Tag: tobacco

KSA: 50 – 100% Excise Tax introduction on certain products

Michaela Merz1 Comment

The General Authority of Zakat and Tax (“GAZT”) of the Kingdom of Saudi Arabia (“KSA”) announced recently that it will start applying a 50% Excise Tax on Sugar Sweetened Beverages (“SSBs”) and a  100% Excise Tax on electronic devices and equipment used for smoking, as well as the liquids used in electronic devices and equipment used for smoking.

The amended Excise Tax Implementing Regulations have been published in the Official Gazette on 15 May 2019, and enters into force with immediate effect, with the exception of the Excise Tax on SSBs, which will await a further decision by the GAZT Chairman. A GAZT spokesman has informally anticipated that the Excise Tax on SSBs is expected to take effect from 1 July 2019.Read More »

Turkey: changes in relation to the Electronic Record Keeping Requirements and e-invoicing

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Electronic Record Keeping Requirements

The Turkish Revenue Administration (TRA) has introduced the Electronic Record Keeping Obligations by issuing the Tax Procedural Law General Communique no. 431 on 29 December 2013. As a result, since 1 January 2015 certain Turkish taxpayers (from petroleum and tobacco products market) are obliged to create and keep their records in one of the certain formats (xls, xlsx, txt, csv or xml). Read More »

Czech Republic – Successful Fight Against VAT Fraud in 2014

Michaela Merz1 Comment

Photo_RGB_PC_48238.jpgPeople walking near parked cars on a street - PwCA specialised team, the “Tax Cobra” was officially established in June 2014 under the joint effort of the Czech General Tax Directorate, General Customs Directorate and the Police Unit for Detection of Fraud and Financial Criminality to fight against VAT fraud in the Czech Republic.Read More »