Global Financial Services Indirect Tax News

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Global Financial Services Indirect Tax News

Quarterly newsletter covering changes in the indirect tax laws around the globe impacting the financial sector.

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August 2015

Featured Articles

  • Interaction between regulation in the financial services industry and the VAT treatment of financial supplies

Asia Pacific

  • China - Update on VAT implementation
  • India - Update on GST implementation
  • Malaysia - Update on GST implementation
  • Malaysia - Industry guidance on GST treatment of financial supplies
  • Malaysia - Restrictions on deemed input tax credit for insurance industry

EMEA

  • Denmark - Guidance issued on ‘management’ of Special Investment Funds
  • Denmark - VAT exemption for cost sharing groups is widened
  • France - Car warranties are exempt from VAT
  • Germany - Draft guidance issued on the purchase of receivables and debt collection
  • Germany - Input tax recovery ‘rounding rule’ referred to CJEU
  • Greece - Instant VAT remittance for bank payments
  • Greece - Increase to Insurance Premium Tax
  • Italy - Clarification of the split payment mechanism
  • Netherlands - Advocate General opinion in Fiscale eenheid X (C-595/13)
  • Sweden - Rules on VAT grouping remain unchanged
  • Sweden - Skandia principles considered in recent case
  • Sweden - Trading in Bitcoins is exempt from VAT
  • UK - Delay in changes to VAT regulations on input tax recovery
  • UK - Summer Finance Bill 2015 to implement tax lock for VAT
  • UK - Increase in Insurance Premium Tax rate announced
  • UK - ‘Use and enjoyment’ provisions to apply to UK repairs made under UK insurance contracts
  • UK - Review of off-shore based avoidance in exempt sectors
August 2015
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