Global indirect tax news update - October 2011
An agreement has been reached between Canada and the Province of Quebec regarding indirect taxation.
A new law in California amending the rules for establishing whether a retailer is engaged in business in California for sales/use tax purposes has been rejected.
A GST refund should be made within 14 days from a taxpayer‟s request.
The pilot program for VAT reform will be launched in Shanghai as from 1 January 2012 and changes have been made to the Business Tax and VAT invoicing rules.
The tax authorities have clarified liability to Services Tax, e-filing is required for excise tax returns and courts have ruled on liability to Central Sales Tax under a turnkey contract and on the availability of an input tax credit where sales tax has not been paid.
The Malaysian budget for 2012 includes a number of indirect tax changes.
The European Commission has issued a proposal to introduce a tax on financial transactions.
A recent administrative decision on the private use of company assets entails higher VAT cost for businesses.
Changes are proposed to VAT rate on subscribed newspapers and periodicals, guidance has been updated on the VAT treatment of social welfare services and a court has ruled on the deductibility of costs relating to sale of forest estates.
The reduced VAT rate will be applicable to the supply of electronic books.
The tax authorities have clarified the application of the reverse charge on the supply of mobile phones.
Several amendments have been made to the VAT rate.
The application of the new standard VAT rate of 21% has been clarified, and other VAT changes introduced.
The tax authorities have changed their position on the issuance of tax numbers to foreign entities with branches in Poland.
The increase in the VAT rate applied to electricity and natural gas from 6% to 23% has entered in force, and other changes are expected in the structure of the VAT rates.
The government has decided to increase the VAT rate applied to electricity and natural gas in the Mainland.
The VAT rate applicable to housing renovation has reverted to the standard rate and guidance has been issued on triangular transactions.
United Arab Emirates
The United Arab Emirates plans to implement a VAT system within the next few years.
Several issues regarding UK VAT.
Visit the Global Indirect Tax News archive for issues from the past year.