• Indirect Tax News - Issue 1/2018

Indirect Tax News - Issue 1/2018

16 March 2018

Original content provided by BDO Mexico

Currently, goods supplied by non-resident entities to Australian consumers or businesses do not attract GST (10%) where they are valued at less than AUD 1,000. However, from 1 July 2018 onwards, where the goods are supplied to an ‘Australian consumer’ (an individual or entity that is not registered or required to be registered for GST in Australia), overseas based merchants will be required to remit GST on the goods where their annual turnover exceeds the AUD 75,000 registration threshold.ContentsAUSTRALIA: Paying GST on low value imported goods on the horizonARGENTINA: Argentine tax reform on indirect taxesCYPRUS: VAT changes related to immovable propertyTHE GULF CO-OPERATION COUNCIL STATES: Update on introduction of VATINDONESIA: Update on VAT exemption on basic necessity goodsITALY: Electronic invoicing and other budget changesLATVIA: Domestic reverse charge mechanismLUXEMBOURG: “Land-related” services in Luxembourg – Liability to VAT registerTHE NETHERLANDS: Ajax in the VAT-champions league! No selective application of reduced VAT rate for a single supply comprised of two distinct elementsNORWAY: Update on VAT rates and on treatment of transaction costsROMANIA: CJEU decision on the right to deduct VAT on acquisitions made from inactive taxpayersSINGAPORE: 2018 Singapore budgetSLOVAKIA: Significant changes to the Slovak VAT ActSOUTH AFRICA: VAT liability for leasehold improvementsSPAIN: Changes in the VAT refund regime for travellers / VAT exemption on management services provided to collective investment fundsSWITZERLAND: Radio and Television (RTV) feeUNITED STATES: Remote seller nexus and compliance update