WTS Newsletter

Stand 04.08.2022, 16 Uhr: Aufgrund des Angriffskrieges Russlands gegen die Ukraine wurden in den vergangenen Wochen zahlreiche restriktive Maßnahmen gegen die Russische Föderation erlassen, soeben das siebte Sanktionspaket vom 21. Juli 2022. Weiterhin wurden die bestehenden Embargomaßnahmen gegen Belarus aufgrund der Unterstützung des russischen Militärangriffs erweitert. Die aktuellsten Entwicklungen haben wir Ihnen im Folgenden aus exportkontrollrechtlicher Sicht zusammengefasst.

Stand 09.06.2022, 16 Uhr: Aufgrund des Angriffskrieges Russlands gegen die Ukraine wurden in den vergangenen Wochen zahlreiche restriktive Maßnahmen gegen die Russische Föderation erlassen, soeben das sechste Sanktionspaket vom 03. Juni 2022. Weiterhin wurden die bestehenden Embargomaßnahmen gegen Belarus aufgrund der Unterstützung des russischen Militärangriffs erweitert. Die aktuellsten Entwicklungen haben wir Ihnen aus exportkontrollrechtlicher Sicht zusammengefasst.

Stand 08.03.2022, 11 Uhr: 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.

• China: Export tax rebate made easy
• Italy: The contrast between the digitalization of the bill of import and the requirements for deducting Import VAT
• United Kingdom: Brexit 2022 update – 2
• Vietnam: Goods labeling
• UK/EU: EU Sanctions developments on Russia/Ukraine
• Germany/EU: Restrictive measures against Russia and Belarus due to the war of aggression against Ukraine – Current developments

• 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”)

• Hot topic: European Fund Tax Law Conference in Dublin on 23 June 2022
• Argentina: Summary of recent tax news relevant to the FS industry
• Belgium: Luxembourg treaty exemption for the Annual Tax on Securities Accounts at risk?
• Finland: CJEU dated 7 April 2022 (C-342/20): Finnish WHT exemption in conflict with free movement of capital &
• Finland: Finnish Tax Administration reveals malicious companies set up for tax evasion “as a service”
• France: Intra-group interest – improvement for taxpayers
• Germany: Final administrative decree on crypto assets & Decision in ECJ case C-641/17 – “CPP” & Federal Tax Court on cum-/ex-transactions
• Italy: Tax ruling on WHT exemption and foreign investment funds (dated 30 March 2022)
• Netherlands: Expected changes and developments in Dutch tax legislation impacting the FS sector & News on the refund of dividend WHT
• Poland: Two Supreme Administrative Court decisions on cryptocurrencies and interest on overpayment
• United Kingdom: Changes to Economic Crime Act 2022 & Plans of HMRCs Business Risk Review & Crypto asset developments & Changes to the US Qualified Intermediary Agreement

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
Belgium: 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

EU Member-States

• The Netherlands: Broader interpretation of conditions for forming a VAT group
   

Further countries

• Chile: VAT changes for services  
• China: VAT measures to tackle business contraction  
• Gulf Cooperation Council countries: Update on VAT  
• Nigeria: VAT obligations of non-resident digital service providers  
• Vietnam: VAT rate reductions  

EU Member-States

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

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

Europe

• Austria: New Info from the Austrian Ministry of Finance – Mutual Agreement Procedure and Arbitration Procedure
• Denmark: Mandatory Submission of Transfer Pricing Documentation in Denmark during 2022
• France: The SAP Case: The Difficulty for Tax Courts when Handling Negative Interest Rates
• Hungary: TP Update
• Ireland: The Irish Position on the proposed ATAD3 Directive
• Italy: DAC6 Reporting: Year-End TP Adjustment
• United Kingdom: APAs, ATCAs and HM Revenue and Customs Statistics

Further Countries

• Argentina: Deemed Affiliation: Cross-Border Transactions with Low-Tax Jurisdictions
• Brazil: Plan for Brazil’s Accession to the OECD: Changes to Transfer Pricing Rules
• Chile: Practical Lessons learned from Transfer Pricing Audits in Chile
• China: First Chinese Customs and Tax Collaborative Transfer Pricing Management Mechanism
• India: The Indian Revenue’s Measures for effective Dispute Resolution
• Kenya: A Fundamental Shift in the Transfer Pricing Regime in Kenya
• Senegal: After joining the Multilateral Convention, a Step forward in the Fight against Tax Evasion & Avoidance
   

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