EU – VAT treatment of telecom/mobile services. – non EU telecom providers maybe facing new VAT obligations – Case C 593/19


On 22 October 2020, an opinion of the Advocate General (AG) has been published in the case SK Telecom Co. Ltd. Vs  Finanzamt Graz-Stadt (Case C‑593/19). This case concerns the use and/or enjoyment rules for VAT in case of roaming services in a EU Member State.

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Switzerland – US contribution to the tax base in Switzerland


In response to the corona crisis, the US passed the Coronavirus Aid; relief and Economic Security Act (CARES ).

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Ecuador – VAT due on digital imports from 16 September 2020


Ecuador has announced that effective 16 September 2020, digital services supplied to local consumers will be liable to 12% local VAT, and that non-resident suppliers of such services will be liable to register and account for local VAT, or have the VAT withheld by payment service providers.

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India – Tax News Alert – Central Government amends E-assessment Scheme, 2019 to conduct faceless assessments


The Prime Minister (PM) launched a platform for “Transparent Taxation – Honouring the Honest.” The tax system aims at being Seamless, Painless and Faceless with three pillars under consideration: (a) Faceless Assessment, (b) Faceless Appeals, and (c) Taxpayers’ charter, with faceless assessment and taxpayers’ charter coming into force from 13 August 2020, and faceless appeals to be available from 25 September 2020.

Please click here to read the full News Alert.

Steuerkonferenz 2020 des Instituts für Finanzdienstleistungen Zug IFZ


Die Konferenz ist aktuellen und praxisrelevanten Themen im Bereich des Unternehmenssteuerrechts sowie dem Wealth Management gewidmet. Insbesondere werden nachstehende Themen diskutiert und analysiert:

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India – National Anti-Profiteering Authority holds a multiplex owner guilty of profiteering in view of the reduction in GST rate


Recently, the National Anti-Profiteering Authority (NAA) held a multiplex owner guilty of profiteering under section 171 of the Central Goods and Service Tax Act, 2017 (CGST Act). The NAA has upheld the allegations of the Directorate General of Anti-profiteering (DGAP) that post reduction in the rate of GST from 28% to 18%, the taxpayer had increased the base price while maintaining the same selling price for the services rendered.

Please click here to read the full News Alert.

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Switzerland : change in the definition of electronic supply


The Swiss VAT Authority has amended the VAT brochure number 13 on electronic supplies of service and telecommunications.

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Germany – temporary reduction of value added tax rates from July 1, 2020 -webcast on Wednesday, 24 June 2020 12.30 pm to 2 pm German time


The German legislator has recently published a draft law reducing the German VAT rates for the second half of 2020 in order to cope with the consequences of the Covid-19 pandemic. According to the draft law, the standard VAT rate will be reduced from 19% to 16% and the reduced VAT rate from 7% to 5% in the period 1 July to 31 December 2020.

The Federal Ministry of Finance (BMF) has already published a draft decree dated 11 June 2020 on the temporary reduction and (re)increase of VAT rates. To date, it is not yet fully clear when a final version of the decree will be published. In many cases, the draft of the decree resembles in detail the BMF decree of 11 August 2006, which was issued at the time of the last standard VAT rate increase (on 1 January 2007) from 16% to 19%.

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Barbados – Economic substance requirements – new reporting obligations


As from January 1 2020, a resident company shall file an economic substance declaration with the Barbados competent authority annually within 12 months after the last day of the end of each fiscal period.

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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.

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