China managed VAT by invoice, therefore VAT invoice management is a key point, and the Chinese tax authorities have been using information technology on VAT collection and management. Continue reading
What will change?
On 12 May 2017 Polish Ministry of Development and Finance presented a draft amendment to the VAT Act which main purpose is to ensure greater stability of VAT incomes as well as preventing tax avoidance. To achieve these goals, it is decided to introduce a split payment mechanism within VAT taxation. Continue reading
The Supreme Administrative Court in Poland ruled on the Welmory case. Even though the case went through Court of Justice of the European Union (CJEU, C-605/12) back to the final instance in Poland – nothing seems certain whatsoever. Many would have expected the court following CJEU argumentation and probably confirming existence of fixed establishment in Poland. This, however, turned out not to be the case. Continue reading
In a constructive meeting of the GST Council, various important aspects have been finalised. The CGST and IGST laws have been formally approved by the GST Council. Continue reading
In particular, art. 50-bis of Law Decree no. 331/1993 (the provision regulating VAT warehouse simplification in Italy) has been amended as follows: Continue reading
The budget Law (Bill n°6720) introduced a new procedure, effective as from 1 January 2015, for VAT-registered businesses which claim periodic VAT refunds. Continue reading
The Australian tax authority released a number of draft tax determinations and a guidance paper, in which it states that bitcoin and other cryptocurrencies are not money or foreign currency for taxation purposes. It is the view of the Australian Taxation Office that: Continue reading