Changes To The Tax Regime In Oman

In February 2017, significant changes were implemented to the corporate tax regime in Oman. The main amendments, which include an increase in the standard corporation tax rate and an extension of the withholding tax scope, are set out below.

The changes affect Oman taxpayers, as well as foreign companies without a local permanent establishment that receive certain types of income from Oman. In addition, the changes will also impact small and medium enterprises.
Key changes
Changes to […]

By |July 17th, 2017|

EU VAT Groups And Group VAT Settlement In Italy

Italy introduced a new VAT development in its 2017 Budget Law (Law 232/2016), borrowing from the regulations set forth in Art. 11 of Directive 2006/112/EC. The new legislation introduces the Title V-bis of Presidential Decree 633/72, regulating the institution of VAT groups; in essence, a group of taxable persons can act in the same way as a single person, but only if certain requirements are met.

The VAT Group is an alternative to, and should not be confused with, […]

By |June 26th, 2017|

EU VAT Regime Catching Up With E-Commerce

The European Commission is working hard to deliver a Cyber Monday-style deal of its own for value added tax (“VAT”) taxpayers trading online; the project is called “Modernising VAT for cross-border e-commerce.”

TMF Group expert, Johannes Laxafoss explains the European Commission’s Modernising VAT for cross-border e-commerce project and the main changes expected to make e-commerce traders’ lives easier in respect of VAT.

EU lawmakers realized the burden of the current regimes may be a serious obstacle […]

By |June 7th, 2017|