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Global Indirect Tax News

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

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December 2019

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Australia: GST analytical tool

The Australian Taxation Office has been developing the GST analytical tool and testing it on selected taxpayers. The ATO is making available its GAT materials, a guide and a spreadsheet template, to the wider taxpayer community, noting that there may be further refinements.

 

Canada: Global trade advisory update

With increasing protectionism and a rise in the imposition of tariff measures globally, how are companies that engage in cross-border trade affected? Taxpayers must assess the impact of measures and mitigate cost and risk, while maintaining compliance obligations.

 

Guatemala: Electronic regime for VAT credit refunds

The special electronic regime for VAT credit refunds is now available for certain companies that have accumulated VAT credits as a result of their export operations, as an alternative to manually filing the "hard copy" refund application form.

 

Italy: Financial transaction tax not contrary to EU law

Advocate General Hogan of the Court of Justice of the European Union has delivered his opinion in a case involving the compatibility of the Italian financial transaction tax with EU law. The AG concluded that the FTT is not contrary to EU law.

 

Japan: Audits of foreign digital service providers

More than four years have passed since foreign digital service providers became subject to Japanese consumption tax on 1 October 2015. The Japanese tax authorities recently have intensified their audits of FDSPs to maximize collection of JCT due.

 

United Kingdom: Taxation of cryptoassets

The tax authorities updated their guidance for businesses and individuals on the taxation of cryptoassets. The guidance is intended for use by any type of entity conducting a business involving exchange tokens, including companies, partnerships and sole traders.

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