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Malaysia Updates Tax Guidance For Digital Services Providers

Malaysia Updates Tax Guidance For Digital Services Providers
Malaysia Updates Tax Guidance For Digital Services Providers
by Mary Swire, Tax-News.com, Hong Kong
03 March 2021
Malaysia has comprehensively updated its guidance on the requirement on foreign service providers to collect service tax on business-to-consumer supplies of digital services.
The latest version of the guidance, "Guide on: digital services by Foreign Service Provider (FSP)", replaces earlier guidance last updated in August 2020.
FSPs were required to collect six percent service tax on B2C services from January 1, 2020. Under the regime, foreign services providers who provide digital services to consumers are liable to be registered as a foreign registered person (FRP) when the total value of digital business-to-consumer services in Malaysia exceeds MYR500,000 (USD119,200) in any year.

Malaysia , Hong-kong , Mary-swire , Service-tax , Digital-services-providers , Foreign-service-provider , Service-tax-act , Tax , News , Offshore , Tax-news , E-commerce

Singapore Explains Tax Filing Changes This Year

Singapore Explains Changes To 2021 Tax Filing Rules
Singapore Explains Changes To 2021 Tax Filing Rules
by Mary Swire, Tax-News.com, Hong Kong
03 March 2021
The Inland Revenue Authority of Singapore (IRAS) has said that it will be sending tax bills directly to certain taxpayers this tax filing season and will be simplifying filing arrangements for the self-employed.
IRAS is introducing a Direct Notice of Assessment (D-NOA) initiative for taxpayers on the No-Filing Service (NFS), which will mean that they receive their tax bills directly from May 2021. IRAS said that this is possible as more information is automatically included and tax reliefs can be pre-filled for taxpayers. Taxpayers can still object to the assessment if they wish to make changes to their reported income and relief claims.

Hong-kong , Singapore , Mary-swire , Revenue-authority-of-singapore , Filing-service , Singapore-explains-tax-filing-changes-this , Inland-revenue-authority , Direct-notice , No-filing-service , Income-scheme , Allowable-business-expenses , Tax

Sweden To Probe E-Commerce And Rental Income Declarations

Sweden To Probe E-Commerce And Rental Income Declarations
Sweden To Probe E-Commerce And Rental Income Declarations
by Ulrika Lomas, Tax-News.com, Brussels
03 March 2021
The Swedish tax authority has announced that it will be expending more resources this year on ensuring businesses fully declare income from e-commerce and taxpayers report income from home rentals.
The tax agency noted many Swedes rented out their holiday homes last summer, as a result of the COVID-19 pandemic, and consumers shifted their spending online. Its investigations will focus on both income tax and value-added tax compliance.
The tax agency said it will in particular look at the affairs of small- and medium-sized companies that sell their goods or services online, including to customers overseas.

Sweden , Brussels , Bruxelles-capitale , Belgium , Swedes , Swedish , Ulrika-lomas , Tax , News , Offshore , Tax-news

Belgium Gazettes Law For Tax On Securities Accounts

Belgium Gazettes Law For Tax On Securities Accounts
Belgium Gazettes Law For Tax On Securities Accounts
by Ulrika Lomas, Tax-News.com, Brussels
03 March 2021
Belgium has published in its Official Gazette legislation to introduce the country's new tax on securities accounts.
The Law introducing an annual tax on securities accounts was published in the Gazette on February 25, 2021, and is effective from February 26, 2021.
The tax is to be levied on legal and natural persons with investments of more than EUR1m in securities and derived products. It will be charged through taxpayers' securities accounts provided by intermediaries, on the holdings of Belgian individual taxpayers, whether or not they are resident in Belgium, and legal entities.

Brussels , Bruxelles-capitale , Belgium , Belgian , Ulrika-lomas , Official-gazette , Tax , News , Offshore , Tax-news , E-commerce

Hong Kong Announces Tax Relief In 2021-22 Budget

Tax-News.com delivers news headlines and features on international tax, law, politics, economics and trade.

Hong-kong , Mary-swire , Hong-kong-inland-revenue-department , Inland-revenue-department , Tax , News , Offshore , Tax-news , E-commerce , Legal , Law , Politics

Taiwan Warns E-Services Providers To Register For VAT

Tax-News.com delivers news headlines and features on international tax, law, politics, economics and trade.

Taiwan , Hong-kong , Taiwanese , Mary-swire , Tax-portal , Tax , News , Offshore , Tax-news , E-commerce , Legal

OECD Completes Phase One BEPS Action 14 Reviews

Tax-News.com delivers news headlines and features on international tax, law, politics, economics and trade.

Aruba , Qatar , Gibraltar , Kazakhstan , Greenland , Thailand , Trinidad-and-tobago , Vietnam , Republic-of , United-arab-emirates , Barbados , Brussels

Belgian Lawmakers Approve New Tax On Securities Trading

Tax-News.com delivers news headlines and features on international tax, law, politics, economics and trade.

Brussels , Bruxelles-capitale , Belgium , Belgian , Ulrika-lomas , Tax , News , Offshore , Tax-news , E-commerce , Legal

US Tax Season Begins

US Tax Season Begins
22 February 2021
The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns.
Taxpayers have until Thursday, April 15, 2021, to file their 2020 tax return and pay any tax owed. The IRS expects to receive more than 160 million individual tax returns this year, with nine out of 10 returns filed electronically.
Taxpayers can securely access their IRS account information through their individual online account, which includes a number of new features.
For example, people can now check the amounts of their Economic Impact Payments (EIPs) to help them accurately calculate any Recovery Rebate Credit they may be eligible for on their 2020 tax return.

Washington , United-states , Mike-godfrey , Revenue-service , Internal-revenue-service , Economic-impact-payments , Recovery-rebate-credit , Online-payment-agreement , Tax , News , Offshore , Tax-news

Cyprus Allows Firms Longer To Pay VAT Due In Feb, March

Tax-News.com delivers news headlines and features on international tax, law, politics, economics and trade.

Cyprus , Lorys-charalambous , Tax-department , Cyprus-department-of-taxation , Cyprus-allows-firms-longer-to-pay , Tax , News , Offshore , Tax-news , E-commerce , Legal , Law