News & Analysis as of

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

What Does Brexit Mean for UK Tax?

Once the formal procedure under Article 50 of the Lisbon Treaty is initiated by the United Kingdom, the government will negotiate the terms of its exit from the European Union. Whilst we must accept that this is a period of...more

The reverse charge mechanism

DLA Piper's Tax team in Poland and the Association of Importers and Manufacturers of Electrical and Electronic Equipment - ZIPSEE "Digital Poland" have prepared a report on the tax consequences of the reverse charge mechanism...more

Import of raw materials and components for manufacturing of medical devices exempted from VAT

Federal Law No. 225-FZ on Amendments to Part Two of the Tax Code of the Russian Federation dated 30 June 2016 enters into force on 1 August 2016. According to the law, a VAT exemption is granted on import of raw materials and...more

Brexit Update: What’s Next for the Global Marketplace

In Depth - UK Withdrawal Process - The United Kingdom will continue to be an EU member until procedures are completed for exiting the European Union, which is likely to be a long process. Under EU Treaty rules,...more

President Signs Law Charging VAT on Services Provided via the Internet

On 3 July 2016 the President of the Russian Federation signed Federal Law No. 244-FZ on Amendments to Parts One and Two of the Tax Code of the Russian Federation (the “Law”), which enters into force on 1 January 2017....more

Energy Brexit: initial thoughts

In the energy sector, as elsewhere, it is far too early to give any definitive view on the effects of the UK electorate’s vote to leave the EU, or to offer a comprehensive analysis of the merits of the options now facing the...more

Brexit's Impact on the Insurance Industry

Following the UK’s historic vote to leave the EU, numerous questions have arisen, including whether the UK will really leave the EU and whether Scotland and Northern Ireland (both of which voted to remain in the EU) will have...more

What are the Tax Consequences of BREXIT for U.S. Taxpayers?

Recently, The Harvard Law School Forum on Corporate Governance and Finance published a note titled "The Legal Consequence of Brexit, authored by Simon Witty. We have restated the transactional tax commentary here. We have...more

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