Recent study from Americans for Tax Reform and the Canadian Taxpayers Federation has found that, of the 123 Unrestricted Free Agents who changed their teams in the NHL during the 2014 off-season, 57% went to teams in states or provinces with lower taxes. CTF National Research Director Jeff Bowes said “The numbers don’t lie; NHL players take a financial hit to play in certain jurisdictions… the fact remains that disparities in tax rates leave some teams at a major disadvantage”. Read More »
Tag: tax
ECJ C -7/13 – Skandia – VAT liability regarding Head Office to branch supplies where the branch is a member of a VAT group – implementation in Ireland
Irish Revenue issued an E-Brief end of October confirming that they will commence a consultation process with industry and tax advisors regarding the recent Skandia case. The Revenue also confirmed that until such consultation process has been completed and new guidance is published, Irish taxpayers can continue to treat services on the basis of the existing practice.Read More »
Japan: new legislation to tax cross-border electronic services provided by non-established companies to come soon
Currently the B2C supply of services by a non-established company to Japanese customers is not subject to Japanese consumption tax (JCT). This provides competitive advantage to non-established service providers of electronic services compared to Japanese businesses. Since the JCT rate increased from 5% to 8%, with another increase to 10% estimated from 1 October 2015 this advantage is increasing further.Read More »
USA – tax regulation of bitcoins and other crypto currencies
IRS (internal revenue service), the US tax authority, published this year (March 25, 2014) a clear guidance (Notice 2014-21) on how the tax principles apply to transactions involving bitcoins and other crypto currencies. It is not a new law but just an interpretation of how the existing law should be applied to the new technology. It describes how Bitcoin and other crypto currencies transactions should be taxed. Read More »
Czech Republic – How to fight against tax evasion
About 100 selected tax officers from various parts of the Czech Republic are coming these days to “help Prague” and to support inspections of taxpayers falling within the scope of Prague Tax Offices. Those authorities have been known for struggling with a lack of time and staff for carry out limited or full tax inspections on a regular basis. As one would expect, this inspired plenty of businesses who on purpose registered their seat in Prague, which further worsened the issue.Read More »
How to import goods in Malaysia – Guide on Import
All imported goods into Malaysia are subject to GST with exception of goods that are relieved from the payment under the Goods and Services Tax Order 20XX.
For details see Guide on Import issued by Royal Malaysian Customs:
Fighting the tax fraud – Portugal/Spain – Exchange of tax information/Portugal/Espanha – Troca de informação fiscal
On 21 October 2013, Portugal and Spain signed agreements regarding the strengthening of mutual assistance and automatic exchange of information on tax matters. These aim at fighting tax fraud and evasion and the parallel economy. The signed agreements refer to several potential fraudulent situations, including:Read More »
Poland – VAT changes as from 1 of January 2014
Time limit for issuing invoices
Based on current rules, invoices must be issued within seven days of the date of delivery of the goods/rendering of the service. According to the new rules, suppliers are obliged to issue invoices until the 15th calendar day of the month following the supply. Certain exceptions to this rule allow for a deadline of thirty, Read More »
Standard EU VAT Return: Easing life for businesses and improving tax compliance
A new standard VAT return, which can cut costs for EU businesses by up to €15 billion a year, has been proposed by the Commission on 23 October. The proposal still needs to be adopted by the Member States, and if everything goes well will go live on 1 January 2017.Read More »
Tax Academy – tax in a new package
About the Tax Academy programme
We have prepared this special nine-day programme to help both our clients and own tax experts to easily understand fundamental principles, processes, current procedures and specific terminology in the field of Czech and international tax practices. The programme is focused on several main topics – it consists of five modules, Read More »
Michaela Merz 