This publication provides timely updates on key indirect tax developments across the globe that are particularly relevant for US multinational companies. This month highlights e-invoicing and VAT rate and base adjustments.
This month's features:
- European Court of Justice disallows VAT exemption for discretionary portfolio management
- French VAT Répondant procedure is cancelled from October 1, 2012; VAT rate increase is cancelled
- Germany publishes e-invoicing simplification guidance
- Hungary requires additional VAT declaration January 1, 2013
- Spain publishes additional guidance on VAT rate increase
- United Kingdom issues amended policy statement for land related services
- Andorra announces introduction of a VAT system
- Russia expands scope of VAT exemption for financial services and publishes e-invoicing guidance
- Japan passes bill that provides JCT rate increase and JCT holiday limitation
- Canada publishes indirect tax changes for provinces
- Mexico amends the taxable base for voucher issuance services
