Have you heard of “Imported Taxable Services Tax”?
It is starting 1 Jan.
Covers not just digital tax:
They switched keywords from “DIGITAL” to “IMPORTED SERVICES”.
Before budget 2019 announced there was a hype on government imposing NEW digital tax. When published in Finance Bill, its coverage goes way beyond that. It is HUGE. Not just online services, it covered all taxable services.
There are TOP 6 things you need to know about Imported Taxable Services Tax!
To make it comprehensible, easy reading and not technical. We present it in the form of a 5 min quick read infographic.
Do share and help others understand this
We talk to many practitioners and business friends, noticed a lot of people didn’t know what it is.
This is very scary indeed, in view of its:
- Wide coverage;
- brand new;
- Affects many business; and
- Starts on 1 January 2019 (+1 month from now).
The most frequent statement we hear is “Why not mentioned in Budget?”
Most speakers prepared their seminar content based on the Budget speech. The details of this new tax provided in the Finance Bill which was published way later.
PS: CONFUSED OVER HOW THIS TAX IS APPLIED?, check out seminar on IMPORTED SERVICE TAX 2019 seminar.
HAPPY LEARNING !