WTS Newsletter

Aufgrund des Angriffskrieges Russlands gegen die Ukraine wurden in den vergangenen Tagen zahlreiche restriktive Maßnahmengegen die Russische Föderation erlassen. Weiterhin wurden die bestehenden Embargomaßnahmen gegen Belarus aufgrund der Unterstützung des russischen Militärangriffs erweitert. Die aktuellsten Entwicklungen haben wir Ihnen aus exportkontrollrechtlicher Sicht zusammengefasst.

• Austria: Customs law thwarts VAT law
• Belgium: E-commerce: Belgium changes VAT rules on importer of record
• Brazil: Brazilian Superior Court of Justice defines the calculation of penalty and interest on drawback
• Brazil: Ex-Tariff saved from extinction
• China: Major updates in China customs
• France: The Goods and Services Tax Code – (A way to clarify the applicable rules!)
• Hungary: Changes to customs administration in Hungary
• Italy: Importer not established in the EU – operative clarifications
• Senegal: The recent customs reforms of 20 December 2021
• Singapore: Asia’s FTA Spree: benefits galore for businesses but caveat emptor
• Sweden: Swedish Import VAT – Is Swedish Customs the competent authority?
• United Kingdom: National Security and Investment Act
• United Kingdom: Brexit 2022 update
• United States: Outcome of “De Minimis” will have Major Effects on E-Commerce Importations and the US FTZ Program
• Vietnam: Import of software to Vietnam

Brazil: Ex-Tariff on the brink of extinction
China: Major updates in China Customs
France: Customs administration – French cultural exception?
Italy: The importer is almost always responsible in case of an untrue certificate of origin
Mexico: CFDI with consignment note complement
Pakistan: Pakistan Single Window (PSW)
United Kingdom: EU export controls on dual-use goods: the latest update
Vietnam: Duty–free goods imported for export production and processing

Brazil I: Customs Controls to Curb Red Tape
Brazil II: Brazil issues regulation to combat customs fraud
China: Major updates in China Customs
Italy I: Simplifications for authorisation to the “approved place for export”
Italy II:Simplified procedure for relief from the import duties of reimported goods
Mexico I: Changes in customs compliance regulations
Mexico II: New Framework as of 2020 & 2021
Mexico III: New Free Zone in Chetumal, Quintana Roo
Portugal: Brexit implications on customs
Ukraine: New Rules on Authorised Economic Operators Implemented in Ukraine
Vietnam: Vietnam’s implementation of the EU and Vietnam Free Trade Agreement (“EVFTA”)

Regions

Asia Pacific: Regional Comprehensive Economic Partnership (RCEP): the world’s largest Free Trade Area and business opportunities in the Asia Pacific region

European Union: E-commerce and new provisions on low-value consignments

Additional country news

China I: China Export Controls 2.0

China II: China launches four free trade zones

Malaysia: ASW – A game changer for ASEAN trade and Customs clearance

Philippines: The Philippines Implements its “Strategic Trade Management Act” (Republic Act No. 10697)

USA: America’s New US President and International Trade: 5 Feb. 2021

• Hot topic: ECJ landmark decision in the case C-545/19 (AEVN) dated 17 March 2022
• Hot topic: OECD Commentary on Pillar Two
• Austria: Supreme Administrative Court on foreign Trusts
• Belgium: New fund type – Belgian ELTIF & WHT reclaim
• China: Change in taxation of equity investments
• Czech Republic: New Czech government & increase of interest rate
• France: Tax measures on gains from the sale of digital assets
• Germany: Economic ownership and securities lending & WHT on crypto fund units
• Netherlands: Government proposal to curb dividend stripping
• Poland: Supreme Administrative Court on beneficial ownership & Indirect transactions with tax havens
• Sweden: WHT for pension funds & VAT treatment of interchange fees in Sweden
• UK: HMRC on Implementation of Pillar Two, ISA compliance and Uncertain Tax Treatment & Review of UK funds regime

Recent EU developments with respect to WHT
Argentina: Tightening of the foreign exchange control framework, increase of Corporate Income Tax, taxation of crypto currencies, & Supreme Court decision on interest deduction
Austria: Draft bill on new Austrian tax regime for crypto currencies published  
Czech Republic: Act on Investment Companies and Investment Funds & Green Tax  
Finland: CJEU Advocate General Opinion (C-342/20) on tax exemption criteria designed for contractual funds & Changes to the interest deduction limitation rules 
France: VAT option for banking and financial services (draft bill) 
Germany: Impact of recent Coalition Agreement on the FS industry, Revised CFC rules & Introduction of check the box regime 
India: Taxation of Dividend income 
Ireland: The taxation of crypto currency in Ireland 
Netherlands: Court decisions on German real estate investment fund with Dutch real estate income & Dividend tax refund for UK pension fund 
Poland: Polish Deal – selected WHT issues (incl CIVs) 
Slovenia: Taxation of crypto currencies 
Sweden: Proposed tax on credit institutions & Postponement of new WHT Act 
Switzerland: Reform of Swiss WHT regime & New legal framework on implementation of international tax agreements 

