Issue of multiple registration for foreign operators to be reviewed by panel NEW DELHI, SEPTEMBER 20 The Finance Ministry on Thursday notified that e-commerce operators shall collect an amount at the rate of one per cent as tax collected at source (TCS) under the Goods and Services Tax (GST) on...
BRUSSELS (Reuters) – McDonald’s tax deal with Luxembourg did not breach EU state aid rules, EU antitrust regulators ruled on Wednesday, saying the reason the US fast food chain did not pay some taxes was due to the mismatch between US and Luxembourg laws. The decision by the European Commission...
President of Kazakhstan Nursultan Nazarbayev has signed the law on ratification of the protocol between Kazakhstan and Uzbekistan on avoidance of double taxation of incomes, the press service of the head of state reported Sept. 18. “The head of state has signed the law of the Republic of Kazakhstan “On...
On September 13, South China’s Guangdong province announced a series of investment incentives and cost-cutting measures to offset the impact of the worsening trade war with the US. The measures, outlined in the Policy Measures for Expanding Opening-up and Using Foreign Investment, consist of a 10-point plan to attract foreign...
The Australian Taxation Office (ATO) is increasing its efforts to identify taxpayers who fail to report all their income this tax time, as it strives to recover an annual tax shortfall of nearly $1.4 billion caused by individuals who leave income out of their return. “Tax lost from under-reported income...
The Finance Ministry, last day informed that the Government is planning to introduce income tax exemption to the interest income on the specified Offshore Rupee Denominated Bonds. “Legislative amendments in this regard shall be proposed in due course”, the Ministry said. Interest payable by an Indian company or a business...
Four pharmaceutical giants have been named and shamed for depriving Australia of $215 million a year in tax avoidance. Johnson & Johnson, Pfizer, Merck Sharp & Dohme (MSD Australia), and Abbott – which make household name brands like Band Aid, Baby Oil, Centrum and ChapStick –were found to have unfairly...
Luxembourg’s fund chiefs are calling on the next government to reorganise the subscription tax on funds to help lower their operating costs. Less than a month before the legislative elections, on Monday Alfi outlined a list of recommendations for the next leaders of the country. The subscription tax review is...
Spain’s Prime Minister Pedro Sánchez is scheduled to meet with the European Union’s chief negotiator Michel Barnier to push for an annex addressing smuggling in the British territory, as well as cross-border workers and tax evasion. Gibraltar is also on the agenda. As for Gibraltar, however, Spain will reportedly not...
PARIS – France is watering down its punitive tax on the assets of wealthy individuals who leave the country. The government of France is altering the conditions of its infamous “exit tax” and limiting the conditions under which ex-taxpayers of France are liable to pay a tax on the capital...
Angola and Portugal are due this week to sign a convention to end double taxation between the two countries, as part of a two-day visit to Angola that the Portuguese prime minister is due to start on Monday, financial newspaper Jornal de Negócios reported last Friday. The newspaper reported that...
