Global Indirect Tax News March 2014

From this issue of the newsletter, we will be combining the Global Indirect Tax News (covering VAT, GST, and sales tax issues around the globe) and the Customs and Global Trade Newsletter (covering customs and global trade news).
Features of this edition include news on Free Trade Agreements, including the South Korea-Australia and Singapore-Taiwan Agreements; the release by the U.S. Bureau of Industry and Security of FAQs on export control reform; and further moves by the European Commission to counter VAT fraud.

I am also delighted to share with you the latest release of The Link Between Transfer Pricing and Customs Valuation — 2014 Country Guide . The Guide is one of the most broad-based and authoritative, annually updated, guides of its kind, compiling essential information on the customs-related requirements and implications of related party pricing and retroactive transfer pricing adjustments in numerous customs jurisdictions around the world. This year’s edition contains updates from Deloitte’s Customs and Global Trade specialists in 47 countries, addresses new regulatory and enforcement developments in this high-focus area of customs valuation compliance, and includes five new countries of increasing interest to multinational importers: Ecuador, Egypt, Israel, Saudi Arabia, and Turkey. Given the complexity of customs valuation and transfer pricing issues, as well as the increasing scrutiny of related party transactions by customs and tax authorities around the globe, the Guide provides a valuable starting point for inquiries into customs-related impacts of setting and adjusting transfer prices.