USA: Maryland – GST applicable to digital services


Against the veto of the Govenor, the application report of the Sales Tax was extended to digital products and codes – the cut-off date was already 14 March 2021.

The definition of a retail sale now also includes digital products on which the end user is granted a right of use that is permanent, temporary or conditional on regular payments. The same applies to the sale of digital codes with which an end user is granted access (also by way of streaming) to a digital product. The law provides for a more precise definition of the term “digital product”.

Read More »

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 ).

Read More »

Schweiz – Beitrag der USA zur Steuersubstrat in der Schweiz


Die USA haben als Reaktion auf die Corona-Krise den Coronavirus Aid; relief and Economic Security Act (CARES ) erlassen.

Read More »

United States – States provide sales and use tax relief to help mitigate COVID-19 impact


In brief

As businesses continue to grapple with the challenges related to COVID-19, many states are providing tax relief in the form of filing and payment deadline extensions.

Read More »

USA: President Trump announces additional tariffs of 10% on ‘List 4’ China imports


President Trump on August 1 announced via Twitter that, beginning on September 1, the United States will impose additional Section 301 duties of 10% on Chinese-origin products with an annual trade value of approximately $300 billion, covered by List 4.

President Trump had agreed in June not to impose more tariffs while the two sides tried to reach a trade deal, but said August 1 that China has reneged on its agreement to buy agricultural products from the United States in large quantities, and also did not fulfill its commitment to stop the sale of fentanyl into the United States.

The announcement follows the office of the US Trade Representative (USTR)’s May publication of a notice in the Federal Register proposing additional Section 301 duties of up to 25% on the List 4 products. (For prior coverage of the List 4 tariffs, see PwC Insights, USTR proposes more tariffs on long list of China imports, May 15, 2019.)

Products that will be affected by the tariff increase include essentially all products not previously included in Lists 1-3, including all apparel, footwear, and manufactured textile products, as well as common consumer goods such as cellphones, televisions, toilet seats, and pillows. The proposed product list excludes pharmaceuticals, certain pharmaceutical inputs, select medical goods, rare earth materials, and critical minerals. Product exclusions granted by the USTR with respect to Lists 1-3 would not be affected.

 

The Takeaway

Now that President Trump has announced that additional duties on almost all remaining Chinese-origin products will begin in one month, US companies engaging in business with China need to assess their duty exposure. List 4 reinforces the importance of those companies taking action aimed at making their trade function and supply chains as efficient as possible.

Companies in previously unaffected industries need to re-examine their import profiles and supply chains, including the use of available analytical tools, to determine potential impacts and explore mitigation strategies.

 

For a deeper discussion regarding the Section 301 tariffs and how your business may be able to mitigate risks in the changing trade environment, please contact:

Simeon Probst, Partner
Customs, Trade and Indirect Taxes, PwC Basel
Tel. +41 58 792 53 51
simeon.probst@ch.pwc.com

 

Image source: unsplash.com

CANADA: No more surtax on steel and aluminium as from 20, May 2019


On May 17, 2019, Global Affairs Canada released a joint statement with the United States, announcing the elimination (which became effective May 20, 2019) of all tariffs imposed by the United States under section 232 of the Trade Expansion act of 1962 (19 USC §1862) – duties on steel and aluminum, and all retaliatory tariffs imposed by Canada

Both countries have also agreed to terminate all pending litigation between them in the World Trade Organization, with respect to the section 232 duties on steel and aluminum and Canada’s retaliatory surtax.Read More »

US: United States proposes new tarifs on EU products in response to EU aircraft subsidies


United States proposes new tarifs on EU products in response to EU aircraft subsidies

The Trump Administration has identified the European Union as a new object of tariffs, releasing a list of proposed products that may be subjected to additional Section 301 tariffs in light of the EU’s subsidization of civil aircraft.Read More »

Recorded version – US Tax Reform and Impact on US Inbound Companies


416411_web_r_k_by_oliver-brunner_pixelio-deThe Webinar on US Tax Reform and Impact on US Inbound Companies took place last Wednesday.
If you didn’t had the chance to participate, please find HERE the recorded version of this Webinar.Read More »

Upcoming webcast – US Tax Reform and Impact on US Inbound Companies (18 January 2017)


416411_web_r_k_by_oliver-brunner_pixelio-deWith a Trump Administration and Republican-controlled Congress, US tax reform is a priority. What does all of this mean for global companies with investments and business in the United States?

Join PwC’s leaders in tax policy and US inbound issues to learn:Read More »