Category: Legislation
Poland poised to launch new corporate income tax regime
Government to introduce the so-called Estonian solution. ... - Continue reading
Higher tax bill for Cyprus businesses after new law
Cyprus is aiming to better tackle tax avoidance by companies through a new legislation. The latter mainly addresses base erosion and profit shifting. ... - Continue reading
Australia tightens rules on foreign investment
Australia becomes more stringent regarding foreign investments. ... - Continue reading
Challenges for Transfer Pricing in an Economic Downturn
It is no surprise to anyone that we are now enterring a recession due to the economic chaos caused by the COVID-19. Consequently, countries all over the world have been adjusting their tax laws to the unprecedented turn of events. In this article, we will focus on transfer pricing laws. ... - Continue reading
Another COVID-19 Enforcement Tool: Money Laundering Law
This article discusses about the role of anti money laundering during the 2020 pandemic. ... - Continue reading
German cabinet passes stimulus tax measures
After the 2020 crisis, Germany has taken a few steps to fuel its economy. ... - Continue reading
Countries still can’t agree on update to multinational group taxation rules, OECD official says
The 137 member countries of the “Inclusive Framework on BEPS” are having a disaccord regarding a legislation for multinationals. ... - Continue reading
German finance ministry clarifies transfer pricing proposal
"No price-setting approach", confirms the German Finance Ministry. ... - Continue reading
Ireland: The Impact Of COVID-19 On Tax Residence And Permanent Establishments
On 23 March 2020, the Irish Revenue released its programme meant to relieve tensions around tax residence and permanent establishments. The reason? - you guessed it right - COVID-19. Here's more. ... - Continue reading
OECD officials note disagreement over digital tax update, reveal plans for tax and transfer pricing guidance
Disagreement registered around the 'Pillar One' of the OECD. ... - Continue reading
New Poland transfer pricing risk assessment tool released in interactive format
Poland launches a new transfer pricing risk assessment tool and it's an interactive version. ... - Continue reading
Explainer: South Africa’s ‘expat tax’ – your questions answered
Clarifications on tax-related issues for South Africans living and working abroad. ... - Continue reading
Ireland: Covid-19 Ireland Update – Irish Corporate Tax Residence Considerations
Ireland updates its corporate tax legislations amidst the COVID-19 crisis. ... - Continue reading
Denmark extends all filing deadlines, including those for transfer pricing documentation
Extension until 1st September 2020 for deadlines, and it won't even require an application. ... - Continue reading
Luxembourg: Amendment To The Double Tax Treaty Between France And Luxembourg Passed
More details on the amended double tax treaty between France and Luxembourg. ... - Continue reading
Guernsey: The Impact Of The Coronavirus (COVID-19) On Economic Substance And Tax Residency In Guernsey And Jersey
Adjustments in laws in Guernsey and Jersey following the COVID-19. ... - Continue reading
AMLA, Bank Secrecy Law for overhaul
When forces join together to tackle Anti-Money Laundering and the Bank Secrecy. ... - Continue reading
Luxembourg: FATCA & CRS Reporting In Luxembourg: New Draft Bill Submitted To The Parliament
On 20 February 2020, the Luxembourg government filed with Parliament the draft bill of law n°7527 modifying both the CRS law of 18 December 2015 and the FATCA law of 24 July 2015 (the "Draft Bill"). ... - Continue reading
Canada: Treaty Shopping: MIL, MLI And ALTA Things In Between
On February 12, the Federal Court of Appeal (FCA) released its decision in The Queen v. Alta Energy Luxembourg S.a.r.l.1 (Alta Energy), a case that represents an attempt by the Canadian tax authority to relitigate the issue of whether Canada’s domestic general anti-avoidance rule (GAAR) can apply to curtail so-called “treaty shopping”.2 ... - Continue reading
India: India Union Budget 2020 – Unveiling Issues On International Taxation
Clarifications on India Union Budget 2020. ... - Continue reading
Malta: Tax Transparency For Tax Advisors: The Mandatory Disclosure Rules – No More Hiding
The main aim remains linked to curbing tax evasion and avoidance through capturing aggressive tax planning schemes.
... - Continue readingGTBank Urges FG to Introduce Structural Reforms
The recurring inability of government to achieve its projected non-oil revenues over the years points to the need for urgent structural reforms, a report by Guaranty Trust Bank Plc (GTBank) has stated. The bank stated this in its 2020 macroeconomic and banking sector outlook, obtained yesterday. It stressed the need… – Continue reading
Puerto Rico changes income tax law for intercompany charges
Puerto Rico has amended its income tax rules to allow taxpayers to fully deduct intercompany expenses if taxpayers file a transfer pricing study with their income tax return, due April 15, 2020, if not extended. ... - Continue reading
Uzbekistan: Amendments And Additions To The Tax Code Of The Republic Of Uzbekistan
The Republic of Uzbekistan presents changes to its taxation laws. ... - Continue reading
Denmark court applies broad interpretation of transfer pricing law
More on the new Danish transfer pricing legislation. ... - Continue reading
Vietnam issues Draft Pronouncement on Tax Administration, Transfer Pricing, Minimum Basic Wage and Personal Income Tax
The Vietnam Ministry of Finance has issued the draft pronouncement amending certain tax rulings. Some of the main aspects of the draft include: ... - Continue reading
India: Expatriate Tax And Regulatory Issues And Best Practices In India
Movement of expatriates cross borders potentially creates several tax and regulatory issues. ... - Continue reading
Home owners be aware (beware) of Capital Gains Tax – Part 2.