Germany: Introduction of crypto fund units
Austria: New CJEU decision on VAT exemption
Belgium: Investment funds and the new annual tax on securities accounts
Denmark: Fidelity Funds and 24 June 2021 Supreme Court (Update) – Beneficial ownership – Tax Havens
Finland: Government Budget Proposal – Supreme Administrative Court on taxation of carried interest
Germany: Administrative guidance on securities lending transactions
Hungary: New taxation rules for crypto assets
Ireland: Share Schemes in the Irish Tax System
Italy: Tax exemption on interest from medium / long term loans paid to foreign investment funds – Tax regime of interests on loan granted to Italian tax resident persons by non-resident banks
Luxembourg: Refund of Luxembourg dividend WHT and proof of beneficial ownership
Poland: Polish Deal – WHT scheme, holding companies and VAT option
Switzerland: Substantial reform of Swiss WHT and Stamp Tax

WHT reclaim – CJEU Case C-545/19 (“AEVN”) – Update
Belgium: New annual tax on securities accounts introduced
Czech Republic: Taxation of capital gains of German and Liechtenstein tax residents
Denmark: Danish High Court (Landsretten) issues two rulings in beneficial ownership on dividends
Finland: Taxation of crypto assets
France: The new French-Luxembourg tax treaty: comments from the French tax authorities
France: Consequences of the Brexit on direct tax in France
France: E-Invoicing & E-Reporting obligations in France
Germany: Upcoming legislation on crypto assets, new fund types, WHT reclaims and ATAD
India: Tax incentives set to attract global investors
Encashment Tax in Ireland – a recent amendment
Italian tax exemption on dividends paid to foreign investment funds
Luxembourg: New guidance on DTT mutual agreement procedure
Dutch Supreme Court of 9 April 2021 regarding Dutch dividend WHT refund claims
Polish WHT landscape – uncertainty and abeyance since 1 January 2019
Spain: Supreme Court on WHT exemption for sovereign wealth funds
Sweden: Crypto assets
Spring 2021: Reshaping UK‘s tax landscape

• Austria: Change in the VAT treatment of rental revenues of foreign property owners
• Belgium: VAT registration with a fiscal representative, new rules on guarantees
• France: Changes in sight
• Germany/EU: Changes to Intrastat reporting
• Hungary: VAT changes from 2022
• Italy: E-invoicing via SDI extension
• The Netherlands: Developments for investment funds and VAT fiscal unities
• Poland: Voluntary e-invoice as of 1 January 2022

Further countries

• China: Changes to indirect tax surcharges
• Kingdom of Saudi Arabia: Changes to VAT, invoicing and customs charges
• Singapore: Expanding the scope of application of GST
• Ukraine: New VAT regulations taking effect in 2022

EU Member-States

Austria: Higher court confirms the granting of interest for overdue VAT credits
France: First flavour of the planned ambitious e-invoicing and e-reporting reform
Germany I: Sale of admission tickets for events, non-objection regulation
Germany II: Postponed: warranty commitments granted for remuneration as insurance transaction
Hungary: eVAT – What does the new draft eVAT return mean for taxpayers?
Poland: Further changes in the Polish VAT Act
Romania: Implementation of the Standard Audit File for Tax (SAF-T)

Further countries

Ukraine: Taxation of motivational fees

EU Member-States

Austria: Tax trap with Value Added Tax assessment
France: Facilitating the reporting obligations of foreign operators
Germany I: Warranty commitments granted for remuneration as insurance transaction
Germany II: Supervisory board members as taxable persons
Hungary: Online invoice reporting and self-billing
Italy: Input VAT refund via web portal
Poland: VAT group treatment

Further countries

Nigeria: Validity of the VAT Act
Ukraine: Taxation of digital services

EU Member-States

Denmark: Requirements for foreign businesses registered for VAT in Denmark
Germany I: Work deliveries – update
Germany II: ECJ case “Danske bank” and its potential effects on German VAT landscape
Hungary: 5% VAT on new residential properties
Poland: E-invoices as a new solution in the Polish law
Portugal: Update on the reverse charge mechanism for non-resident taxpayers
Spain: Pre303 – a service for everyone

