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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March 2015

Featured articles:

Americas

  • Costa Rica: Costa Rica’s executive branch recently presented a proposal to reform General Sales Tax.
  • Mexico: Mexican sugar subject to export quotas.
  • Mexico: Countervailing duties imposed on imports of ammonium sulfate.
  • Mexico: Eighth Amendment to Mexican Foreign Trade Rules.
  • United States: U.S. Supreme Court issues decision in Colorado remote seller reporting case.
  • United States: New process for consolidated electronic filing of cargo release and ISF data in ACE.
  • United States: BIS and OFAC amend regulations on Cuba and State Department publishes statement on goods and services eligible for importation.
  • Trade Preferences: Mexico-Brazil: Mexico and Brazil agree on free trade in the automotive sector.
  • Trade Preferences: Mexico-Paraguay: Mexico and Paraguay resume negotiations for a trade agreement.

Asia Pacific

  • ASEAN: ASEAN ministers advance AEC blueprint after two-day retreat.
  • India: Highlights of the indirect tax changes in the Union Budget for the financial year 2015-16.
  • India: Highlights of the VAT-related changes in the State Budget for the State of Rajasthan.
  • India: Service tax paid on a works contract transaction is not to be part of the sale price for the levy of VAT in the State of Maharashtra.
  • India: Amendments to the Rajasthan Investment Policy Scheme 2014 to extend further benefits to the electronic system design manufacturing sector.
  • India: Exemption and reduction in basic customs duty and countervailing duty for certain medical devices/inputs for use in the manufacturing of certain medical devices.
  • Japan-Malaysia: Implementation of Japan-Malaysia mutual recognition of AEO programs.
  • New Zealand: A draft operational statement has been released by the tax authorities regarding GST and the costs of sale associated with mortgagee sales.
  • New Zealand: A Bill has been introduced regarding the GST treatment of bodies corporate.
  • Singapore: Application for customs permit via Tradenet® for importation of ship spares for repair.
  • Singapore-Hong Kong: Implementation of Hong Kong-Singapore mutual recognition of AEO programs.
  • South Korea: Amendment of interest rate for customs duty penalty tax.
  • South Korea-Mexico: Implementation of Korea-Mexico mutual recognition of AEO programs.
  • Trade Preferences: China-Korea: The governments of China and Korea initialled a free trade agreement on 25 February 2015.

EMEA

  • Egypt: Update on VAT introduction and revisions to existing sales tax.
  • European Union: France and Luxembourg lose ‘reduced VAT rate on e-books’ cases at CJEU.
  • Finland: Port fees charged by a port operator to a shipping company’s agent were VAT exempt.
  • Italy: New filing obligations for VAT returns and communications postponed.
  • Italy: Invoicing obligations for domestic supplies made by foreign companies subject to reverse charge.
  • Italy: VAT refunds for suppliers under split payment regime.
  • Italy: Clarification of requirements for e-invoicing for supplies made to public administrations.
  • Italy: Clarifications on e-invoicing and the split payment mechanism.
  • Italy: Circular letter n° 7/E dated 26 February 2015 regarding the ‘endorsement of conformity’.
  • Italy: Confindustria ask EU not to authorize application of reverse charge mechanism to large-scale retail businesses.
  • Italy: Supreme Court decision in VAT fraud case.
  • Italy: Supreme Court confirms right to VAT deduction following CJEU judgment.
  • Malta: The VAT authorities have published guidance on the definition and scope of ‘electronically supplied services’.
  • Malta: The legislator has introduced an exemption from the obligation to issue fiscal receipts with respect to supplies made under the mini one stop shop.
  • Malta: A reduced VAT rate has been introduced for books ‘disseminated through electronic means’.
  • Malta: The VAT registration threshold for persons established in Malta was abolished with effect from 1 January 2015.
  • Malta: The rules regarding the remission of interest and administrative penalties have been amended.
  • Poland: Court ruling expected on VAT bad debt relief provisions.
  • Portugal: The draft law to regulate online gambling and betting has been approved, but has not yet entered into force.
  • Portugal: It is intended that the reduced and intermediate VAT rates applicable in the Autonomous Region of Azores will be reduced this year.
  • Portugal: The tax authorities have issued an administrative ruling regarding the agricultural producers’ regime.
  • Slovenia: A special VAT arrangement has been introduced for the provision of occasional international road transport of passengers.
  • Slovenia: Approval of the action plan for the introduction of fiscal cash registers by the government.
  • Switzerland: Proposal issued on the VAT law revision, with a number of proposed amendments, in particular concerning foreign persons doing business in Switzerland.
  • United Kingdom: VAT grouping and offshore branches – changes in practice from 1 January 2016.
  • United Kingdom: Court of Appeal judgment in VAT ‘restitution’ claims.
  • United Kingdom: Consultation on removal of manual customs declarations.
March 2015
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