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Vat 99-1/final

for small farmers. Article 25 provides for a flat-rate com- and the date the right to a deduction arises will coincide.
pensation to enable flat-rate farmers to offset at a fixed Thus, taxpayers will be able to reclaim the VAT on rate the value added tax charge on inputs. The compensa- imports of goods and the VAT accounted under the tion rate is fixed by Member States on the basis of macro- reverse charge mechanism on services supplied in Hun- economic statistics. The rate fixed may not be used to give gary by a non-resident person in the same tax period when farmers a higher refund than the amount of the value the VAT becomes due. This provision is designed to added tax charges on inputs. However, Member States may reduce such compensation rates to a nil rate. The Asset transfers in the course of a company reorganization compensation to Greek flat-rate farmers is paid through a will not be subject to VAT for companies that are dis- refund by the state. The small farmers may according to solved without liquidation, i.e. with a legal successor, pro- Article 25 opt for the normal VAT scheme. Against this vided the legal successor will use all the acquired assets in background there is no justification for the Commission to examine with Greece the issue of refund for the period inquestion.” Under a special refund system, which will be regulated OJ C 402 of 22 December 1998, p. 37.
under a government decree, individuals who build a newhome or dwelling will be entitled to reclaim VAT up to Reduction of VAT due on repairs to religious buildings HUF 400,000 per home, provided at least five individualslive in the new home.
“Would the Commission support a call for the reduction ofthe rate of VAT levied on repairs to buildings used for reli-gious purposes from 17.5 % to 5 %?” Answer: “Under current Community value added tax(VAT) legislation, Member States are not allowed to al- VAT developments
locate repair, renovation and maintenance of churches andreligious buildings to a reduced rate of VAT. A Commis- The government has issued regulations (Cabinet of Minis- sion proposal on the harmonisation of VAT rates, which ters Regulations 1998/343) on refunds of VAT levied on will possibly tackle the question put by the Honourable retail purchases by non-resident individuals. Under the Member, is currently being prepared. In this context, the system, which will become effective on 1 July 1999, the idea of attributing a reduced VAT rate to repair, renova- refund will be made by special licensed operators to trav- tion and maintenance of historic buildings and churches ellers who have purchased goods with a total value exceeding LVL 100 (exclusive VAT). A retailer partici-pating in the system must be a taxable person for Latvian OJ C 402 of 22 December 1998, p. 147.
tax purposes. He is to include the VAT charged in hisVAT return. Since the operator invoices the retailer for theVAT refunded, the retailer must reimburse the operator for the VAT refunded, but may claim the amount reimbursedin his VAT return.
VAT changes for 1999
Effective retroactively as from 1 January 1998, capital The parliament adopted the changes indicated below to the losses on the sale of securities are not deductible in com- value added tax on 12 November 1998. The changes are puting taxable profits under the Business Income Tax Act.
designed to simplify the system and reduce the adminis- The losses, however, may be carried forward in the fol- lowing five taxable periods and, during that period, be off-set against capital gains on disposals of securities.
A new product identification system compatible with thatof the European Union has been introduced. A zero rate As from 1 January 1998, donations to charitable, cultural, will apply to textbooks used by the public educational sys- religious, sporting, etc. organizations qualify for an tem and to a number of medicines and basic medical ma- increased deduction of 90% (previously 85%). The rule on terials. The development of gas and electricity works and a 90% deduction for donations to the Latvian Olympic construction continues to be zero-rated.
Committee and certain organizations was abolished.
Taxpayers are required to file a monthly VAT return if thenet VAT payable exceeded HUF 1 million in the year pre-ceding the tax year. Other registered taxpayers must file quarterly tax returns, while small and medium-sizedentrepreneurs whose annual turnover from taxable busi- Tax amendment bill for 1999
ness activities does not exceed HUF 3 million may file an The annual bill containing tax changes has been submitted annual VAT return (instead of quarterly returns).
