India recently voted to replace its labyrinthine federal and state taxes with a single tax on goods and services.The implementation of the new GST regime will require businesses operating in India to overhaul their current indirect tax processes. Most companies have not yet prepared for the tax.
On September 22, 2016, the Taiwanese Executive Yuan passed a draft bill to amend the VAT act on the cross-border sale of digital services.
The Brexit referendum will likely have significant implications for the UK's value-added tax system. Here are some important considerations to help you make informed VAT-related decisions as Brexit negotiations unfold.
International expansion presents a host of new challenges for a growing business. Determining what the Value Added Tax (VAT) implications are of operating internationally can be both daunting and time consuming.
In any tax system, a high level of certainty is required for both ease of tax administration and the efficient collection of tax liabilities. Likewise, for companies and their stakeholders, domestic and international tax-related certainty is a fundamental goal. The UK’s EU referendum and potential exit from the European Union represent serious threats to this desired stability. And the biggest challenge businesses will face from a potential “Brexit” will be negotiating the resulting uncertainty.
Andy Connolly at Radius told EcommerceBytes at the time that the UK initiative sought to close a loophole by requiring non-UK based merchants to appoint a tax representative within the UK in order to handle their UK-based VAT affairs.
This week's Global Glance looks at why financial institutions are scrambling to protect themselves against SWIFT malware; China's new restrictions on nonprofits; and China's transition to VAT.
In 2008 China began to reform indirect taxes to alter the bias between production and service industries. In a recent announcement, China’s Premier Li Keqiang stated that the final phase of the VAT reform would commence on May 1.
Today UK Chancellor of the Exchequer, George Osborne, announced the UK Budget for the year 2016/17. Here is a summary of the new Budget’s key measures.
This complimentary webinar will delve into the benefits of understanding how good Value Added Tax (VAT) planning can reduce confusion and save time when it comes to overseas operations.