Post by W.H. on Nov 3, 2015 8:16:49 GMT 4
A Hitchhiker’s Guide to the OECD’s International VAT/GST Guidelines
Walter Hellerstein
University of Georgia School of Law
October 14, 2015
The
paper will be presented at the 11th annual International Tax Symposium
at the University of Florida Levin College of Law, on October 30, 2015.
Florida Tax Review, Forthcoming
UGA Legal Studies Research Paper No. 2015-31
Dean Rusk International Center Research Paper No. 2015-01
Abstract:
The OECD’s International VAT/GST Guidelines, which
are scheduled to be released in their consolidated form at the OECD’s
Global Forum on VAT in Paris on November 5-6, 2015, are the culmination
of nearly two decades of efforts to provide internationally accepted
standards for consumption taxation of cross-border trade, particularly
trade in services and intangibles. This article provides a roadmap to
the Guidelines, especially for readers who may be unfamiliar with
consumption tax principles, in general, or VATs in particular. Part II
of the article provides the background to the Guidelines, describing the
basic features of a VAT, the problems with which the Guidelines are
concerned, and a brief history of the OECD’s efforts to address these
problems. Part III discusses the Guidelines’ neutrality principles. Part
IV discusses the general rules applicable to business-to-business (B2B)
transactions. Part V discusses the general rules applicable to
business-to-consumer (B2C) transactions. Part VI discusses specific
rules for particular types of supplies. Part VII discusses the
Guidelines’ recommendations designed to support a consistent
interpretation of the Guidelines, including the use of mechanisms for
mutual cooperation and exchange of information and other arrangements
allowing tax administrations to work together. Part VIII concludes.
are scheduled to be released in their consolidated form at the OECD’s
Global Forum on VAT in Paris on November 5-6, 2015, are the culmination
of nearly two decades of efforts to provide internationally accepted
standards for consumption taxation of cross-border trade, particularly
trade in services and intangibles. This article provides a roadmap to
the Guidelines, especially for readers who may be unfamiliar with
consumption tax principles, in general, or VATs in particular. Part II
of the article provides the background to the Guidelines, describing the
basic features of a VAT, the problems with which the Guidelines are
concerned, and a brief history of the OECD’s efforts to address these
problems. Part III discusses the Guidelines’ neutrality principles. Part
IV discusses the general rules applicable to business-to-business (B2B)
transactions. Part V discusses the general rules applicable to
business-to-consumer (B2C) transactions. Part VI discusses specific
rules for particular types of supplies. Part VII discusses the
Guidelines’ recommendations designed to support a consistent
interpretation of the Guidelines, including the use of mechanisms for
mutual cooperation and exchange of information and other arrangements
allowing tax administrations to work together. Part VIII concludes.
Number of Pages in PDF File: 36