Hong Kong: No Tax Cut for SMEs

May 31, 2012

It was reported on 31 May 2012, that the government will not introduce a lower profits tax rate for micro-enterprises. There were about 300,000 small and medium-sized enterprises (SMEs) in Hong Kong by the end of 2011, accounting for more than 98%

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Protocol signed between Latvia and Georgia on DTA

May 31, 2012

On 29th May 2012, Latvia and Georgia signed a Protocol amending their existing Double Tax

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Amendment to DTA between India and Japan enters into force

May 30, 2012

On May 24, 2012, the Indian government published a notification announcing the entry into force of an amendment to the DTA between India and Japan. The revised provisions became effective on April 1,

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UK: Tax Calculator App Launched

May 30, 2012

On 30 May 2012 it was reported that a new mobile phone application launched by HM Revenue and Customs (HMRC) will allow UK taxpayers to calculate how much tax they pay and how the government spends it. The app hints at the type of information which

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Slovakia Unveils Special Bank Tax Plans

May 30, 2012

Slovakia’s Prime Minister has recently announced plans to introduce a special windfall tax on banks and to extend the existing tax on banking deposits, as part of government efforts to reduce the budget deficit. The Government plans to introduce a

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Lithuania ratifies the DTA signed with India

May 29, 2012

Lithuania on May 4, 2012 ratified the double taxation agreement (DTA) the nation signed with

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Singapore and Portugal Sign TIE Protocol

May 26, 2012

A protocol to the existing double taxation agreement (DTA) between Singapore and Portugal was signed on May 28, 2012, and will enter into force after the completion of ratification procedures by both countries. The protocol was signed in Singapore

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Austria and Cyprus signed a Protocol to amend their existing DTA

May 24, 2012

According to the Austrian government, Austria and Cyprus signed a Protocol to amend their existing 1990 double taxation agreement (DTA) on May 21,

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Oman and the Czech Republic to begin negotiations towards a bilateral DTA

May 24, 2012

On June 5, 2012, Oman and the Czech Republic will begin negotiations towards a bilateral double taxation agreement (DTA), the Czech Embassy in Riyadh has

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DTA between Egypt and Ethiopia sent to Egypt’s parliament for final approval

May 23, 2012

On May 21, 2012, the pending double taxation agreement (DTA) between Egypt and Ethiopia was sent to Egypt's parliament for final

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Canada and Poland signed a Protocol to amend the existing DTA

May 23, 2012

On May 14, 2012, Canada and Poland signed a Protocol to amend the existing 1987 double taxation agreement (DTA). The Protocol in particular lowers the rates of withholding tax applicable under the

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TIEA between Czech Republic and Isle of Man entered into force

May 23, 2012

The tax information exchange agreement (TIEA) signed between the Czech Republic and the Isle of Man, entered into force on May 18, 2012, the Manx government has

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Negotiation concluded between China and Ecuador towards DTA

May 23, 2012

On 11th May 2012, China and Ecuador concluded four days of negotiations towards a double taxation agreement

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TIEA between Hungary and Kazakhstan

May 22, 2012

On 4th May 2012, Hungary and Kazakhstan signed a Tax information exchange

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Spain- New procedures on CIT and non-residents tax returns (regarding PEs)

May 22, 2012

By Order HAP/1023/2012 of 11 May 2012, the Ministry of Finance and Public Administrations of Spain approved the new forms, procedures and the stipulated periods for the corporate income tax (CIT) and the non-residents income tax returns (regarding

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US President forwards DTA between Chile and the United States to the Senate

May 21, 2012

On 17th May 2012, United States President Barack Obama forwarded the pending double taxation agreement (DTA) signed between Chile and the United States on February 4, 2010, to the Senate as part of the ratification procedures necessary to bring the

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India- introduction of an APA program

May 20, 2012

The Finance Minister of India introduced the Finance Bill, 2012, on 16 March 2012 in which with respect to transfer pricing, the introduction of an advance pricing agreement (APA) program as well as other transfer pricing-related items has been

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DTA between China and Ecuador under negotiation

May 18, 2012

China and Ecuador held the first round of their negotiations towards a double taxation agreement (DTA) during five days of meetings in Beijing, which concluded on May 11,

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