TAX NEWS

The Transfer Pricing adjustment does not impact on the customs value of imported goods. Judgment of the European Court of Justice of December 20th, 2017

The European Court of Justice published in December 20, 2017 a sentence (case C-529/16) that decouples the prices agreed between related entities and the customs value declared. This relation was proposed by the World Trade Organization by 2015, through the publication of the Customs Valuation and Transfer Pricing Guide. This…

VAT treatment of the transmission of solar power plants

Binding tax ruling V2886-17, issued by the Spanish General Tax Sub-directorate last November 23, 2017. The consultant entity wishes to sell all the solar plants that make up its power generation business. Solar plants have their corresponding photovoltaic installations, connection lines, delivery and transformation centers and lines of connection of…

VAT treatment of the formwork design

Binding tax ruling V2176-17, issued by the Spanish General Tax Sub-directorate last November 28, 2017. The consultant company provides engineering services consisting in the design of metal molds (formworks) for the manufacture of large prefabricated of concrete. Molds designing will be used to produce beams of concrete of a building…

Proposal by the European Commission for the modernization of VAT as regard Ecommerce

On December 5th, the European Commission approved the VAT package for the modernization of Ecommerce of goods and services in the EU territory, by a Directive and two Regulations. The purposes of this measure are: – To facilitate the international trading – Combat VAT fraud – Ensure free competition for…

New Guidance on the implementation of Country by Country Reporting

The next 31st December,2017 is the deadline to submit the Country by Country reporting for the taxpayers that are bound to complete it and their fiscal year ended on 31st December, 2016. Country by Country reporting applies to multinational enterprises groups with an annual consolidated group revenue of EUR 750…