New Italian VAT measures on Inward Processing Relief

A law that introduces changes to the Italian value added tax (VAT) provisions - specifically concerning “inward processing relief” that is available for certain intra-EU transactions - came into force on 18 August 2015.

Swiss VAT updates: Filing VAT returns online

Switzerland has joined the club of the VAT returns online filing countries. As of September 8, 2015, VAT returns can be filed online on ESTV SuisseTax.

Facts and challenges of the AML-Revision

The adaption to the recommendations of the FATF required the most comprehensive revision of the Swiss Anti Money Laundering regulation since 1998. Based on the amended Anti-Money Laundering Act (AMLA), FINMA fully revised the FINMA Anti-Money Laundering Ordinance (AMLO-FINMA). AMLA and AMLO-FINMA will enter into effect on 1 January 2016.

Is an Indian PAN still required?

An Indian Tax Tribunal has recently held that a taxpayer – making payments to recipients that did not have a PAN (Permanent Account Number) – correctly applied the withholding tax rate according to the double taxation treaties but not as per domestic law. However, PAN regulations are still in force.

Impact of the Swiss new accounting law on trading companies

On 23 December 2011 the Swiss Parliament enacted the new accounting law, which became effective on 1 January 2013. The new accounting law includes some changes that are relevant for commodity trading companies, particularly with respect to the application of valuation principles.