Global indirect tax news update - June 2012
The Illinois “click through” nexus law has been found to be unconstitutional.
Beijing likely will postpone the introduction of the VAT pilot programme.
As from 1 July 2012, the taxation of services is based on a negative list.
Malaysia continues to move towards a GST regime.
The Assisted Compliance Assurance Programme will continue and there are new developments in the Major Exporters Scheme.
A recent circular provides that the declaration and calculation of VAT is not required in certain cases.
The VAT reverse charge now applies to electronic communication services and certain deliveries of gas and electricity.
The transition period for the introduction of documentation of intra-community transactions has been extended.
There are several updates on indirect taxation.
There have been changes to a number of VAT rules.
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.
Significant changes to the VAT rules will affect business operations.
Non residents may need to register for VAT in South Africa.
The budget changes on hot takeaway food and holiday caravans have been revised.
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