Victorinox’s Post

The Directorate General of Goods and Services Tax Intelligence (#DGGI) has begun investigating airlines for retaining taxes, including GST, collected from passengers who are no-shows, sources told #TNIE. The concern is whether #airlines should refund these taxes when services are not utilized. #Economyclass tickets are taxed at 5%, and #businessclass at 12%. An expert highlighted that if a #passenger does not use the service, it raises the question of whether the taxes collected should be refunded. There is also debate over the appropriate #tax rate for the consideration retained by airlines in no-show cases. One airline has already paid tax following DGGI scrutiny, and further regulatory actions are anticipated. The industry awaits clarity on whether #GST collected from no-show passengers should be refunded.

Service Tax not leviable under BAS on Incentives Received from CRS Companies and Air Lines on Sale of Tickets: CESTAT #ServiceTax #BAS #Incentives #CRSCompanies #AirLines #SaleofTickets #CESTAT #taxscan #taxnews Read More: https://lnkd.in/dGF4RxyP

Another interesting area aviation area where IATA plays an important role. None of us like these taxes and fees, but seems they are now a permanent part of every ticket price. We try to keep it as consistent as possible for collections (airlines need this) and this manual shows how.

Court of Justice of the European Union (CJEU) thus came down in favour of Faurecia, in a dispute relating to stamp duty on short-term treasury operations, in what is the first historic agreement on this matter by the Court of Justice. The Court's decision, which pitted a car company against the Tax and Customs Authority, considered that the principle of the free movement of capital would be jeopardized by excluding borrowers established in other member states from exemption from stamp duty on cash-pooling operations. The CJEU judgement states that: article 63 of the Treaty on the Functioning of the Union must be interpreted as precluding legislation of a Member State under which short-term treasury operations are exempt from stamp duty where they involve two entities established in that Member State, but are not exempt where the borrower is established in another Member State. Abreu Advogados, through Partner Maria Dulce Soares, honorary partner Miguel Teixeira de Abreu, and professional partners Mariana Gouveia de Oliveira and Susana Duarte, advised Faurécia - Assentos de Automóvel in this case, and this ruling followed several favourable arbitration decisions by the independent law firm. #abreuadvogados #futureinprogress #taxlaw #europeanunion

✈ Did you know that Governments request airlines to collect and remit over 2,300 Ticket Taxes, Fees, and Charges (TTFCs) in about 250 jurisdictions? 😱 📢 IATA published the #Best #Practices for #TTFCs on Air Tickets, providing a clear set of best practices and #recommendations for #national #taxation #authorities to consider and apply. 👉 https://lnkd.in/gdNkSjXi . ⚖ These practices aim to #harmonize #parameters for airlines to efficiently collect TTFCs, reducing #administrative #burdens, ensuring #compliance, #tax #transparency, and facilitating accurate and prompt #settlement of relevant TTFCs. 👉 TTFC Best Practices here 👉 https://lnkd.in/gdNkSjXi

Proud to have contributed to the creation of the #TicketTaxesFeesAndCharges (TTFC) #BestPractices in collaboration with our member #airlines, #IATA #taxation and #airportcharges subject matter experts with the scope of: ✅explaining the concepts and terminology of ticket TFC (tax, fee, charge) ✅defining the TFC ecosystem, the #governments’ and #airlines’ role in the TFC #collection and #remittance processes ✅highlighting the #challenges and the #complexities ✅defining the #parameters for a #smooth process while ensuring #compliance and industry #alignment The document is available here: https://lnkd.in/gdNkSjXi

🌐 Explore the highlighted topics on the second day of the IFA RIO 2024 Congress. On June 26, the president of ABDF, Heleno Torres, will be the General Reporter, addressing the theme "Taxation of offshore holdings and substance." The day's program will include five seminars covering BEPS 2.0, transfer pricing, double taxation, customs regimes, and will conclude with the WIN seminar, delving into the subject of transfer pricing. Additionally, international universities will present scholarship opportunities for postgraduate studies in Tax Law. 🔗 Ensure your participation and be part of this journey of learning and networking! Register at: www.ifario2024.com The complete schedule is available on our website. #IFARIO2024 #IFA #IFALATAM #ABDF #CurrentTaxation #TransferPricing #GlobalTaxation #BEPS2 #Offshore #TaxLaw

Government intending to switch from using CRSP and revert to Transaction Value Method (largely Invoice value) in valuation of used motor vehicles for taxation purposes. We are likely to see a rise in taxes computed since invoice values tend to be higher than CRSP customs values. Probably Government to then consider reducing duty rates on motor vehicles to cushion importers/buyers.

Transition from CRSP to Transaction Value Method for Valuation of Used Motor Vehicles.

Honored to share the latest GST updates with the incredible GST officers at the National Academy of Customs, Indirect Taxes, and Narcotics! 🎤📚 Diving deep into recent events and changes under GST was an enlightening experience. 🌟 Thank you to all who attended and engaged! 🙌 #GST #TaxUpdates #Customs #IndirectTaxes #PublicSpeaking #ProfessionalGrowth #MindlessWriterAI #TaxReform #KnowledgeSharing #SpeakerLife