Bi-annual VAT rate update in the EU member states
New rules will allow participating EU member states to seek private rulings related to cross-border VAT transaction disputes
Improves the framework conditions for operating a business
Eliminates many administrative burdens faced by new businesses and promotes new incentives
The European Commission has published the 2013 value added tax (VAT) rates imposed in the EU Member States.
In late August, Portugal introduced several important amendments to the VAT Code and its complementary legislation.
In a speech to Parliament on July 10, Spain's Prime Minister Mariano Rajoy announced a number of new taxes and spending cuts in an effort to cut 65 billion euros from the budget deficit by 2014.
Value Added Tax (VAT) can pose a number of thorny problems for US companies unfamiliar with the procedures involved, but taking control of your company’s VAT – including your reclaim opportunities - has never been more important.
As of November 1, the Ministry of Finance increased tax thresholds for both VAT and Business Tax as part of a long-term effort to reduce taxes on business across China.
According to a November announcement from the executive committee of China’s State Council, Shanghai will spearhead a pilot VAT reform initiative on January 1, 2012. The program is part of an effort to ease the significant problem of indirect taxation in China and incent the services industry (in particular) by reducing the tax burden.