Further countries

Chile: Simplified tax regime for digital services
Kingdom of Saudi Arabia: Tax exemptions for the Special Integrated Logistics Zone entities

Bundesverfassungsgericht hebt BFH-Urteil vom 27.2.2019 – I R 73/16 – auf

Europe

• Austria: No annual CbCR notification required since 1 January 2022
• Czech Republic: The Czech Supreme Administrative Court’s thoughts on related party definition
• France: The RKS case: shades of nuance in TP by the French Supreme
• Administrative Court
• Germany: New case law on the determination of arm’s length interest
• rates for intercompany loans
• Ireland: TP Compliance requirements in Ireland
• Italy: New rules on TP documentation
• The Netherlands: Netherlands disallows unilateral downward TP adjustments
• Poland: Polish regulations on “indirect” transactions with tax havens
• Portugal: Amendments to Transfer Pricing legislation
• United Kingdom: Outcome of the UK consultation on TP documentation  
• Ukraine: Ukrainian Ministry of Finance clarifies new TP rules on business purpose
   

Further Countries

• Brazil: Effects of extinction of LIBOR rate to Brazilian TP controls
• China: Deduction of interest charged by related parties  
• New Zealand: New BEPS disclosure guidance and preparation forms
• Taiwan: Taiwan CFC rules will be implemented as of 2023 in response to the Global Minimum Tax

Europe

Austria: New Austrian Transfer Pricing Guidelines 2021
Belgium: Belgian Transfer Pricing court case: a rare occurrence
France: The Engie Case: an ambitious new approach by the French Tax Administration
Germany: German Federal Ministry of Finance: Administrative Principles 2021 on Transfer Pricing published
Germany: Recent changes on German Tax Law concerning Transfer Pricing
Ukraine: State Tax Service intensifies TP control

Further Countries

Argentina: Transfer Pricing developments in Argentina
Benin: Transfer Pricing Update Benin
Chile: Migration of the approach of the Chilean Revenue Service to segments with greater fiscal impact
China: Responses to practical questions on the Transfer Pricing implications of the COVID-19 impacts15
Nigeria: Transfer Pricing Update on Nigerian TP case
Senegal: Implementation of Action 12 of BEPS project: a strengthened internal tax system
Taiwan: Supreme Administrative Court decides on one-time Transfer Pricing adjustments
Thailand: TP legal framework and practical insights
United States: The US’ role in global adoption of Pillar 1 and Pillar 2 / ongoing conversations in the US on tax reform / a status update on US tax reform
Vietnam: Transfer Pricing Update Vietnam

Europe
Austria: New Austrian Transfer Pricing Guidelines 2020
France: Self-financing through intangible assets or how to generate significant tax savings
Germany: German Federal Ministry of Finance: Administrative Principles 2020 published
Hungary: Pandemic does not stop TP audits in Hungary
Italy: New Rules on the Transfer Pricing Documentation
The Netherlands: Proposed limitation to Dutch unilateral downward adjustments
Poland: New documentation requirements for transactions with tax havens as of 1 January 2021
UK: UK Consultation on Transfer Pricing Documentation

Further Countries
Argentina: Mandatory Disclosure Framework and Transfer Pricing
Brazil: New ‘Local File’ Requirements in Brazil
Chile: Recent cases on TP – Chile vs Avery Dennison Chile SA (FY 2012)
China: China releases public consultation paper on simplified unilateral APA procedures
Ghana: Ghana introduces new Transfer Pricing Regulations
India: Transfer Pricing Update India
Senegal: Latest Transfer Pricing tax reform implementing Action 12 of the OECD BEPS project
Vietnam: The regulations on the Advance Pricing Agreement (“APA”) and its modification

Europe
France: Proof of the interest rate applied between related companies
Spain: Transposition of directive 2017/1852, of the council of 10 October 2017, relating to the integration of mechanisms or the resolution of tax disputes in the European Union into Spanish domestic law
Sweden: New guidance on financial guarantees
Ukraine: New business purpose test in Ukrainian tax law

Further Countries
Argentina: Argentina adds new transfer pricing documentation requirements for operations with intermediaries
Chile: Adoption of new transfer pricing requirements: master file & local file
Costa Rica: Transfer pricing update for Costa Rica
India: Updates on the Mutual Agreement Procedure (MAP)
China publishes annual APA report
Nigeria: Averting penalties on TP transactions by means of proper TP compliance
Senegal: The Multilateral Convention of OECD BEPS project: Senegal’s position and its impact on its bilateral DTTs
Taiwan: Draft amendments to transfer pricing assessment rule
Vietnam: New decrees on transfer pricing