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Switzerland: providing services and travelling for business
Guidance for UK businesses on rules for selling services to Switzerland.
UK lands trade deal with South Korea to boost jobs and exports
UK lands momentous trade deal with South Korea to boost jobs and exports
New laws bring the world of work into the 21st century
Over 15 million people across the UK are expected to benefit as the Employment Rights Act receives Royal Assent.
Brilliant Borders: Kenya's Customs goes digital
A new app will save time and money for big businesses and small traders alike, as a longstanding Kenya-UK partnership further improves cross-border trade.
Yorkshire family brewery taps into new export opportunities with Government guarantee
UKEF support helps Wold Top brewery to expand its exports into new markets.
Federal Revenue Service Confirms Accrual Basis Method
The Federal Revenue Service finally clarifies the position on what method should be used to calculate withholding tax on professional services delivered between two resident entities.
Withholding tax of 1.5% applies to the supply of professional services and is a tax advance creditable against the payers final tax liability. Over the past few years, there has been confusion as to whether the tax should be accounted for on an accrual basis or on a cash basis.
The Interpretative Act 8/2014 (Ato Declaratório Interpretativo SRF 8/2014 – ADI 8/2014), was published in the Official Gazette of September 3, 2014 and clarifies that the accrual basis method must be observed moving forward.