At the annual OECD Global Forum on VAT on 5-6 November 2015, representatives of more than 100 countries endorsed the new OECD International VAT/GST Guidelines, clearing out how governments should apply Value Added Taxes or Goods and Services Tax to the continuously rising volume of cross-border trade.
Effectively, the collection of VAT on cross-border sales takes place in the country where products are consumed.
The OECD International VAT/GST Guidelines set standards on VAT-neutrality and on destination-based taxation of cross-border sales of services to businesses (B2B) and final consumers (B2C) can be found at http://www.oecd.org/tax/consumption/international-vat-gst-guidelines.pdf.Back to News
Cyprus Self-Managed Alternative Investment Funds with Limited Number of Persons (AIFLNP) - Compliance Calendar Have you ever been in a situation where although you have the competency to perform a task you are unsure what the totality of the task might be? This situation can arise when numerous regulatory requirements are imposed on an organisation and further exacerbated by the almost exponential increase in the velocity of change of these requirements.Read more