Global indirect tax news update - August 2012
There is an update on Congressional activity regarding the authority to collect sales tax.
Excise tax rates for vehicles are being increased.
The Australian Taxation Office has published details of the GST compliance issues it will focus on during the current financial year, and an Administrative Appeals Tribunal decision paves the way for businesses in the road transport sector to claim increased fuel tax credit entitlements.
The timetable for the expanded VAT reform pilot program in eight provinces/cities has been announced.
There have been some amendments to service tax and court rulings on VAT.
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.
Changes have been made to VAT penalties, and the payment for the import deferral license will be removed.
Two EU groups, Working Party No 1 and the Group on the Future of VAT, have been merged into one permanent expert group, named the "Group on the Future of VAT."
To enable member states to respond more quickly to VAT fraud, the European Commission has proposed a "fast track" anti-fraud process.
The VAT rate will increase on 1 September 2012.
Changes have been made to the VAT credit reclaim and filing procedures for suppliers to frequent exporters.
Transitional GST rules for long-term contracts expired on 16 August 2012.
Foreign entities importing goods into Poland to further transport them to another EU member state will be able to appoint a tax representative in Poland instead of having to register for VAT purposes.
The tax authority has issued new guidance on the place of supply of "land related" services.
Visit the Global Indirect Tax News archive for issues from the past year.