OECD issues welcome guidance on tax treaty issues arising from the COVID‑19 crisis
OECD has released guidelines concerning the COVID-19. Here's more. ... - Continue reading
Category: Tax Laws
European Union: Extension Of Tax Benefit For UK Nationals Receiving A Government Service Pension
Residency in Cyprus when you are a UK national. ... - 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
First Look: US IRS publishes final and proposed regulations on hybrid mismatches
On the 8th of April 2020, the Internal Revenue Service (IRS) presented its laws on hybrid arrangements, which would strengthen its efforts against tax avoidance by multinationals. ... - Continue reading
OECD lists tax policy measures enacted by 90 countries in response to COVID-19 pandemic
The COVID-19 pandemic has caused countries to review and adjust their tax laws in order to better cope with the changes. Many of those measures can be found in the spreadsheet that the OECD has published. ... - Continue reading
Temporary Work Locations in a Permanent Establishment World
The COVID-19 crisis has caused quite some chaos in the world right now. As we find ourselves homebound, there are also employees trapped in foreign countries to them. In such a case, what happens to the link between tax presence and tax residency? Here is brief discussion. ... - Continue reading
Indonesia: Indonesia And Singapore Sign Updated Double Taxation Avoidance Agreement
Indonesia and Singapore sign newest double tax avoidance treaty. ... - Continue reading
FBR receives 10,000 income tax returns in virus downturn
10,000 income tax returns received by the Federal Board of Bureau during the COVID-19. ... - Continue reading
Dutch corporate tax residency and substance may be affected by COVID-19 quarantine and travel restrictions
Restrictions generated from the new pandemic is affecting a whole range of activities. This article focuses on its effects on tax residency in Netherlands. ... - 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
First Look: OECD considers impact of COVID-19 mobility restrictions on tax treaties
OECD issues more tax information in wake of the COVID-19. ... - Continue reading
OECD issues international tax guidance in the wake of COVID-19
The guidance, issued on April 3, is based on a careful analysis of the international tax treaty rules. ... - Continue reading
Ireland: COVID-19 Ireland Update: Tax Residence Considerations In Light Of COVID-19 Travel Restrictions
An examination of travel restrictions with regard to Irish tax residence of Irish companies and funds. ... - Continue reading
Value added textile demands zero rated sales-tax regime
The value added textile export sector has demanded the government to revive zero-rated sales-tax regime and reinstate SRO 1125 in its true spirit to address the industries’ liquidity problems. ... - Continue reading
OECD should pause digital tax negotiations, US business group says
The United States Council for International Business (USCIB) suggests temporary halt to negotiations around digital tax handling for multinationals. ... - Continue reading
HMRC to raise standard of conduct among tax advisers
The HMRC is set to raise standards among tax advisers after an independent review slammed the "reprehensible" behaviour of some professionals. ... - 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
Canada: Alta Energy: FCA Confirms That Treaty Shopping Is Not Abusive (For Now …)
The Federal Court of Appeal of Canada concluded tax investigations case in favour of Alta Energy. ... - Continue reading
Massive risks to world economy as virus battle rages
Economists warn about one of the worst recessions in history following the COVID-19 pandemic crisis. This could have an especially bitter outcome in countries with weaker employee rights like the United States. ... - Continue reading
Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak
Updates on countries offering tax relief all over the world. ... - Continue reading
Finance bill passed ahead of coronavirus lockdown
Here are the amendments and clarifications concerning tax residence and dividend distribution tax. ... - Continue reading
UK: Budget 2020 – Analysis
Main tax highlights of UK's Budget of 11 March 2020. ... - Continue reading
Australian High Court clarifies definition of “associate” in BHP Billiton tax dispute.
