With China poised to complete its VAT roll-out in the second half of this year and India hoping to introduce GST in 2016, the next few years will see 2.5 billion people paying consumption tax more efficiently than ever before on the goods and services they are buying at an ever increasing rate. Meredith McBride tracks the shift from direct to indirect taxation in Asia.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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