Indirect Tax News - Issue 1/2018

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.

Contents

• AUSTRALIA: Paying GST on low value imported goods on the horizon
• ARGENTINA: Argentine tax reform on indirect taxes
• CYPRUS: VAT changes related to immovable property
• THE GULF CO-OPERATION COUNCIL STATES: Update on introduction of VAT
• INDONESIA: Update on VAT exemption on basic necessity goods
• ITALY: Electronic invoicing and other budget changes
• LATVIA: Domestic reverse charge mechanism
• LUXEMBOURG: “Land-related” services in Luxembourg – Liability to VAT register
• THE NETHERLANDS: Ajax in the VAT-champions league! No selective application of reduced VAT rate for a single supply comprised of two distinct elements
• NORWAY: Update on VAT rates and on treatment of transaction costs
• ROMANIA: CJEU decision on the right to deduct VAT on acquisitions made from inactive taxpayers
• SINGAPORE: 2018 Singapore budget
• SLOVAKIA: Significant changes to the Slovak VAT Act
• SOUTH AFRICA: VAT liability for leasehold improvements
• SPAIN: Changes in the VAT refund regime for travellers / VAT exemption on management services provided to collective investment funds
• SWITZERLAND: Radio and Television (RTV) fee
• UNITED STATES: Remote seller nexus and compliance update