Issue 1 - January 2013

January 2013


Among other developments this month, of particular importance to US multinationals is the continued shift from direct to indirect taxes , as evidenced by the recent VAT rate increases in the Czech Republic, Cyprus, Finland and the Dominican Republic. Other noteworthy developments include the revised filing deadlines in Germany, invoicing changes in the UK and Hungary, and the European Court of Justice (ECJ) request for the Advocate General to apply his opinion rendered against Ireland regarding the inclusion of non-taxable persons in VAT groups, to cases involving other Member States.

The newsletter also highlights the following items of interest:

  • An Advocate General decision that considers outsourced investment management services to be VAT-exempt in the European Union
  • Website operators considered the main supplier of goods offered for sale by the German Supreme Court
  • Late payment penalties for tax payment by check in Germany
  • Financial Transaction Tax deferred start date and operational details in Italy
  • New VAT cash accounting scheme in Italy that is effective December 1, 2012
  • A new construction industry reverse charge effective January 1, 2013 in Spain
  • New regulation on temporary movements of goods in the UK
  • A ruling by the First Tier Tribunal that favors floor area based pro-rata for storage company in the UK
  • Transitional rules for consumption tax increase in Japan
  • Proposed simplification of VAT rates from January 1, 2013 in Columbia
  • Guidance that clarifies the scope of VAT exemption for insurance agents in Mexico

Contact us

Thomas Boniface
US Practice Leader, VAT
Tel: +1 (646) 471 4579

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