Wells Fargo has lost its bid to have the US Supreme Court review the economic substance doctrine, which became part of the Internal Revenue Code in 2010.
From January 2015, place of supply rules will change and a one-stop service for VAT registration will be introduced for suppliers of digital services in the EU. Companies do not have long to ensure that critical functions, such as their ERP systems, can cope.
The business community has welcomed new prime minister Narendra Modi’s rise to power, and now the Confederation of Indian Industry (CII) is hoping his government will increase efforts to establish a goods and services tax (GST) to improve investor sentiment and help put the Indian economy back on track.
