VAT

News & Analysis as of

Dollar Financial UK Ltd v HMRC: When Must a Financial Intermediary Charge VAT?

Executive Summary - The decision in Dollar Financial UK Ltd v HMRC [2016] UKFTT 598 will likely be of interest to a range of participants in the lending market, and the financial services sector more generally, because...more

Major changes in the Polish VAT regulations as of 1 January 2017

On 16 November 2016 the Sejm (lower chamber of the Parliament) adopted a bill to amend the VAT Act and certain other statutory laws, calling for numerous changes in the VAT Act and the Criminal Fiscal Code, among other laws....more

Autumn Budget – Gambling Taxes » All-In

Freeplays - The Government has confirmed it will go ahead and bring the remote gaming duty treatment of freeplays in line with the less generous treatment of free bets under general betting duty. This will take effect...more

Saudi Arabia Update - November 2016

Special Labor Courts Launching Soon - The Ministry of Justice (MOJ) and the Supreme Judicial Council have finally stepped forward with launching the special labor courts in Saudi Arabia, which are expected to begin...more

Recent Developments in the Chinese Regulatory Regime Governing e-Commerce

The Chinese regulatory regime governing e-commerce has been constantly evolving as domestic and cross-border e-commerce continues its rapid growth. Recently, the regulatory environment has opened up in several ways:...more

Italian Revenue Agency Ruling on the VAT Regime to be Applied to the Availability Payments in the Concession Agreements

A recent ruling by the Italian Revenue Agency (Agenzia delle Entrate) has provided guidance on the correct VAT regime to be applied on the payments owed by the grantor to the concessionaire on the availability payment based...more

Development of court practice on tax disputes regarding accrual of VAT in connection with transfer of inseparable improvements of...

On 3 November 2016 the Commercial Court of Moscow delivered a decision in case No. ?40 167541/16 140 1462....more

Luxembourg Real Estate - Tax and Legal Developments

This brief report provides a summary of the most recent Luxembourg tax developments that currently affect and will be affecting real estate practitioners throughout 2017....more

Mexican government proposes tax incentives on IT services and R&D activities for 2017

As part of the 2017 economic budget and proposed tax reform, the Mexican government intends to incentivize a couple of activities that may be intertwined: first, by allowing information technology (IT) services to qualify as...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Luxembourg VAT authorities: Circular on VAT Treatment of Director Services - The Luxembourg VAT authorities published Circular n° 781 on 30 September 2016 regarding the VAT treatment of director services and a...more

Pensions Round-Up: September 2016 (UK)

In this edition we look at key developments from September 2016, including the following: The announcement of the Levy Estimate for 2017/18 and the publication of the consultation in relation to the levy rules; and a...more

EU court eases formal invoice requirements for input tax deduction

According to two milestone decisions in September 2016 of the EU Court of Justice (Senatex, case C-518/14 and Barlis 06, case C-516/14) formal invoice requirements for input tax deduction have been eased. Taxpayers should...more

Luxembourg VAT Authorities issue Circular n°7891 on VAT treatment of directors’ fees.

On September 30, 2016, the VAT authorities confirmed that VAT shall apply to directors’ fees. From a VAT standpoint, "any person who carries out in an independent and usual manner any economic activity, whatever the...more

The Luxembourg indirect tax administration confirms the VAT treatment of director fees

On 30 September 2016, the Luxembourg indirect tax administration (LTA) issued a circular n°781 confirming that director fees are subject to VAT (the Circular). As reported in our previous e-alert on this matter circulated in...more

Brexit: An Opportunity to Readjust UK Tax Policy?

The U.K. government mantra has for a number of years been: "Britain is open for business." This has been reflected in a number of areas relevant to U.K. domestic and foreign tax policy, including in a gradual reduction of the...more

Overview of Luxembourg Tax Developments - September 2016 - Issue 01

This report summarizes some of the main Luxembourg tax developments that took place between the end of 2015 and August 2016. The selected developments are mainly relevant to companies and the international tax...more

Amendments of CIT and PIT Acts in Poland

On 5 September 2016, the lower chamber of the Polish parliament (Sejm) accepted changes made by the Senate to the Act amending PIT and CIT. The Amendment Act has been sent to the President for signing....more

Outsourcing and the Value Added Tax: Mexico’s Third Circuit Reminds Employers to Consult the Federal Labor Law

On July 15, 2016, the Third Circuit Court on Administrative Matters, acting in plenary session (based in Jalisco), published a Judicial Interpretation titled, “Provision of Independent Services: In order to determine whether...more

China Tax Newsletter - May / June 2016

In this issue, we have covered a number of developments and cases in the PRC and Hong Kong which could impose legal and tax implications to your business. On the PRC side, following the national rollout of the...more

Romanian tax authorities go public on the first VAT fixed establishment assessment in the pharmaceutical industry

The Romanian tax authorities just issued a press release regarding an audit performed on the activity carried out by the local subsidiary of a multinational pharmaceutical group. The Romanian authorities claim that this...more

The Digital Single Market Strategy: One Year On

In May 2015, the European Commission announced its Digital Single Market Strategy to accelerate the creation of a digital single market (DSM) across the EU. The EU’s aim is to broaden access to e-commerce, media and...more

AccountingToday Article Provides Tax Primer: “Global Commerce 101”

Owners of small to mid-size U.S. businesses are finding the world is a smaller place, which can be very good for business. However, the opportunities of the international marketplace come with additional responsibilities,...more

New VAT regime for e-services

On 1 January 2017 the special VAT regime for "electronically supplied services" ("e-services") comes into effect, as introduced by Federal Law No. 244-FZ dated 3 July 2016....more

Anti-BEPS Ukraine style: de-offshorization initiative launches

Leakage of profits to offshore locations and tax evasion through aggressive planning has always been a hot topic in Ukraine. However, it must be said that, with the exception of the introduction of transfer pricing rules in...more

New rules for vat taxation of e-commerce services in Russia

On 3 July 2016 Russian President Vladimir Putin signed Federal Law No. 244-FZ introducing rules for VAT taxation of e-commerce services in Russia (Law)....more

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