Also in the news...
PM secures new agreement with EU to benefit British people
UK secures new agreement with the European Union to support British businesses, back British jobs, and put more money in people’s pockets.
Get your overseas professional qualifications recognised as a refugee in the UK
Guidance on how to get your professional qualifications from overseas recognised by a UK regulatory body.
IP in China
Information to help you protect, manage and enforce your intellectual property (IP) rights in China.
IP in Indonesia
Information to help you protect, manage and enforce your intellectual property (IP) rights in Indonesia.
What is a barrier to goods
If you’re exporting goods, trade barriers can include:
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.