Indonesia has issued a new regulation that provides for additional tax incentives in response to the coronavirus pandemic.
Italy's VAT split payment regime has been extended through 30 June 2023.
Indonesia has issued new regulations that call for the expansion of VAT to include cross-border digital transactions.
Ireland has temporarily decreased its standard VAT rate from 23 percent to 21 percent.
The Czech Republic has confirmed a reduced VAT rate of 10 percent on books, electronic books, and other digital publications.
Singapore is planning key updates to its data privacy law, bringing the country more closely in line with the EU, Australia, and other regions that have strictly regulated the use and sharing of online personal information. Multinationals doing business with the island nation should review their procedures for collecting and processing personal data to ensure they are in compliance before the changes become law.
On 16 July 2020, the European Court of Justice found that the EU-U.S. Privacy Shield fails to protect individuals’ rights to privacy. As a result, data transfers using the Privacy Shield mechanism are no longer GDPR-compliant.
The EU’s second-highest court overturned a 2016 ruling ordering Apple to pay Irish tax authorities 13 billion euros for receiving undue tax benefits. Multinationals should beware of taking the ruling as a sign the world of international taxation is reverting to an earlier era.
The new United States-Mexico-Canada (USMCA) trade agreement entered into force on 1 July 2020.
The UK has introduced a temporary reduced VAT rate of five percent for certain supplies of hospitality, hotel and holiday accommodations.
France has introduced a new law that requires social media platforms to remove hateful content from their platforms within one to 24 hours of being flagged by users.
The EU’s VAT e-commerce package is simplifying VAT rules on cross-border sales to EU-based customers. This post addresses the package’s final measures, which will affect the supply of services by both EU and non-EU businesses.