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OECD released a request on feedback on ‘BEPS Action 1’ work
The Organisation for Economic Co-operation and Development (OECD) released a request for feedback on further work on ‘Base Erosion and Profit Shifting Action 1’, on addressing the international tax challenges raised by the digitalisation of economic activities. This request for input was released soon after ten EU countries, led by...
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EU e-Commerce news and information
e-Commerce has evolved rapidly as consumers’ appetite for simple and instant buying continues to grow. This means that regulators have been struggling to keep pace with these advancements. In particular the taxation of e-Commerce has presented significant challenges to governments and organisations around the world, with multiple regulatory obstacles slowing...
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Changes to Intrastat reporting system in Italy
by Anthony Kerr, getsix.eu, Wrocław, Poland 24 October 2017 Italy will implement changes to its Intrastat reporting system starting from 1st January, 2018. These simplifications were first scheduled for 2018, when a new quarterly VAT reporting regulation was introduced. Changes will include: The withdrawal of the quarterly acquisitions Intrastat, Monthly...
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France’s 2018 Budget – Reduced taxes and compulsory levies
by Anthony Kerr, getsix.eu, Wrocław, Poland 19 October 2017 In the 2018 Budget the French Government confirmed that taxes and compulsory levies will be reduced by around EUR10 billion (USD11.8 billion) next year. The Budget, released in draft format on 27th September, 2017, contains reductions in corporate tax, alterations to...
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VAT gap in the European Union
by Anthony Kerr, getsix.eu, Wrocław, Poland 17 October 2017 The EU recently announced the latest analysis of missing EU VAT (the ’VAT Gap’) from fraud, bankruptcies and poor administration, has fallen to €151.5 billion in 2015, comparing to €160 billion in 2014. The most recent estimation of unaccounted for VAT...
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The EU confront international tax challenges
by Anthony Kerr, getsix.eu, Wrocław, Poland 12 October 2017 On 16th September, 2017, in Tallinn, Estonia, the EU’s Economic and Financial Affairs Council (ECOFIN) met to discuss ways to confront international tax challenges posed by the digital economy. (Mr Toomas Toniste, Minister for Finance, Estonia) In early September, the Finance...
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Switzerland Tax News
Switzerland reforms VAT for overseas firms The Swiss parliament has formally agreed reforms to the country’s value-added tax (VAT) regime, these will make overseas firms obligated to impose VAT on all purchases and services. The aim is to safeguard Swiss firms from lower-priced competitors abroad. At present, online purchases from...
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