In September 2018, Indian authorities ruled that a certain local supplier was providing marketing, sales-promotion and post-sales support services that could not be considered passive marketing activities. Many corporate groups doing business in India will need to reevaluate their indirect tax positions in light of the recent ruling.
India recently voted to replace its labyrinthine federal and state taxes with a single tax on goods and services.The implementation of the new GST regime will require businesses operating in India to overhaul their current indirect tax processes. Most companies have not yet prepared for the tax.
This week's Global Glance looks at why financial institutions are scrambling to protect themselves against SWIFT malware; China's new restrictions on nonprofits; and China's transition to VAT.