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ECJ Rules Against Portugal In Input VAT Credit Dispute

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, March 6, 2018

The European Court of Justice has provided a ruling against the Portuguese tax and customs authority in favor of a taxpayer who challenged the authority's decision that it should be retroactively precluded from deducting tax incurred on inputs in relation to a supply of leasing and letting transactions. The tax and customs authority required the taxpayer, Imofloresmira, to make adjustments to VAT deductions on the ground that the properties at issue had been unoccupied for over two years and were therefore regarded as no longer being used for the purposes of its own taxed transactions, even though, during that period, the company always had the intention of letting those properties and undertook the necessary steps to that end. Read Full Story

 


Think Tank Calls For Canadian Tax Reform

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 28, 2018

Canadian think tank the C D Howe Institute has published its recommendations for Tuesday's Budget, which include measures to compete with the US on tax. Read Full Story

 


EU Suggests Ireland Broaden Its Tax Base

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 21, 2018

The European Commission has published its latest post-bailout report on the Irish economy, urging the Government to broaden the tax base and be wary on relying too heavily on volatile corporate tax revenue. Read Full Story

 


China 'Has Slashed Business Taxes By CNY2.5tn Since 2012'

Mary Swire, Tax-News.com, Hong Kong

Tuesday, February 6, 2018

The Chinese tax administration has reported that businesses have saved CNY2 trillion (USD317.8bn) following the replacement of business tax with value-added tax, beginning in 2012. Read Full Story

 


IRS May Delay More Tax Refunds To Tackle Fraud

Mike Godfrey, Tax-News.com, Washington

Tuesday, February 6, 2018

The Internal Revenue Service has been successful in implementing processes to identify and prevent fraud but could do more to strengthen pre-refund verification, according to a new report from the US Government Accountability Office on last year's tax filing season. Read Full Story

 


Moscovici Discusses EU's Shrinking Tax Blacklist

by Ulrika Lomas, Tax-News.com, Brussels

Friday, January 19, 2018

EU Tax Commissioner Pierre Moscovici has said it is a positive thing that some of the countries on the EU's black list of non-cooperative tax jurisdictions have made commitments to change their tax laws. Read Full Story

 


Saudi Arabia Legislates To Absorb VAT On Education

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, January 12, 2018

Saudi Arabia's tax agency has set out the arrangements through which Saudi nationals will not bear the value-added tax that must be charged on education services under the Gulf Cooperation Council's harmonized value-added tax, which was introduced from January 1, 2018. Read Full Story

 


UK Lawmakers Discuss Potential Post-Brexit Free Zones

by Jason Gorringe, Tax-News.com, London

Wednesday, January 10, 2018

During a January 7, 2018, debate in the UK House of Commons, UK lawmakers discussed the country's plans to leave the EU, its customs union, and value-added tax area. Read Full Story

 


US Filing Season Starts January 29, 2018

by Mike Godfrey, Tax-News.com, Washington

Friday, January 5, 2018

The Internal Revenue Service has announced that the US tax season will begin on January 29, 2018, and sought to remind taxpayers claiming certain tax credits that refunds won't be available before late February. Read Full Story

 


Ireland's Small Firms 'Cautiously Optimistic'

by Jason Gorringe, Tax-News.com, London

Friday, January 5, 2018

Nearly two-thirds of Irish SMEs believe the business environment is improving, but Brexit and the increasing cost of doing business are dampening the mood, according to the Small Firms Association. Read Full Story

 

 

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