With the 2020 Budget Law, the Italian government has reshaped Italy’s digital services tax (DST), mirroring the EU Commission proposal of March 2018. The revised version of the Italian DST is now in force effective January 1, 2020.
The new Italian DST regime is an income tax regime. The new tax on the turnover from qualified “digital services” that indicate a high degree of users’ involvement in the generation of value is set to apply […]
On January 1 2020, the corporate tax reform entered into force. The Swiss cantons have some margin of discretion in the implementation of the legislation. Differing cantonal pecularities and characteristics are, hence, to be expected.
With the enactment of the corporate tax reform, the cantonal tax privileges for holding, domicile and mixed companies were abolished. To mitigate the additional tax burden, companies that benefitted from privileged tax treatment until the end of 2019 have the […]
Jignesh Ghelani (Partner), Sanchita Rungta (Senior Associate), and Rishi Raju (Associate), Economic Laws Practice, co-author an article in GSTsutra, highlighting the incongruities that create anomalies between the provisions of the Income Tax Act for claiming deductions of business expenditure and availing ITC under CGST Act.
The team also elaborates on rent-free accommodation, employee welfare expenses on maintenance, and rent-a-cab services for transportation of employees, where a degree of non-alignment between the provisions of the two […]