KPMG Week in Tax: 25 – 29 September 2023

• Australia: The Australian Taxation Office (ATO) registered two legislative instruments that allow taxpayers to correct fuel tax and goods and services tax (GST) errors for prior tax periods in specified circumstances.
• Korea: The Supreme Court held that raw pharmaceutical products provided free of charge under a purchase agreement were not “free of charge imports” as defined in Article 17(1) of the Enforcement Decree of the Customs Act, and therefore their customs value could be determined under Article 30 of the Customs Act.

• Austria: Recent tax developments concern value added tax (VAT), a withholding tax exemption, and the taxation of executive remuneration.
• Poland: The Regional Administrative Court in Wroclaw held that a delivery of goods as a result of fraud to a place from which they were stolen is not subject to VAT.
• Poland: The Advocate General of the Court of Justice of the European Union issued an opinion that Article 203 of Directive 2006/112/EC on the interpretation of the common system of VAT.

• Proposed regulations would provide guidance on how taxpayers will report liability for the excise tax imposed under section 5000D on manufacturers, producers, or importers of certain “designated drugs.”
• A hearing on proposed regulations relating to the reinstated excise taxes imposed on certain chemicals and certain imported substances (known as the Superfund chemical taxes) is scheduled for 25 October 2023.

State and local tax

• A report, prepared by the KPMG State and Local Tax practice, provides a summary of state and local tax developments for the third quarter of 2023 in table format.
• Missouri: The tax authority ruled that a food delivery platform was not required to collect and remit sales taxes on sales made to Missouri customers from in-state restaurants but could transfer sales taxes collected on behalf of the restaurants to the restaurants.

Source: KPMG