Failure to recognize and address overseas VAT requirements can result in additional costs, unanticipated tax liabilities, potentially avoidable VAT registration obligations and severe penalties for non-compliance.
Asia is known for its large and thriving economies. With government reforms aimed at lowering the barriers to entry, doing business in Asia is increasingly a destination for companies looking to expand their business globally.
The EU, with effect from January 1, 2015, has introduced changes to the VAT payable on the supply of digital services (telecommunications, broadcasting and electronic)
In an expanding global marketplace, opportunities for expanding your business internationally have never been greater. Determining what the administrative and tax implications are when moving goods across borders within your supply chains can be confusing and time consuming.
As we count down to 2015, we can’t help but look back at last year’s most popular blog posts. From the World Cup this summer to the intricacies of a successful international expansion, these are the posts that our readers found most interesting and useful.
All companies that are subject to a tax audit and maintain their accounts electronically have been required to submit an e-file of accounting entries to the authorities
The government will discuss the contents of the 2015 Budget, as well as the 2015 Tax Plan, and finalize the items to be enacted on January 1, 2015
Subject to final approval by President Miloš Zeman, the changes will be effective from January 1, 2015
If approved by Parliament, the measures will be effective from January 1, 2015
From October 2014, a Russian VAT registered business will no longer have to provide non-registered tax payers (i.e. consumers) with full VAT invoices