Americas
- Argentina: Resolution 714/2023 provides that effective 1 September 2023, the importation of certain goods related to the generation of electrical energy will not be subject to the PAIS tax.
- Bolivia: The tax authority issued guidance extending the deadline for certain taxpayers to register in the value added tax (VAT) sales and purchases registry for August 2023.
Asia Pacific
- Australia: The Department of Climate Change, Energy, the Environment and Water announced that it will be reviewing the feasibility of a carbon border adjustment mechanism.
- Bahrain: The National Bureau for Revenue (NBR) published an updated excise tax guide on their website.
- Malaysia: The KPMG member firm in Malaysia prepared a monthly summary of tax developments that includes discussions of income tax and indirect tax.
- Sri Lanka: The government published a bill to amend the Value Added Tax (VAT) Act No. 14 of 2002.
Europe
- Belgium: Circular 2023/C/72 provides that the provision of company cars by foreign employers to Belgian resident employees is treated as providing car rental services to the employees for VAT purposes and therefore is subject to Belgian VAT.
- Poland: The Ministry of Finance made available an updated version of the National e-Invoicing System (KSeF), adjusted to support the FA(2) logical structure.
- Spain: Law 13/2023—which implemented European Directive 2021/514 (DAC7)—also introduced amendments to the limit on the corporate income tax deductibility of financial expenses for tax periods beginning on or after 1 January 2024.
- UK: The Upper Tribunal held that interest deductions on intra-group debt to fund a share acquisition were disallowed because they had an unallowable purpose.
Source: KPMG
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