to Congress. As usual, the changes affect, among other If goods and services to which the reverse charge mecha- nism applies are imported, the date the tax becomes due 1999 International Bureau of Fiscal Documentation New rules will be introduced limiting the amount of cred- belongs in Norway (independently of the status of the itable input VAT for taxpayers carrying out both exempt and taxable supplies and for taxpayers leasing goods to 2. Telecom operators established in Norway are not liable to charge VAT on telecom services if the recipient The time of supply for services will be changed. Liability to VAT will arise when the consideration is due or paid or The concept of reverse charge is unknown in Norwegian when the relevant invoice is issued, whichever occurs VAT legislation, and the proposal puts a registration bur- den on foreign operators independently of the status of the The zero-rate treatment for the suppliers of exporters will recipient. Accordingly, the proposal is more strict to for- be abolished so that the zero-rate will apply only to eign operators compared to the situation in the EU, where a reverse charge applies to taxable persons.
The supply of water will be exempt in all cases, regardless of the nature of the entity providing the service (currently, such service is exempt only when provided by certain pub- Advokatfirmaet Arthur Andersen & Co ANS, Oslo A provision will clarify that the transfer of certificatesconcerning rights on immovable property is exempt only PAPUA NEW GUINEA
if they refer to exempt immovable property.
Change of introduction date
Excise taxes (IPI) and other changes
As said in the November/December issue of the Interna- The excise taxes or IPI (Imposto sobre Produtos Industri- tional VAT Monitor, Papua New Guinea will introduce a alizados) on alcoholic drinks will apply only on the first VAT in 1999. However, the tax authorities decided that transfer. The tax will consist of (a) a minimum fixed quota the introduction will not be 1 January 1999 but 1 July payable at the bottling stage (which is creditable against the final liability) and (b) a rate applicable on the value,payable at the time of transfer. The rates will be reduced to52.3% (drinks with the highest alcoholic content), 23.3% (other alcoholic drinks) and 22% (beer and soft drinks).
Recent developments
Other changes include the introduction of two new taxes: The Ministry of Finance has issued new rules for the appli- a tax levied at 15% on telephone services; and cation of VAT Ordinance 3/1992. The VAT reverse a state consumption tax levied at 2% on the purchase charge will have to be paid on the earliest date between the of goods and services and the rental of movable goods date of payment for the services and 7 days following the by persons not engaged in business activities (final receipt of the invoice. The definition of “exempt services” has been changed, and the term “authorized banking enti-ties” is now explained as joint-stock banks registered inRomania. Therefore, it appears that branches of foreign banks operating in Romania should now seek the exemp-tion of their services under the rules on imported goods VAT and telecommunications services – proposal
circulated for comments
On 23 December 1998 the Ministry of Finance circulateda proposal for comments by interested parties. The docu- ment proposes to amend the current legislation withrespect to VAT and telecommunications services.
Flexible imposition of VAT
Under current legislation telecom services rendered by An official of the General Department of Taxation has foreign operators are not liable to VAT in Norway. Fur- announced that, to lessen the difficulties of businesses in thermore, telecom operators established in Norway are observing the Value Added Tax Law in early 1999, the liable to charge VAT on telecom services unless the ser- VAT applicable to the hotel, tourism and coal sectors will vices are exclusively used abroad. The current legislation has to a certain extent led to double and non-taxation.
In addition, businesses which buy materials (e.g. steelmaking bases which must buy waste iron from private Highlights of the proposal are the following: resources) and do not have certifications for VAT pay- 1. Foreign telecom operators are required to register for ments will still be able to claim input tax under Art. 10 of VAT purposes in Norway when the recipient of the service 1999 International Bureau of Fiscal Documentation

Source: http://www.empcom.gov.in/WriteReadData/UserFiles/file/1999-4.pdf

22 february 2013 horizon e-briefing

Weekly e Briefing: 22 February 2013 Welcome to the Commissioner’s weekly horizon scanning brief: 1. Legislation (Legislation, Home Office, APCC, press comments, reports and campaigns relating to strategy, policy and programmes) 2. Policing and crime key developments (relevant crime and criminal justice information and partners’ policy/reports/campaigns) 3. Reports (c

Microsoft word - pathakcv (2).doc

MAYANK S. PATHAK, M.D. CURRICULUM VITAE , EDUCATION: UNDERGRADUATE: Franklin and Marshall College, Lancaster, Pennsylvania B.A., Chemistry; Minor, Studio Art; 1987 MEDICAL SCHOOL: George Washington University, School of Medicine, Washington, D.C. M.D. 1991 TRAINING: RESIDENCY, NEUROLOGY: University of California, Irvine Medical Center; Orange, California, and V.A.

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