September 2012 Edition

VAT News

Among many other developments in the newsletter this month, of particular importance is the introduction of a new UK VAT law for cost sharing agreements as well as further guidance on the Chinese VAT Pilot Program. The new UK VAT law offers guidance for independent businesses and organizations with VAT exempt and/or non-business activities that may wish to set up cost sharing arrangements to mitigate irrecoverable VAT costs. The guidance from China explains how the Pilot Program applies to international transportation services, certain services of qualified animation enterprises, shipping agency services, and operating lease services.



VAT News