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The spread of Value Added Tax (also called Goods and Services Tax – GST) has been the most important development in taxation over the last 50 years. It has now been implemented by more than 150 countries, where it often accounts for one fifth of total tax revenue. The potential for double taxation and unintentional non-taxation has increased. The CFA is therefore developing the OECD International VAT/GST Guidelines to address these problems. What are the VAT/GST Guidelines ? Find out more.
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12-Dec-2011
Like the OECD, VAT has also been around for about 50 years. Is it time to reform some of the older, more unwieldy versions and go for a trimmer, broad-base, standard-rate VAT system instead?
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22-Nov-2011
On 8 and 9 November, delegates from Working Party N° 9 on Consumption Taxes met in Paris to discuss policy issues on the design and operation of Value Added Taxes (“VAT” and its equivalent, called “Goods and Services Taxes” – “GST” in certain jurisdictions). The discussion was mainly focused on the further development of internationally agreed principles for applying VAT/GST on international trade.
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05-Jul-2011
The VAT/GST Guidelines on Neutrality have been approved by the Committee on Fiscal Affairs on 28 June 2011. These consist of six guidelines on applying VAT/GST as a tax that is neutral for businesses, including foreign businesses. They form part of the OECD International VAT/GST Guidelines . The draft Guidelines had been released for public consultation in December 2010. Several major business associations and global advisory firms made representations strongly supporting the Guidelines and stressing the need for further guidance to ensure their implementation in practice.
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22-Jul-2011
Following the invitation for public comment on the VAT/GST Guidelines on Neutrality, the OECD has now published the comments received. These comments were very supportive of the Guidelines and will be used to develop further guidance on their implementation in practice.
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18-Mar-2011
This publication provides information on indirect tax topics such as international aspects of Value Added Tax/Goods and Services Tax (VAT/GST) developments in OECD member countries. It describes a range of taxation provisions in OECD countries, such as the taxation of motor vehicles, tobacco and alcoholic beverages.
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22-Dec-2010
The OECD Committee on Fiscal Affairs invites public comments on draft Guidelines on Neutrality of VAT. These draft Guidelines consider the principles of neutrality in the context of international trade. It confirms that the burden of the value added taxes themselves should not lie on taxable businesses and that foreign businesses should not be discriminated in jurisdictions where they are not established or registered for VAT purposes. Comments should be sent before 23 March 2011 to Jeffrey Owens, Director, CTPA (jeffrey.owens@oecd.org).
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05-Feb-2010
On 5 February 2010, the OECD’s Committee on Fiscal Affairs released a report focusing on VAT/GST relief for foreign businesses. The report highlights the difficulties businesses face when they try to recover VAT incurred abroad. The report is based on a survey of more than 300 businesses. It revealed that refund procedures are considered difficult for 72% of businesses and that nearly 21% of the respondents are unable to recover any of their foreign VAT.
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05-Feb-2010
The OECD Committee on Fiscal Affairs invites public comments on draft Guidelines on the application of value added taxes to the international trade in services and intangibles. These draft Guidelines consider business-to-business supplies and, in particular the identification of the jurisdiction with taxing rights. They form the first part of the OECD’s International VAT/GST Guidelines currently under development. Comments should be sent before 30 June 2010 to Jeffrey Owens, Director, CTPA (jeffrey.owens@oecd.org).
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