News

Australia releases dividend washing integrity changes exposure draft legislation for comment [TAX ALERT]

Australia releases dividend washing integrity changes exposure draft legislation for comment [TAX ALERT]

April 16, 2014. Tags: , , ,

Australia’s Treasury released exposure draft legislation (ED), together with accompanying explanatory materials, on 24 March 2014 concerning the previously announced proposals to amend the income …

Argentina, Switzerland sign new tax treaty [TAX ALERT]

Argentina, Switzerland sign new tax treaty [TAX ALERT]

April 16, 2014. Tags: , , ,

On 20 March 2014, Argentina and Switzerland signed a new Convention for the Avoidance of Double Taxation with respect to Taxes on Income and on …

OECD releases discussion draft on preventing treaty abuse under BEPS Action 6 [TAX ALERT]

OECD releases discussion draft on preventing treaty abuse under BEPS Action 6 [TAX ALERT]

April 16, 2014. Tags: , ,

On 14 March 2014, the Organisation for Economic Cooperation and Development (OECD) released a Discussion Draft in connection with Action 6 on treaty abuse under …

Belgium and Switzerland: protocol to treaty between Belgium and Switzerland signed

Belgium and Switzerland: protocol to treaty between Belgium and Switzerland signed

April 16, 2014. Tags: , ,

On 10 April 2014, Belgium and Switzerland signed an amending protocol to the Belgium–Switzerland Income and Capital Tax Treaty (1978) in Brussels.

China (People’s Rep.): extension of the due date of application for VAT refund or exemption

China (People’s Rep.): extension of the due date of application for VAT refund or exemption

April 16, 2014. Tags: , ,

The State Administration of Taxation (SAT) issued an announcement on 4 April 2014 (SAT Gong Gao [2014] No. 20) extending the date of the application …

Egypt: draft VAT law under discussion

Egypt: draft VAT law under discussion

April 16, 2014. Tags: ,

On 9 April 2014, the head of the tax authority announced that Egypt is in the process of introducing a VAT law that will replace …

UK delivers Budget 2014 [TAX ALERT]

UK delivers Budget 2014 [TAX ALERT]

April 15, 2014. Tags: ,

The Chancellor of the UK Exchequer, George Osborne, presented his 2014 Budget Report on 19 March 2014. An EY survey of business leaders and Tax Directors …

Spain releases report on proposal to reform the Spanish tax system [TAX ALERT]

Spain releases report on proposal to reform the Spanish tax system [TAX ALERT]

April 15, 2014. Tags: ,

The Spanish Government has announced its intention to carry out a reform of the Spanish tax system  for 2015. On 14 March 2014, the Committee of …

Spanish High Court rules Brazilian juros qualify for participation exemption [TAX ALERT]

Spanish High Court rules Brazilian juros qualify for participation exemption [TAX ALERT]

April 15, 2014. Tags: , , ,

The Spanish National Court (Audiencia Nacional) issued a resolution on 27 February 2014, declaring that income received by a Spanish entity from its Brazilian subsidiary …

China (People’s Rep.): taxation of interest on railway bonds

China (People’s Rep.): taxation of interest on railway bonds

April 15, 2014. Tags: , ,

The Ministry of Finance (MoF) and the State Administration of Taxation (SAT) jointly issued a notice on 29 January 2014 (Cai Shui [2014] No. 2) …

Sweden: spring budget 2014

Sweden: spring budget 2014

April 15, 2014. Tags: ,

In connection with the Spring Fiscal Policy Bill, which was presented by the Government on 9 April 2014, a proposal on how to finance the …

European Union: European Commission sets up expert group on taxation of cross-border activity of individuals

European Union: European Commission sets up expert group on taxation of cross-border activity of individuals

April 15, 2014. Tags: , ,

On 10 April 2014, the European Commission created an expert group to gather ideas on how to tackle any tax obstacles that hinder the cross-border …

Russia: tax implications in case of sale of shares by a foreign legal entity that are acquired by a resident individual – Federal Tax Service clarifications

Russia: tax implications in case of sale of shares by a foreign legal entity that are acquired by a resident individual – Federal Tax Service clarifications

April 14, 2014. Tags: , ,

On 4 March 2014, the Federal Tax Service issued Letter No. GD-4-3/3665 clarifying the tax treatment applicable to a nonresident legal entity which sales the …

United States: withholding certificate for foreign entities issued for FATCA

United States: withholding certificate for foreign entities issued for FATCA

April 14, 2014. Tags: , ,

The US Internal Revenue Service (IRS) has released a new IRS Form W-8BEN-E (Certificate of Status of Beneficial Owner for United States Tax Withholding and …

Luxembourg and European Union: bill to implement the automatic exchange of information on savings income under the current EU Savings Directive and the enlargement of the scope of the directive submitted to Parliament

Luxembourg and European Union: bill to implement the automatic exchange of information on savings income under the current EU Savings Directive and the enlargement of the scope of the directive submitted to Parliament

April 14, 2014. Tags: , , ,

On 18 March 2014, the Luxembourg Minister of Finance submitted to the Parliament a bill of law amending the laws of 21 June 2005 and …

Nigerian Tax Authorities issue transfer pricing guidance and forms [TAX ALERT]

Nigerian Tax Authorities issue transfer pricing guidance and forms [TAX ALERT]

April 14, 2014. Tags: , , ,

Nigeria’s Federal Inland Revenue Service Transfer Pricing (FIRS TP) Division is responsible for implementation of the country’s new Income Tax Transfer Pricing Regulations No.1 2012 …

Nigerian Investment Promotion Commission releases Pioneer Status Incentive Regulations [TAX ALERT]

Nigerian Investment Promotion Commission releases Pioneer Status Incentive Regulations [TAX ALERT]

April 14, 2014. Tags: ,

The Nigerian Investment Promotion Commission (NIPC), in exercise of its powers under section 30 of the NIPC Act, has released the Pioneer Status Incentive Regulations …

Protocol amending the Double Tax Treaty between Luxembourg and Korea is in force [TAX ALERT]

Protocol amending the Double Tax Treaty between Luxembourg and Korea is in force [TAX ALERT]

April 14, 2014. Tags: ,

Luxembourg and Korea signed a Double Tax Treaty on 7 November 1984 which entered into force on 26 December 1986. A Protocol amending this treaty …

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