Indian revenue department has reduced the permissible gap between the value of cross-border wholesale trade transactions and their arms-length price computed by tax officials to 1%.

"Previously, the figure was 3%. In case the gap is more than 1%, the wholesale transactions between the Indian unit and the related overseas enterprise will be subject to a rigorous transfer-pricing audit. In the case of all other sectors, the permissible variation between the arms-length price decided by the tax officer and the value declared by the company has been retained at 3%".

"The department had indicated earlier that in sectors where operating profit margin is less, the gap ought to be narrow. In sectors like software development, where operating profitability is higher, unlike wholesale trading, the value of transactions could vary within a range of 3% with respect to the arms-length price attributed by the taxman."

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Source Econsultancy.com

The German ecommerce industry is expected to reach EUR 42.8 billion by end of 2014.

"In 2013, the share of online sales in the total retail industry was 8.4%, but according to the market research agency IFH findings, this share will be 9.4% in 2014."

"There is an expected growth rate of 13% in 2014, while the ecommerce industry grew by 14% in 2013."

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The Spanish government agency that oversees matters of finance and taxation has issued a new Bitcoin-related ruling.

"The ruling, which was issued in response to questions from Spanish Bitcoin exchange platform Coinffeine, states that Bitcoin should be treated as an electronic payment system."

"In April 2014, Abanlex, the law firm representing Coinffeine, reached out to the Ministry of Finance and Public Administration (El Ministerio de Hacienda y Administraciones Públicas) as well as Congress, to obtain a clear legal definition of Bitcoin. With its response, the Ministry found that Bitcoin-based online gambling companies in Spain must now apply for licenses. Further, the ruling, coupled with new statements from Congress, suggests that Bitcoin transactions involving a business may be subject to existing laws that impose a cap on cash transactions of EUR 2,500 or more. However, although the Ministry said it will treat Bitcoin as an electronic payment system for the purpose of gambling law, it is not yet clear if this interpretation is more broadly applicable."

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Mobile commerce in Belgium is set to hit EUR 213 million until the end of 2014, accounting for 9.7% of total ecommerce sales, predicted to reach EUR 2.2 billion in 2014.

"The 5 most popular product categories sold via mobile devices in Belgium are clothing, furniture and home decoration, tourist activities, toys and beauty products. Online sellers offer their website either with responsive design or develop a separate app to adapt to shopper’s demand to shop on their phones."

"Belgian ecommerce is not on the same track with surrounding countries and is rather seen as a playground for international companies which take in more and more ground."

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