Tax developments or tax-related items reported this week include the following.
Americas
- Canada: The Canada Revenue Agency (CRA) provided guidance to insurance intermediaries on whether their supplies are tax-exempt for goods and services tax / harmonized sales tax purposes.
- Dominican Republic: The Dominican tax authority (DGII) published a draft General Rule for public consultation on the appointment of withholding and collection agents for value added tax (VAT) and income tax.
Asia Pacific
- Australia: The government will be conducting a review of whether a carbon border adjustment mechanism (CBAM), or other carbon leakage policy options, are suitable for Australia.
- Philippines: The Bureau of Internal Revenue (BIR) introduced significant changes in the document requirements and procedures for VAT refund claim applications.
Europe
- Germany: The draft tax reform bill would introduce mandatory use of electronic invoices (e-invoicing) for supplies between domestic companies effective 1 January 2025.
- Denmark: Tax professionals in Denmark have observed a recent uptick in VAT audits initiated by the Danish Tax Agency (DTA) aimed at nonresident digital services providers.
- Denmark: Legislation introducing the computation of interest on corrections of VAT and excise duties for past periods became effective 1 July 2023.
- Poland: Legislation mandating e-invoicing beginning 1 July 2024 was published in the Polish Journal of Laws.
- Poland: Recent court decisions concern a tax on revenue from buildings; VAT treatment of a preliminary land sale contract; and tax on a social media barter contract.
- Switzerland: The tax exemptions for imported and Swiss-made electric vehicles (EVs) are expected to be repealed effective 1 January 2024.
Source: KPMG
