Global indirect tax news update - August 2011
New rules have been introduced with respect to tax registration.
The definition of "fine wines" has been amended for purposes of the Specific Consumption Tax.
The Australian Tax Office's use of early dispute resolution and alternative dispute resolution is under review the Productivity Commission has released a draft report is examining the current indirect tax arrangements applying to purchases from offshore; and details have been announced about the proposed climate change and carbon pricing arrangements.
Notable court cases cover services provided to SEZs, immovable property and SIM cards, and the government has issued a clarification of the "completion of service" rules.
ECJ rules "SWIFT" services do not qualify for VAT financial services exemption.
The VAT rate on magazine and newspaper subscriptions is anticipated to increase to 9%; the Central Tax Board has issued an advance ruling confirming that only printed books are subject to the reduced VAT rate of 9%.
A single-phase tax will be levied on the trade of various products that are deemed to create public health risks.
The tax authorities have issued guidance clarifying intra-community transactions, including supplies authorizations and inclusion in the VIES database.
A VAT suspension system has been introduced.
There have been a number of changes to the VAT rules.
The tax authorities have introduced a new risk engine that enhances their ability to detect fraudulent VAT claims and a new automated process for using the tax fraction.
Council Implementing Regulation (EU) No. 282/2011 enters into force and applies as from 1 July 2011.
The tax authorities have issued guidance on the VAT treatment of ships, aircraft and associated services, and on the VAT treatment of salary sacrifice.
Visit the Global Indirect Tax News archive for issues from the past year.