Global Indirect Tax News

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Global Indirect Tax News

Monthly newsletter covering VAT, goods and services tax, sales tax issues, and customs and trade issues around the globe.

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January 2015

Featured articles:

OECD

  • OECD releases discussion drafts on new elements of International VAT/ GST Guidelines
  • Consumption tax trends

Americas

  • Colombia: Requirements for offshore permanent free trade zones for oil and gas industry 
  • Colombia: 0% customs tariff for importation of cotton
  • Mexico: Antidumping investigation for U.S. origin apples
  • Mexico: Compensatory quota investigation for ethylene glycol monobutyl ether imported from the U.S.
  • United States: New Jersey adopts sales tax rules for software and related services
  • Uruguay: International delivery packages 

Asia Pacific

  • ASEAN: Abolishment of FOB value under AJCEP Form AJ
  • China: China tariff policy for 2015 announced
  • India: Aluminum dross and skimming not subject to excise duty – even post May 2008
  • India: Increase in Sikkim VAT rates and Sikkim sales tax rates
  • India: Salient features of the Constitutional Bill 2014 to enable the introduction of GST
  • India: Division of Non Processing Areas for use by Special Economic Zone and Domestic Tariff Area entities
  • Indonesia: Government revokes thousands of import licenses
  • Indonesia: Import duties on finished goods to be increased 
  • Japan: Updated on proposed changes to taxation of cross-border digital services
  • Singapore: U.S. and Singapore sign Customs Mutual Assistance Agreement and Mutual Recognition Arrangement
  • Singapore: Strategic Goods (Control) (Amendment) Regulations 2014 take effect on 1 January 2015
  • Singapore: Singapore signs Arms Trade Treaty
  • South Korea: Introduction of advanced adjustment system for customs and internal tax
  • Asia Pacific – trade preferences: Philippines-European Union, Singapore-Gulf Cooperation Council, South Korea-Australia, South Korea-New Zealand, South Korea-Vietnam

EMEA:

  • Belgium: Company acting as director must apply VAT on fees – deferred until 1 January 2016
  • Belgium: Final tax point rules – entry into force deferred until 30 June 2015
  • Belgium: VAT on port taxes/ dues
  • Croatia: Amendments to Croatian VAT legislation from 1 January 2015 
  • Denmark: Full deduction for input VAT on hotel accommodation as from 1 January 2015
  • Denmark: Change of administrative practice for corrections of VAT
  • Denmark: Mini One Stop Shop invoice requirements
  • Denmark: Owners of new buildings and building sites may be able to sell without VAT in certain circumstances
  • Denmark: Abolition of simplification rule for foreign tourist buses’ activities
  • Denmark: Customs update
  • Eurasian Economic Union: Armenia’s accession to the Eurasian Economic Union
  • European Union: EU consultation on ‘public interest’ VAT exemptions and VAT for public bodies 
  • Finland: Supply of scrap metal subject to domestic reverse charge mechanism as of 1 January 2015 
  • Finland: Books published on physical means of support other than paper not subject to reduced VAT rate
  • Finland: SAC considered remuneration for transfer of outstanding debts a taxable collection service
  • Finland: SAC has published two rulings regarding the management services provided to SIFs
  • Finland: Buyer allowed to deduct input VAT on prepayments, although supply not carried out due to liquidation of the supplier
  • Finland: Amount withheld by buyer from payment to supplier regarded as indemnity and not a discount
  • Germany: Threshold established for reverse charge on base and precious metals
  • GCC-EFTA: Update on implementation of Free Trade Agreement
  • Iceland: Changes to VAT rates and excise duty regime and amendments to VAT legislation
  • Italy: New rules for letters of intent
  • Italy: New 2015 VAT form (annual VAT return FY 2014)
  • Italy: Stability Law 2015 (Law n° 190 dated 23 December 2014) published in the Official Gazette on 29 December 2014 
  • Italy: Clarification of new VAT refund rules
  • Italy: Draft of legislative decree on MOSS regime sent to Parliament for analysis
  • Italy: Right to be heard before a decision about the abuse of right – Supreme Court (sentence n°406 dated 14 January 2015) 
  • Lithuania: VAT amendments
  • Lithuania: Amendments to the excise duty law 
  • Luxembourg: VAT rate increase
  • Netherlands: No benefits under EU law where conscious involvement in VAT fraud
  • Poland: Potential changes to Polish VAT law
  • Poland: Changes to excise duty provisions as of 1 January 2015 
  • Portugal: VAT changes in Portuguese Budget Law for 2015
  • Portugal: Environmental Tax Reform
  • Portugal: Implementation of the 2015 EU place of supply changes
  • Portugal: New rules for local VAT refunds
  • Spain: Amendments to VAT Law
  • Ukraine: Tax reform enacted
  • United Kingdom: Change to Intrastat arrival threshold from 1 January 2015 
  • United Kingdom: HMRC guidance on VAT and prompt payment discounts
  • United Kingdom: HMRC guidance for businesses supplying digital services to private consumers
January 2015
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