News
Italy: extension of tax incentives for inward expatriates – further clarifications
May 15, 2012. Tags: expatriate tax, income tax, Italy, tax incentives
On 4 May 2012, Italian tax authorities (ITA) issued Circular No.14/E, providing further clarification on tax incentives for inward expatriates, aimed to attract highly skilled …
Netherlands: proposal to increase court fees withdrawn
May 15, 2012. Tags: budget, law, The Netherlands
On 26 April 2012, it was decided not to increase court fees (griffierechten). Court fees must be paid in civil and administrative (e.g., tax) cases, at …
Hungary: reverse charge mechanism to agricultural products, crisis tax and convergence program
May 15, 2012. Tags: Hungary, income tax, indirect tax, tax policy
Reverse charge mechanism to agricultural products The Ministry of National Economy has recently submitted to the Parliament a bill introducing the reverse charge mechanism to the …
Slovenia: amendments to Corporate Income Tax Law approved
May 14, 2012. Tags: corporate tax, income tax, investment, Slovenia
On 17 April 2012, the Parliament approved amendments to the Corporate Income Tax Law. However, in respect of the increase of the maximum allowance for investments …
China: income tax incentives for software and integrated circuits enterprises renewed and extended
May 14, 2012. Tags: China, income tax, software, tax incentives
The Ministry of Finance and State Administration of Taxation (SAT) issued a Notice on 20 April 2012 (Cai Shui [2012] No. 27) to renew the …
Australia: budget for 2012/13 – details
May 14, 2012. Tags: Australia, budget, corporate tax, personal tax
The Budget for 2012–13 was handed down by the Treasurer on 8 May 2012. Details of the Budget, which, unless otherwise indicated, will apply from 1 …
Australia: tax relief for small businesses announced
May 11, 2012. Tags: Australia, small business, tax incentives, tax losses
On 7 May 2012, the Assistant Treasurer announced several tax reliefs primarily designed to help small businesses and to encourage them to invest and grow. The …
Iran: standard VAT rate increased
The tax office has recently issued a press release stating that the standard VAT rate is increased from 4% to 5%. The new rate is effective …
Luxembourg and Kazakhstan: protocol to treaty signed
May 11, 2012. Tags: capital tax, income tax, Kazakhstan, Luxembourg, treaty
On 3 May 2012, Luxembourg and Kazakhstan signed an amending protocol to the not yet in force Kazakhstan–Luxembourg Income and Capital Tax Treaty (2008).
India: budget 2012–13 – implementation of GAAR postponed
May 10, 2012. Tags: budget, India, tax avoidance
The Government of India has announced that the General Anti-Avoidance Rule (GAAR), which was announced as part of Budget 2012–13, has been postponed to 1 …
Czech Republic: changes to investment incentives’ regime approved by Parliament
May 10, 2012. Tags: Czech Republic, income tax, tax incentives
On 25 April 2012, a bill introducing changes to the investment incentives’ regime was approved by the Senate. To become law, it must be signed by …
Austria and Slovenia: protocol to treaty ratified by Slovenia
May 10, 2012. Tags: Austria, Slovenia, treaty
On 26 April 2012, the Government of Slovenia ratified the amending protocol signed on 7 October 2011, to the Austria–Slovenia Income and Capital Tax Treaty …
Latvia: law amendments implementing Mutual Assistance Directive enter into force
May 9, 2012. Tags: Latvia, mutual assistance, tax law
On 1 April 2012, amendments to the Law on State Revenue Service and to the Law on Taxes and Fees implementing the Mutual Assistance Directive …
Treaty between Canada and New Zealand signed
May 9, 2012. Tags: Canada, income, New Zealand, treaty
On 3 May 2012, the Canada–New Zealand Income Tax Treaty (2012) was signed. Once in force and effective, the new treaty will replace the Canada–New Zealand …
United States: third quarter update to 2011-2012 Priority Guidance Plan released
May 9, 2012. Tags: Finance plan, foreign, United States
The US Treasury Department and the Internal Revenue Service (IRS) have issued the third quarter update to the 2011–2012 Priority Guidance Plan. The original 2011–2012 Priority …
Czech Republic, Russia: social security treaty signed
May 8, 2012. Tags: Czech Republic, Russia, social security, treaty
On 8 December 2011, the Czech Republic–Russia Social Security Treaty (2011) was signed.
Rwanda: new tax regime for small businesses introduced
May 8, 2012. Tags: income tax, Rwanda, small business, tax law
On 18 April 2012, the Government approved a draft law amending Tax Law 16/2005 of 18 August 2005 on income taxes. The main changes are as …
United States: IRS releases legal advice memorandum on treaty exemption for foreign government employees
May 8, 2012. Tags: income tax, treaty, United States
The US Internal Revenue Service (IRS) released a Chief Counsel Advice Memorandum (generic legal advice memorandum) regarding the application of income tax treaties to the …
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