is different. I leaf through the whole newspaper, frequently become interested in a subject, which I had skipped in the electronic version and read both the death notices (in the electronic version never) and even some of the advertisements. And that is good, because only in this way do I discover some exciting events, which I then attend and am grateful that I had discovered them at all. In the last issue there was the Swiss championships in Poetry Slam and also a lecture about Japan.

What is the future of printed newspapers? I fear that in 20 years they won‘t exist any more. Then I’ll presumably have to change the way I read the newspaper. But there are worse things.

To close, the professional information: the electronic version of the newspaper, which in the past carried a higher VAT rate than the printed newspaper, is now treated equally. Following the partial revision of the Swiss VAT Law at 1.1.2018 both are charged with the reduced VAT rate. I’m very pleased about that. It doesn’t matter that you hadn’t even noticed. But you can still be pleased.