Archive

South Africa announces 2013/14 budget [TAX ALERT]

March 27, 2013. Tags: budget, South Africa

The South African Minister of Finance delivered his 2013/14 Budget Speech on 27 February 2013. This Alert summarizes the proposals that may impact foreign investors. Further details …

GAAR rising

March 27, 2013. Tags: anti-abuse, anti-avoidance, GAAR, tax administration, tax avoidance

With GAAR now being introduced in several countries around the globe, what does this mean for business?

Cyprus and European Union: Government submits nine new draft laws to Parliament to ensure EU bailout

March 26, 2013. Tags: Cyprus, European Union, Financial Services

On 21 March 2013, the Cypriot Government submitted nine new draft laws to the Parliament, in the context of the EU bailout scheme, which is …

United Kingdom: Budget for 2013–14 – business and property taxation measures to be included in Finance Bill 2013

March 26, 2013. Tags: budget, business tax, property taxation, United Kingdom

Finance Bill 2013 will be published on 28 March. Set out below are some of the main tax measures relating to business and property taxation. Unless …

Finland: tax plans for 2014–17 – corporate income tax rate reduced to 20%

March 26, 2013. Tags: corporate tax, Finland, income tax

On 21 March 2013, the Government announced that it had reached an agreement on its tax plans for the tax years between 2014 and 2017. One …

Stronger global markets and macroeconomic conditions drive an improved IPO outlook for 2013

March 26, 2013. Tags: Growth, IPO

US most active region while Asia IPO activity drops by almost half. Europe shows positive momentum in some countries.

India issues Finance Bill 2013 [TAX ALERT]

March 26, 2013. Tags: budget, corporate tax, India, international tax

The Finance Bill (FB) 2013 was presented as part of the Union Budget for 2013-14 by the Finance Minister on 28 February 2013. This alert summarizes …

European Central Bank decides to maintain emergency help to Cyprus only until 25 March 2013

March 25, 2013. Tags: Cyprus, European Union

On 21 March 2013, the ECB Governing Council decided to maintain the current level of Emergency Liquidity Assistance (ELA) requested by the Central Bank of …

Russia: Ministry of Finance confirms documents required to apply VAT exemption to letting of property to branches or representative offices of foreign entities

March 25, 2013. Tags: Russia, VAT

On 28 February 2013, the Ministry of Finance issued Letter No. 03-07-08/5901, clarifying the documents required for a lessor to claim the VAT exemption on …

United States: IRS updates frequently asked questions on reporting uncertain tax positions

March 25, 2013. Tags: income tax, IRS, tax positions, tax returns, United States of America, UTP

The US Internal Revenue Service (IRS) has updated frequently asked questions (FAQs) regarding the requirement to report uncertain tax positions (UTPs) on IRS Schedule UTP. The …

Hong Kong announces 2013 budget [TAX ALERT]

March 25, 2013. Tags: budget, Hong Kong

The Hong Kong Financial Secretary, John Tsang, announced his 2013 budget on 27 February 2013. This Alert summarizes the proposals that may impact foreign investors. Further details …

Pharma’s China customs challenge

March 25, 2013. Tags: China, customs and trade, life science, tax compliance

What customs issues arise from dealing with China and how is dialogue around them progressing?

Norway: committee of experts appointed to evaluate corporate income tax system

March 22, 2013. Tags: income tax, Norway

On 15 March 2013, the Ministry of Finance announced that the Government has appointed a committee of experts to evaluate the Norwegian corporate tax system …

United Kingdom: Budget for 2013–14 – Chancellor’s Statement

March 22, 2013. Tags: budget, corporate tax, United Kingdom

The Budget for 2013–14 was presented to Parliament by the Chancellor of the Exchequer on 20 March 2013, and is available on HM Treasury website …

Cypriot Parliament rejects EU bailout scheme and bank levy

March 22, 2013. Tags: Cyprus, European Union

On 19 March 2013, the Cypriot Parliament rejected the EU bailout scheme and the bank levy decided by the recent Eurogroup of 15 March 2013.

German legislative developments: Taxation of portfolio dividends – 2013 Annual Tax Act [TAX ALERT]

March 22, 2013. Tags: dividends, Germany, tax law

There are several important German tax legislative developments in various stages that may be of interest to multinationals. One measure under consideration would result in the …

Why tax gap figures are a useful indicator for authorities [VIDEO]

March 22, 2013. Tags: tax, tax policy

Despite the risk of misinterpretation, tax gap figures still provide a meaningful benchmark for authorities, says Dave Hartnett.

Spain and Dominican Republic: details of tax treaty

March 21, 2013. Tags: dividends, Dominican Republic, income tax, Spain, treaty, withholding tax

Details of the Dominican Republic–Spain Income Tax Treaty and Protocol, signed on 16 November 2011, have become available. The treaty was concluded in the Spanish language. …

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