Indirect Tax News - Issue 3

VAT was introduced in Egypt with effect from 8 September 2016, replacing sales tax, its previous indirect tax regime. The new tax law is part of an economic reform programme package aimed at reducing the country's budget deficit and is expected to increase tax revenue by around EGP 30 billion. In principle, VAT applies to all provisions of goods and services, other than some goods and services that are listed in an exemption table. This article highlights key provisions of the new VAT in Egypt.

Contents:

• EGYPT: VAT introduced in Egypt
• ARGENTINA: - Tax benefits for micro, small, and medium-size businesses
• BELGIUM: Simplification measure for proof of intra-community transport
• CANADA: Sales tax rate increases in three maritime provinces
• CHILE: VAT on real estate sales
• GERMANY: Input VAT deduction at risk?
• HUNGARY: VAT changes as of 2017
• IRELAND: VAT registration
• ITALY: Opinion of the Advocate General of the European Court on VAT Input Tax recovery in the Mercedes Benz Italy case
• LATVIA: Small transactions threshold decreased
• LUXEMBOURG: VAT on directors' fees - some clarity in Luxembourg?
• MALTA: Fantasy Sports and VAT
• THE NETHERLANDS: Mixing deductible proportion on mixed-use input goods and services
• PHILIPPINES: VAT under the new administration
• ROMANIA: VAT treatment of cross-border leasing transactions
• SINGAPORE: "Belonging" status of suppliers and recipients of services for GST purposes
• SLOVAKIA: Changes to reverse-charge and compensation for unpaid input VAT Deduction
• SOUTH AFRICA: The sugar tax saga continues
• SPAIN: Spanish regime for non-established taxpayer to defer VAT on import \ Acquisition of the head entity of a VAT consolidated group \ VAT deductibility on a share sale transaction
• UK: Brexit - the Indirect Tax implications
• USA: Sales and Use Tax: direct investment in the United States