Global indirect tax news update - March 2012
There have been amendments regarding the specific Consumption Tax on beverages.
A Bill allowing the Commissioner of Taxation to retain GST refunds long enough to verify the validity of a refund claim has been introduced into Parliament.
The Supreme Court has ruled on the VAT treatment of sales in duty free areas at airports.
The tax treatment of "tolls‟ has been clarified.
A Finnish court has issued a decision on the VAT treatment of parking spaces based on shareholding, and the tax authorities have clarified the application of the reverse charge mechanism on construction services.
A VAT rate increase is to take place in France and the reverse charge mechanism will be extended to electronic communication services and deliveries of gas or electricity.
The standard rate of VAT may increase.
There are several updates regarding Lithuanian indirect taxes.
VAT rates and excise duties will be increased in Madeira.
A VAT warehouse regime for electricity and gas physically located within the Netherlands is introduced.
The 2012 budget includes a number of indirect tax measures.
Visit the Global Indirect Tax News archive for issues from the past year.