Also in the news...
France: providing services and travelling for business
Guidance for UK businesses on rules for selling services to France.
Living in the USA
Information about moving to, living or retiring in the USA – including visas, working, healthcare and driving.
Trade with Liechtenstein
How you import from and export to Liechtenstein
UK trade with the United States: Impact of tariffs on imports and exports of goods
A closer look at the goods the UK trades with the United States in the context of trade tariffs.
Simplified rates for bringing personal goods into the UK
Find out about the simplified rates of customs and excise duty used when you declare your personal goods online.
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.