BRISTOL, England--(BUSINESS WIRE)--Nair & Co., the leader in international business expansion and support publishes HR, regulatory, taxation and company updates for the current week.
Austria Likely to Introduce Reverse Charge Tax Rules to Combat VAT Fraud
The Austrian Minister for Finance recently announced plans to combat Value Added Tax (VAT) fraud. The Austrian government is expected to introduce a reverse charge mechanism on a number of goods prone to VAT fraud. The new legislation will provide Austria with increased ability to minimize missing trader intra-community (MTIC) fraud and the theft of Value Added Tax (VAT) from the government, reports Nair & Co.’s International Tax team.
Czech Senate Accepts Amendments to Income Tax Law
The Czech Senate recently approved a special law measure to amend the Income Tax Law. Proposed changes under the new amendment may affect Research and Development (R&D), gift tax allowances, individuals’ income from securities and corporate income tax. There is also a proposal for a complete overhaul of civil and company laws making structuring more flexible.
Malaysia Proposes 2014 Budget
The Government of Malaysia has presented its budget for 2014 proposing replacement of Sales and Service tax with a Goods and Services Tax (GST). Other proposed provisions may affect income tax rates, capital allowances, hiring related expenses, real property gains.
Netherlands Presents an Amended Budget for 2014
The Dutch government has presented an amended budget to the parliament altering important provisions regarding tax rates, tax credits and payroll taxes.
Spain Introduces New VAT Cash Accounting Scheme and Changes to Certain VAT Deadlines
Spain has introduced a new Special VAT Cash Accounting Scheme designed to support entrepreneurs. The changes introduced by the new amendment will be effective 1 January 2014, reports Nair & Co.’s International Tax team. Similar schemes are enforced in other European Union countries; however this is completely new to Spain.
About Nair & Co.
Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com