BDO Indirect Tax News - Issue 1/2022

Welcome to the January 2022 issue of BDO’s Indirect Tax News. We start off the year with a robust line-up of developments and insights from around the globe.  

BDO Indirect Tax News focuses on issues of practical importance in the field of VAT and similar indirect taxes, such as GST. Experts from all over the world provide first-hand information on recent developments in legislation, jurisdiction and tax authorities’ opinions and directives.

In this edition: 

• INTERNATIONAL:
  • The fall and partial rise of US-EU trading relations
  • Indirect tax bytes
• THE EUROPEAN UNION:
  • Reduced VAT rate rules updated
  • CJEU rules Hungary must allow pharmaceutical company to deduct VAT on sales
  • Practical impact of the new definition of “exporter” for customs purposes
• ARGENTINA: Federal online gambling tax levied as indirect tax on betting
• ARMENIA: Nonresident providers of electronic services subject to VAT
• AUSTRIA: Tour Operators Margin Scheme extended to B2B supplies
• ECUADOR: President granted authority to reduce the VAT rate for the tourism sector
• INDIA:
  • Supreme Court bars taxpayer from GST refund claim
  • AEO program enhances supply chain security, facilitates trade
• INDONESIA: VAT rate increase and other changes to VAT rules
• ITALY: Tax authorities issue ruling on right to deduct VAT due on imports
• JAPAN: Update on new JCT invoicing system and commencement of registration procedure
• THE NETHERLANDS:
  • VAT on restaurant and catering expenses may be deduced when costs are passed on
  • VAT exemption for management of collective investment funds expanded
• NIGERIA: Guidance issued on simplified VAT compliance regime for nonresident suppliers
• SINGAPORE: GST to be levied on imported low-value goods
• SPAIN:
  • Spain approves legislation on mandatory e-invoicing requirements
  • GST to be levied on imported low-value goods
• SRI LANKA: VAT concessions granted for IT and enabled services
• UNITED ARAB EMIRATES: FTA issues guidance on input tax relating to mobile phones