Law

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.
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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.
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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.
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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.
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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.
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