![]() ![]() ![]() It is therefore recommended to always request a compliant invoice from service providers (suppliers).Īs a rule, an invoice must contain the following elements: Invoices must be prepared in compliance with the formal criteria imposed by law.Īn invoice (to a creditor/supplier/services) that complies with the formal invoicing criteria for VAT is generally eligible for input tax. SECO: State Secretariat for Economic Affairs.SERI: State Secretariat for Education, Research and Innovation. ![]() BWO: Bundesamt für Wohnungswesen (in German only).FCAB: Federal Consumer Affairs Bureau (in German only).DETEC: Federal Department of the Environment, Transport, Energy and Communications.EAER: Federal Department of Economic Affairs, Education and Research.DDPS: Federal Department of Defence, Civil Protection and Sport.FDJP: Federal Department of Justice and Police.FDHA: Federal Department of Home Affairs.FDFA: Federal Department of Foreign Affairs.And why not if you have the gold standard right at your door step. Seeking a rebalancing of supply chains to achieve better sustainability, as well as optimising trade agreements, will feature more prominently in the future. I’ve included an informative article on EU’s trade agreements. The future looks promising and other trade deals and activity can be modelled on this outstanding example. The latest FTA is a modern trade masterpiece and has been referred to as the Brussels gold standard - it endorses and embeds sustainability in the international trade framework with strong and enforceable commitments to protect the environment. The EU Parliament, today, also approved the EU-NZ free trade agreement (FTA). The EU is the world’s second largest exporter and also the second largest importer - China and the US are the other leading trading parties (refer below article). The main purpose of this post is to highlight the significance of trade agreements, which can generate economic growth and influence environmentally sound behaviour. This landmark reform will point the way and impact supply chains in the foreseeable future. There was a significant wave of environmental reform debated and, in virtually all cases (but one concerning pesticides), approved by the EU Parliament. More detail will come from PwC on the UN tax developments as well as VAT and ViDA. The votes by the EU Parliament - on VAT in the digital age (at least a one year deferral) and a widening of the VAT distance selling rules - were approved by big majorities. And … we also saw an historic vote by the UN paving the way for an international UN Tax Convention. Today has been a big day in the EU Parliament. International focus on trade agreements and tax reform Luxon announces coalition, split deputy role for Peters, Seymour This is emerging as a globally significant VAT/GST issue and officials in many parts of the world have invested significant effort in formulating the best approach. We look forward to more tax policy work and statements on this issue. The decision will be tied in with a mix of factors and tax revenue forecasts needed to run NZ in a preferred way. Under the NZ coalition agreements released publicly on Friday, one interpretation was that the AppTax would be booted ģ) The rise again of GST - HOWEVER … in a subsequent public statement linked below, the new PM Chris Luxon, suggested the government could choose to keep the AppTax. This law applies from 1 April 2024 and deals with an issue that is a central plank of the EU platforms VAT reform under “VAT in the digital age” Ģ) The fall of GST - the National party campaigned on repealing the AppTax as part of their overall tax package and stressed cost of living issues (indeed in Euro Parliament this week the potential for prices to increase under this new tax was floated). ride sharing and short term accomodation - as if the platform is the underlying supplier (so-called AppTax). On Friday this week (overnight Euro time), the final details of the newly formed NZ coalition government and the two key coalition agreements emerged.Ī key GST issue is in the mix as part of the overall tax package.ġ) The rise of GST - the last (Labour led) Government passed a law to impose full GST liability on a digital platform who facilitates services eg. NZ GST on platforms in the sharing economy - the rise, the fall and rise again of 15% GST ![]()
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