At the end of August, the UAE’s Ministry of Finance released an official statement on progress regarding the introduction of corporate tax and value added tax (VAT). The statement confirms that the UAEis committed to launching direct and indirect tax regimes.
The Australian Tax Office has announced that GST will be chargeable on purchases from foreign websites. Initial estimates place the potential value of such a move at AUS$1 billion.
In this week's Global Glance we look at a Spanish case that may force a company to bottle Coke against its will, cracking down on illicit financial flows from Africa, and a travel jacket company that received $9 million in Kickstarter Funding.
In this week's Global Glance, we look at observations from the author of "China Rich Girlfriend," Canadian expats’ right to vote and whether we should care, and the Greek debt crisis.
Effective January 1, 2015, France now permits an optional value-added tax (“VAT”) reverse charge procedure. The announcement follows the successful implementation of the procedure in the Netherlands and Belgium, both of which have enjoyed greater levels of trade.
On 24 March, the UK Chancellor of the Exchequer presented the final budget prior to the country’s parliamentary general elections. We outline the key tax measures.
Nearly all countries charge some type of indirect tax on the local sale of goods or services. Understanding your company’s obligations and liabilities with regard to indirect taxation and devising effective tax compliance and mitigation strategies is an important ingredient in the success of an overseas endeavor.
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)