BDO Indirect Tax News | October 2024

BDO's latest Indirect Tax News publication once again brings together up-to-date views on the most significant changes in indirect taxation in different countries.

This October 2024 edition discusses, among other things, the challenges posed by the digital economy for businesses in different countries. For example, Switzerland is introducing new VAT rules for platform economy operators at the beginning of 2025. Peru and the Philippines will also introduce VAT/GST for digital services provided by non-established businesses.

Canada has introduced a new DST tax for e-commerce operators, which has already been challenged as discriminatory by the US. In Australia, reporting obligations are increasing as businesses are required to file new climate-related financial returns, and Norway now requires businesses to register electronically for customs and declare, which creates challenges in collecting the right data in a timely manner from different businesses.

In Finland, the general VAT rate rose from 24% to 25.5% in early September, with further changes to the reduced rates coming in 2025. 

Read more about all the news in our country-specific articles below. BDO experts around the world are at your service for all your indirect tax questions.

EMEA

• Spain: Supreme Court asks CJEU to rule on VAT deduction for client entertainment expenses 
• Italy: SPV can deduct input VAT incurred in MLBO transaction
• Norway: Digital reporting of information to customs before import of goods to be mandatory in 2025
• France: VAT regime for accommodation services clarified
• Finland: VAT Rates Increased and Reclassified
• Switzerland:
  • Platform Taxation to Apply as 2025
  • New VAT Law: Implications for small and medium-sized enterprises
• United Arab Emirates: Crypto and fund management services exempt from VAT
• United Kingdom:  
  • The Windsor Framework explained - VAT and duty implications 
  • EU CBAM - Taxing Future Carbon Emissions

Americas

• Argentina: Tax Rate on Certain Foreign Currency Transactions Reduced
• Canada: Mandatory CBSA Assessment and CARM Phase 2 registration and upcoming black-out period
• Colombia: Rules Governing the Electronic Equivalent Document Revised
• Mexico: Criteria for temporary importation of sensitive goods revised
• Peru: New tax on digital platforms introduced
• USA: 
  • Local Taxation of SaaS: Compliance Strategies and Potential Exposures
  • The Trade and Tax Issues Behind U.S.-Canada Digital Tax Clash

Asia Pacific

• Australia: Mandatory Climate-Related Reporting on the Horizon

International

• Indirect Tax Bytes