Global indirect tax news update - June 2011 |
Americas
Colombia
Certain manufacturers can now benefit from a partial VAT exemption.
Peru
The VAT Law has been amended to exempt interest earned on certain securities.
Uruguay
The government is considering a reduction in the 20% standard rate of VAT.
Asia Pacific
Australia
More details have been announced regarding the taxation of alternative fuels.
New Zealand
A recent court decision considers what qualifies as a sale of a going concern.
EMEA
Austria
Changes have been made to the reverse charge provisions and the rules on intra-Community acquisitions.
European Union
The deadline for 13th Directive refund claims in several countries is 30 June.
Finland
A recent court decision considers the ability of an insurance company to deduct input VAT on consultancy services related to a sale of shares by the company.
Ireland
A second reduced VAT rate of 9% will be introduced for the period 1 July 2011 to 31 December 2013.
Italy
The tax authorities have issued a number of clarifications in relation to reporting obligations, VAT grouping and payment dates.
Luxembourg
The Ministry of Finance has presented a draft law proposal for the implementation of a VAT warehouse regime.
Poland
VAT changes affect free supplies, import VAT reliefs, the reverse charge and VAT deduction rules.
Slovenia
The VAT legislation has been amended in relation to late payments.
South Africa
The tax authorities have issued two binding general rulings that provide a legal framework for the treatment of discounts, rebates and incentives granted by automobile manufacturers and those in the Fast Moving Consumable Goods industry.
United Kingdom
The tax authorities have made an announcement in response to the ECJ decision in the joined cases of X BV and Facet BV/Facet Trading BV.
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Global indirect tax news update - June 2011
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