Goods and Services Tax has been enforced one year since its implementation on 1 April 2015. In the early stages of the transitional period in implementation of GST, the Royal Malaysian Customs Department (RMCD) encountered many challenges. Nevertheless, GST regime is now smooth and fairly well accepted by businessmen and people. In early May 2016, RMCD with ultimate responsibility for…

 The Korean tax authorities issued guidance on 17 February 2016 regarding the upcoming requirement for domestic companies to withhold income tax from the salaries of certain foreign employees seconded to a Korean company. Currently, a foreign secondee to Korea whose employment costs are not borne by a Korean entity is not subject to income tax withholding. Instead, the individual must…

1.“Normal” deliveries within the European Union One goal of the European Union is free trade. As VAT could be a barrier, the delivery of goods from one EU Company to a company in another EU country is exempted from VAT. Example 1 To receive an exemption from VAT some regulatory requirements have to be met. Besides other information like the…

Permanent Establishment Bahrain: The definition of “permanent establishment” also includes a building site or construction or installation project or any supervisory activities in connection with such site or project constitutes a permanent establishment only if it lasts more than 12 months (definition in compliance with OECD   model). Ethiopia: The definition of “permanent establishment” also includes a building site or construction…

The Reanda International network is pleased to bring to you the latest issue of PRISM – the quarterly tax newsletter, which is part of Reanda’s effort to stay in touch with our clients by sharing updates and insights on the recent taxation changes and current hot topics. Please click here to download a digital copy of the 2nd quarter 2016…

Part One: Appropriate choice of taxpayer identity Based on  the  scale  of  operation  and  the  sound level of accounting systems of payers, taxpayers are categorised into general VAT taxpayer and small-scale VAT taxpayer. The general taxpayers shall apply general tax law; while the small-scale VAT taxpayer shall apply simple calculation methods.  In accordance with the Tax File Number 36 [2016],…