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Alliotts TaxPulse

April TaxPulse

Alliott Group’s global tax news in one monthly digest

Asia Pacific Tax News

BJP pledges to revise income tax brackets if re-elected

India’s ruling BJP party says it will revise income tax brackets if re-elected in the seven-phase general election, starting from 11 April. “We are committed to further revise the tax slabs and the tax benefits to ensure more cash and greater purchasing power in the hands of our middle-income families,” the BJP said in its election manifesto.
Times of India

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New NZ employment law from 1 April

New NZ employment law

From 1 April 2019, employees who are affected by domestic violence will have new entitlements and rights.

They can take up to 10 days’ paid leave each year, can request a variation to their working arrangements, and can raise a personal grievance, or unlawful discrimination claim, if their employer treats them adversely because they are affected by domestic violence.

These new entitlements and rights come from the Domestic Violence – Victims’ Protection Act 2018 (Act).

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Alliotts TaxPulse

Global tax news monthly digest Mar-19

Alliott Group’s monthly global tax digest for March

Welcome to March’s edition of TaxPulse

A monthly media round-up of news, views and comment pertaining to global taxation, provided by Alliott Group’s International Tax Services Group.

Asia Pacific Tax News

China unveils $298bn tax cuts to boost growth

Chinese number two Li Keqiang has outlined plans to cut billions of dollars in taxes in order to boost the world’s second-largest economy. Mr Li told 3,000 delegates at the National People’s Congress that China would aim to deliver nearly 2 trillion yuan ($298bn) of cuts in taxes and other company fees. A value-added tax for transportation and construction sectors will be reduced from 10% to 9%, and VAT for manufacturers will fall from 16% to 13%, he said.
BBC News    South China Morning Post   China Daily

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international tax transparency

ATO on E-invoicing

Trans-Tasman e-invoicing

Electronic invoicing is a broad term that covers the exchange of invoices between a supplier and a buyer in an electronic format – for example, emailing an invoice in portable document format (PDF).

However, when we talk about e-invoicing (or digital invoicing), we mean the automated direct exchange of invoices between the supplier’s and buyer’s software systems.

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Alliotts TaxPulse

Global tax news monthly digest Feb-19

Asia Pacific Tax News

China tax cut package to stimulate economy 

China will cut value-added tax rates for selected industries and provide tax rebates for others as part of its efforts to boost a slowing economy. Government officials said they would cut taxes “on a larger scale” in order to boost business activity. JPMorgan Chase & Co. economists estimate the total impact of the tax cuts will be around 2trn yuan ($300bn), or 1.2% of GDP. Tax cuts for graduates and low-income workers have also been announced in a stimulus drive to fend off the effects of the economic slowdown. Companies which hire people designated as “needy” will also qualify for a tax deduction of 6,000 yuan per person per year for three years.
Financial Times   Bloomberg   China Daily

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Global tax news in January monthly digest

January TaxPulse by Alliott Group


Chinese leaders promise tax cuts to boost flagging economic growth

China’s top economic policymakers promised more tax cuts and increased funding for infrastructure at a key annual planning meeting last month, as US tariffs and weakening domestic consumption added to downward pressure on growth. China’s economy slowed to 6.5% year-on-year growth in the third quarter of 2018. “The pro-active fiscal policy should enhance efficiency, implement larger-scale tax cuts and fee reductions, and substantially increase the size of local government special bonds,” state news agency Xinhua said in a translation provided by Reuters.
CNBC   Financial Times   South China Morning Post

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E-Commerce and the Special Scheme for Distance Selling

According to a study conducted by the CRR (Centre for Retail Research), e-commerce generated net sales of €232.6 billion in Europe and Poland in 2016 and €265.7 billion in 2017.

In 2018, this market should exceed €300 billion. Although it proves a fantastic opportunity for online sellers, e-commerce can also be the source of significant tax risks, particularly VAT. Mickael Tatayas, Head of Alliott Group’s VAT/Indirect Services Group, explains the state of play in Europe and provides scenario examples.

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Insights for entrepreneurs

How to thrive during the next economic downturn

5 key strategies to help you respond to the disruption

Entrepreneurs know that the economy goes through cycles.  Sometimes things are good and business booms.  Other times, things are tough and entrepreneurs struggle.  Markets go up and then go down and then, hopefully, go back up again.  That just seems to be the way things go.  But that doesn’t mean that you have to lose in a downturn.

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The power of data

Xero, Bill English and the power of data

NZ Herald reported this month how Sir Bill English’s skills are in demand by the Trump Administration as it moves to leverage US Federal data as a strategic asset to grow the economy.

The former PM and Finance Minister is taking American officials through the ground-breaking integrated government data system he spearheaded in New Zealand.

“I just spent a week in the States talking about integrated data,” he told a finance dinner on Wednesday.

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