BHP Billiton's case puts Australia’s controlled foreign corporation laws into better perspective. ... - Continue reading
UN launches panel to tackle illicit finance
The United Nations has launched the High-Level Panel on Financial Accountability, Transparency and Integrity (FACTI) to address corporate tax abuse and other illicit financial flows. ... - Continue reading
Seychelles to reform tax rates after OECD report
Seychelles set to implement new tax laws in order to improve its tax system after recommendations from the OECD. ... - Continue reading
Cayman Islands: Cayman Islands Update: AEOI 2020 Amendments
Here are changes in tax laws concerning the Automatic Exchange of Information. ... - Continue reading
Nigeria’s Tax Appeal Tribunal decides Prime Plastichem transfer pricing case
A first transfer pricing case in Nigeria offers a glimpse of the treatment of the latter. ... - Continue reading
Poland issues controversial transfer pricing risk assessment rules
New transfer pricing laws issued in Poland might not be too pleasant to multinationals' ears. Read on to know more. ... - Continue reading
Pakistan tax collection 62pc below its potential: IMF
Resident Chief of IMF, Teresa Daban Sanchez, has stated that Pakistan is not being efficient enough tax-wise. Here's more to it. ... - Continue reading
Pakistan recovers billions from untaxed offshore funds
And hop! - Rs1.8bn from untaxed offshore funds into Pakistan's possession. ... - Continue reading
Worldwide: Cyprus Ratifies The Base Erosion And Profit Shifting Multilateral Instrument Issue
On January 2020, Cyprus signed its agreement of the MLI. ... - Continue reading
Norway proposes new withholding tax on some related-party payments
Authorities of Norway come up with new withholding tax rules. ... - Continue reading
Cyprus: Cyprus Extends Deadline For Payment Of Overdue Taxes
Good news for Cypriot taxpayers - Announcement of extended period for payment of overdue taxpayers. ... - Continue reading
OECD releases 79 public comments responding to review of country-by-country reporting scheme
Is a public country-by-country reporting of multinationals' tax information to be expected soon? ... - Continue reading
HMRC cracks down on hidden foreign income
HMRC has doubled down on its campaign against taxpayers with undeclared foreign income. ... - Continue reading
India: DENIAL OF TAX TREATY BENEFITS- ARE GRANDFATHERED INVESTMENTS FAIR GAME?
A recent ruling by the Authority for Advance Rulings (AAR) in the case of Bidvest has stirred the proverbial hornets' nest when it comes to the issue of treaty protection, and has reignited the debate of substance over form when it comes to availing the benefits of a tax treaty. ... - Continue reading
Tax residency rules for NRIs changed
Budget 2020 and taxation of non-resident Indians. ... - Continue reading
EU launches campaign to tackle tax evasion
The European Union ups its game by coming up with more initiative to fight off tax evasion. ... - Continue reading
Tax collection on cash withdrawal dives 63 percent
This sharp decline was because of the exemption from the levy given to active taxpayers. ... - Continue reading
AMLA, Bank Secrecy Law for overhaul
When forces join together to tackle Anti-Money Laundering and the Bank Secrecy. ... - Continue reading
Norway consulting on new withholding tax on interest, royalties
Norway’s Finance Ministry is consulting shareholders on a new proposal to introduce withholding tax on certain payments to non-resident related parties. ... - Continue reading
Cayman Islands: Update In Respect Of Automatic Exchange Of Information (“AEOI”)
Information on changes in laws concerning the Automatic Exchange of Information (AEOI). ... - Continue reading
OECD issues MAP peer review reports for further eight jurisdictions
The OECD on February 24 published stage 1 mutual agreement procedure (MAP) peer review reports of the following eight jurisdictions: Brunei Darussalam, Curaçao, Guernsey, Isle of Man, Jersey, Monaco, San Marino, and Serbia. The reports highlight how well these jurisdictions are implementing the base erosion and profit shifting (BEPS) Action… – Continue reading
Lebanon passes law to lift banking secrecy
Lebanon’s Justice Minister Marie-Claude Najm said on Thursday that the Lebanese cabinet has approved a draft law to lift banking secrecy, MTV local TV channel reported. Also, Lebanon’s financial prosecutor Ali Ibrahim froze the assets and properties of 20 Lebanese banks. Lebanon has lately witnessed a shortage in U.S. currency… – Continue reading
India Budget 2020: The key takeaways
Here are some important tax proposals for India's 2020 Budget. ... - 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
UN forms panel to help battle tax evasion, money laundering
Thought leaders from across the globe on Monday joined a UN panel tasked with making recommendations to fix the financial system that lacks effective ways to deal with tax evasion, tax avoidance, money laundering and corruption. The High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030… – Continue reading
Mexico: 2020 Mexican Tax Reform
A few changes have been made to the Mexican tax laws for 2020. Here are the highlights. ... - Continue reading
