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.
Covid lockdown brought us shopping over internet only, extensive growth number of retail eshops for various kind of product and services. The share of e-shops in retail sales is currently 13,5%. Customers expectations of quality and speed of deliveries are increasing, the complexity of the logistic, order fulfilment etc is becoming more and more demanding.
The company internally created e-shop becomes a complicated project and needs to be managed well. Outsourcing can be a valuable solution.
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).
It is a great pleasure to present you the PwC 2020 Global Automotive Tax Guide. The Guide provides a unique oversight of tax aspects related to the use of cars in 43 of the world’s most relevant car markets.
The Indian Finance Minister presented Budget 2021 resting on 6 pillars with focus on providing impetus to Infrastructure, Manufacturing, Financial Sector and generation of Employment. On the tax proposals, the proposals convey a holistic approach to accelerate India’s revival and growth. Please find below summarised points of interest:
Due to COVID-19, the Austrian tax authorities have granted very generous deferrals of payments for all types of taxation. So far, tax payments that were booked on the tax account until the end of September, are generally deferred until 15 January 2021.
Due to the ongoing economic disruption and the expected inability to balance the tax liability by that date, the rules are amended as follows:
Die Mehrwertsteuer ist im steten Wandel und wird immer transparenter.
Für Sie als Entscheidungsträger wird es immer schwieriger, all die gesetzlichen und behördlichen Vorgaben / Neuerungen effizient und kostengünstig einzuhalten. Dazu kommt die aktuelle COVID-19-Situation, welche umsatzsteuerliche Herausforderungen mit sich bringt, die es zu meistern gilt. Gleichzeitig spielt Industrie 4.0, die umfassende Digitalisierung der industriellen Produktion, die den absehbaren Wandel herbeiführt, aber auch neue Chancen zur Prozessoptimierung bietet, eine immer wichtigere Rolle.
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.