According to a new law, a Capital Gains Tax return and a payment of tax must be made within 30 days of the disposal following the disposal of a residential property. Here are more details about this new rule. ... - Continue reading
Malta Updates Guidelines On Automatic Exchange Of Account Info
Clarifications and updates on Automatic Exchange of Information have been issued on the 2nd of January 2020. ... - Continue reading
Belgium gets more aggressive on tax evaders
Belgium toughens up following proclamation of 'black money'. ... - Continue reading
India: Corporate Tax Rates Slashed To 22% For Domestic Companies And 15% For New Domestic Manufacturing Companies And Other Fiscal Reliefs
Changes to tax laws - Here are the key highlights. ... - Continue reading
Bulgaria: Introduction Of Mandatory Transfer Pricing Rules In Bulgaria
New law hits taxpayers. ... - Continue reading
How to cheaply transfer business from the British Virgin Islands?
How to transfer business from the British Virgin Islands cheap? ... - Continue reading
Expats to lose CGT benefits
Australian property owners living and residing abroad would have to sell their properties before June 2020 to still take advantage of capital gains tax (CGT) exemption. ... - Continue reading
How tax relief can work for your business
Over the years, the UK has continued to drive towards a more competitive Corporate Tax (CT) regime. ... - Continue reading
EU prepares to reveal firms’ tax avoidance
EU governments will vote on Thursday on a new rule that would require multinational companies to reveal how much profit they make and how little tax they pay in the bloc’s countries, the Guardian reported. The aim is to expose how large companies, with an annual turnover of more than… – Continue reading
Impact of Canada’s ratification of the MLI
The MLI enters into force for Canada from December 1, 2019. ... - Continue reading
Extended tax liabilities for directors in insolvencies linked to tax avoidance
Draft legislation included in the Finance Bill 2019-2020 will potentially make directors and certain other individuals closely connected to a company jointly and severally liable for a company’s tax liabilities that arise from avoidance, evasion or repeated insolvency and non-payment of tax debts or tax-related penalties of the company. ... - Continue reading
Will Samsung, Hyundai have to pay digital tax overseas?
Big changes ahead : Samsung Electronics, LG Electronics and other top-tier South Korean companies might have to pay corporate taxes even in countries where they have no physical presence. Here's how. ... - Continue reading
UBA head speaks about legislative changes relating to bank secrecy
On September 12, the Armenian government approved a set of amendments to the laws on Criminal Procedure and Bank Secrecy, which implies the disclosure of customers bank information. ... - Continue reading
United States: Webinar: Supreme Court’s reconsideration of Auer Deference may undermine FFIEC manual.
Regulations governing BSA/AML compliance are often ambiguous, leading to disagreements with regulators about whether financial institutions are in compliance with those regulations. ... - Continue reading
Ireland Issues Guide On Dual-Resident Companies
The Irish Revenue has published guidance on dual-resident companies that explains new rules introduced under the BEPS multilateral convention on tax treaties. ... - Continue reading
First Look: Ireland publishes finance bill with international tax and transfer pricing changes
The Irish government today published Finance Bill 2019, which contains legislation to enact tax measures taking effect primarily from January 1, 2020. ... - Continue reading
Luxembourg 2020 Budget requires all older tax rulings to expire
Luxembourg’s Budget Bill published on 14 October comes up with new laws surrounding advance pricing agreements and other advance tax confirmations (so-called tax rulings) ... - Continue reading
Canada: TFSA Non-Residence Contribution Tax Cancellation – A Toronto Tax Lawyer Analysis
For Canadians who are planning their retirement by investing their savings, the Tax-Free Savings Account (TFSA) has become an important supplement to the Registered Retirement Savings Plan (RRSP) since its introduction in 2009. ... - Continue reading
India: Rules To ‘Secondary Adjustment’ Rationalized And Clarified
The concept of 'Secondary Adjustment' was introduced in Finance Act 2017 by introducing new Section 92CE in the Indian Income Tax Act (the Act) to align transfer pricing provisions with international best practices. ... - Continue reading
Switzerland: Amended Protocol Of Double Taxation Agreement Between Switzerland And USA
On 20 September 2019, Switzerland and the USA ratified the protocol of amendment of their double taxation treaty ("DTA"). ... - Continue reading
US IRS addresses expiration of temporary section 385 debt/equity regs
The US IRS on October 11 released IRS guidance addressing the expiration of debt-equity documentation temporary regulations under code Section 385. ... - Continue reading
