Global indirect tax news update - September 2012 |
Americas
Uruguay
The tax authorities have issued a binding opinion on the VAT treatment of freight.
Asia Pacific
India
Indian courts have ruled on two cases, one regarding excise duties on goods sold below their cost of production and the other on whether there has been a transfer of the right to use goods.
Malaysia
Substantial changes are proposed to the GST Bill.
New Zealand
Substantial amendments to the GST Act have been introduced.
New Zealand
The law is being amended to ensure that amounts received by a New Zealand resident business from a nonresident insurer are not subject to GST.
EMEA
Italy
New rules apply to the cash accounting VAT regime.
Lithuania
The rules regarding VAT refunds to foreign passengers will be amended as from 1 January 2013.
Poland
The courts have ruled on the supply of fuel via fuel cards and changes to the VAT law are impending.
Portugal
The VAT rules regarding the supply of services and invoicing rules have been amended.
Romania
The fines for not maintaining strategic oil stocks have been increased.
Serbia
The standard VAT rate will increase on 1 October 2012.
Turkey
The tax authorities have issued a ruling on the VAT treatment of credit notes following transfer price adjustments and the rate of the Special Consumption Tax has been increased for certain products.
United Kingdom
HMRC has issued official guidance on the cost sharing VAT exemption.
Visit the Global Indirect Tax News archive for issues from the past year.
Global indirect tax news update - September 2012
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