Europe
- UK: The Advocate General of the CJEU released an opinion finding that a UK VAT regulation providing that an online intermediary platform is, in principle, liable to pay VAT is valid.
- Germany: The Court of Justice of the European Union (CJEU) issued a judgment finding that a holding company that performs and purchases services subject to VAT that it subsequently contributes to its subsidiary has no right to recover the VAT on costs directly attributable to the contribution.
Americas
- Canada: Ontario Bill 2, which includes measures that concern the regional opportunities investment tax credit and the Ontario book publishing tax credit, received Royal Assent.
- Bolivia: The legislative assembly passed a law that reflects certain budget measures for 2022 including tax incentives and changes to the rates of excise tax.
Asia Pacific
- UAE: Excise tax guidance includes a new excise tax user guide for clearing companies, clarification EXTP008 about the calculation of financial guarantees for purposes of excise tax in designated zones, and minor changes to existing excise tax guides.
Trade & Customs
- The Bureau of Industry and Security (BIS) of the U.S. Commerce Department released a final rule that expands the existing sanctions against Russia and Belarus under the Export Administration Regulations (EAR).
Source: KPMG
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