Global indirect tax news update - June 2012 |
Americas
United States
The Illinois “click through” nexus law has been found to be unconstitutional.
Asia Pacific
China
Beijing likely will postpone the introduction of the VAT pilot programme.
India
As from 1 July 2012, the taxation of services is based on a negative list.
Malaysia
Malaysia continues to move towards a GST regime.
Singapore
The Assisted Compliance Assurance Programme will continue and there are new developments in the Major Exporters Scheme.
Vietnam
A recent circular provides that the declaration and calculation of VAT is not required in certain cases.
EMEA
France
The VAT reverse charge now applies to electronic communication services and certain deliveries of gas and electricity.
Germany
The transition period for the introduction of documentation of intra-community transactions has been extended.
Italy
There are several updates on indirect taxation.
Lithuania
There have been changes to a number of VAT rules.
Netherlands
The reverse charge regulation is being applied to supplies of mobile phones and computer chips. The VAT rate is intended to increase from 19% to 21%, and a reduced VAT rate will apply to performing arts and works of art.
Poland
Significant changes to the VAT rules will affect business operations.
South Africa
Non residents may need to register for VAT in South Africa.
United Kingdom
The budget changes on hot takeaway food and holiday caravans have been revised.
Visit the Global Indirect Tax News archive for issues from the past year.
Global indirect tax news update - June 2012
(286.33 KB)
