Global Indirect Tax News

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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 2017

Asia Pacific

  • India: There is an update on GST developments, following the introduction of GST in July 2017.
  • India: The mid-term review of the Foreign Trade Policy 2015-20 has been released by the Government. It will remain in force until 31 March 2020.
  • India: A recent case has considered whether the education cess and higher education cess paid with excise duty are also liable to be refunded with central excise duty where the excise duty was exempted from levy via exemption notifications.
  • Malaysia: Budget 2018, released on 27 October 2017, included a number of GST-specific developments.
  • Malaysia: Royal Malaysian Customs Department guides have been amended and public rulings have been issued.

EMEA

  • European Union: The European Commission has proposed new tools to combat VAT fraud.
  • European Union: The European Council has adopted new rules on VAT on electronic commerce.
  • Germany: The CJEU has ruled that the German VAT invoicing rules are too restrictive.
  • Hungary: The VAT rates for certain goods and services will change from 1 January 2018.
  • Hungary: A new tax, the tourism development contribution, has been introduced, with effect from 1 January 2018.
  • Hungary: Based on publicly available draft legislation, from 1 July 2018, taxpayers issuing invoices using invoicing software will be obliged to provide real-time data to the tax authorities.
  • Latvia: A new reduced VAT rate will apply to certain supplies made from 1 January 2018 until 31 December 2020.
  • The Netherlands: The 2018 Tax Plan has been adopted by the House of Representatives.
  • The Netherlands: The Supreme Court has ruled that there was no abuse of law with respect to a foundation that operates a sports complex.
  • The Netherlands: VAT on bad debts must be reclaimed in due time.
  • Russia: Foreign providers of e-services will be required to pay VAT themselves on B2B supplies of e-services.
  • Russia: A zero VAT rate for the re-export of goods is introduced.
  • Russia: There will be an option not to apply the zero VAT rate to certain transactions.
  • Russia: A 'tax-free' system has been introduced.
  • South Africa: The general rate of customs duty for certain commodities has been increased.
  • South Africa: A rebate provision has been implemented for greenhouses of iron or non-alloy steel.
  • Ukraine: There are changes to the VAT exemption rules for goods imported by individuals.
  • Ukraine: Parliament has extended the list of imported goods eligible for installment payment of VAT.
  • Ukraine: Importation into Ukraine of new or used vehicles powered solely by one or two electric engines will be temporarily exempt from VAT and excise tax.
  • Ukraine: There are tax incentives in support of cinematographic activities.
  • Ukraine: Customs 'single window' implementation is underway.
  • Ukraine: The National Bank of Ukraine has simplified the procedure for making advance payments in foreign currency for imported goods.
  • United Kingdom: The tax authorities’ policy change on the VAT treatment of pension fund management by insurers has been deferred.
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