- Transfer pricing rules are extended to VAT on transactions between connected persons that are considered to be artificial or fictitious;
- New rules are introduced for importers of goods purchased via electronic or digital platforms from a non-resident supplier appointed by the Federal Inland Revenue Service to charge and collect VAT, including that the importer must provide proof of the non-resident’s appointment and registration and evidence that VAT was charged, otherwise VAT must be paid by the importer at the port of entry;
- The deadline to remit VAT withheld by companies appointed to do so is set to the 14th of the month following the month of transaction; and
- “Building” for VAT purposes is redefined to exclude any structure not permanently affixed to land for all or most of its useful life.
- ….
Source Orbitax
