Indirect Tax News - July 2022
01 August 2022
Our lead article analyses recent guidance on U.S. legislation that targets forced labour in the supply chains of products entering the country, specifically from the Xinjiang Uyghur Autonomous Region of China (XUAR). The reach of the legislation is broad and establishes a rebuttable presumption that goods manufactured in whole or in part in the XUAR or produced by certain entities are the products of forced labour. Detailed guidance to importers addresses areas such as due diligence, the evidence needed to rebut the forced labour presumption, and how detentions, exclusions and seizures of imported goods will be carried out. In another North American development, Canada will be introducing a luxury tax on certain new cars, aircraft and vessels starting in September, with the tax applying at the point of purchase where the final sale price exceeds a specified threshold. And in South America, Chile is introducing new VAT withholding obligations on financial intermediaries as from August.
Read these articles and more in the July 2022 issue of Indirect Tax News and be sure to check out Indirect Tax Bytes!
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