United States and Belgium have agreed to expand the scope of their DTA

August 30, 2012

The US tax authority, the Internal Revenue Service, announced on August 20, 2012, that the United States and Belgium have agreed to expand the scope of their 2006 double taxation agreement (DTA) to also include taxes imposed at municipal level in

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Australian Parliament Passes Fund Manager Tax Reforms

August 29, 2012

The Australian government has loosened the tax requirements on the financial services industry in an effort to remove any barriers to the use of Australian fund managers by international investors. The Tax Laws Amendment (Investment Manager Regime)

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Colombia: Transfer pricing documentation and APA requirements amended

August 29, 2012

It was reported on 29 August 2012 that, decree 1602, published in the Official Gazette of 27 July 2012, modifies some of the transfer pricing regulations established by Decree 4349 of 2004. Some of the most important modifications, applicable as

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Argentine Senate approves the TIEA signed between Argentina and Uruguay

August 24, 2012

On August 21, 2012, the Argentine Senate approved legislation relating to the tax information exchange agreement (TIEA) signed between Argentina and Uruguay on April 23, 2012, publishing law 26,758 in its Official

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TIEA between Canada and Costa Rica entered into force

August 23, 2012

The tax information exchange agreement (TIEA) signed between Canada and Costa Rica on August 11, 2011, entered into force on August 14, 2012, the Canadian Ministry of Finance confirmed on August 20,

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Ukraine’s Cabinet approves the signing of a DTA with Ireland

August 22, 2012

On August 15, 2012, Ukraine's Cabinet approved the signing of a double taxation agreement (DTA) between Ukraine and

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DTAs between Portugal, East Timor and Panama ratified by Portugal

August 15, 2012

According to Portugal's Official Gazette, the double taxation agreements (DTAs) signed between Portugal and East Timor, and Portugal and Panama were ratified by Portugal on August 9,

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UK: Google under Fire for UK Tax liability

August 14, 2012

It has been published on 14 August 2012 that Google bosses could be hauled before the UK parliament to answer questions on the technology giant's tax affairs, as concerns mount over revelations about the company's low corporate tax bills. According

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Thailand to Keep VAT at 7%

August 10, 2012

It has been published on 10 August 2012 that Thailand’s government has decided to postpone the planned increase in the value added tax (VAT) rate by two years to help stimulate the consumer spending and private sector investment, which are

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Italy achieves increased tax revenues in first half 2012

August 09, 2012

Following the tax increases which formed the major part of recent packages intended to reduce Italy’s fiscal deficit, it was perhaps unsurprising when the Italian Economy and Finance Ministry was able to announce that tax revenues in the first

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Bulgaria approves draft DTA initialled with Switzerland

August 08, 2012

On July 25, 2012, the government of Bulgaria approved the draft double taxation agreement (DTA) initialled between Bulgaria and Switzerland on November 28,

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Spain ratifies the pending DTA and accompanying Protocol with Germany

August 08, 2012

Spain on July 30, 2012, published an Order in its Official Gazette ratifying the pending double taxation agreement (DTA) and an accompanying Protocol signed between Spain and Germany on February 3,

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Philippines pushes for increased 2013 revenue with no new taxes

August 08, 2012

As President Benigno Aquino’s government abides by his original promise not to introduce any new taxes in the first three years of his administration, the Philippines’ Bureau of Internal Revenue (BIR) will have to rely on improved tax compliance

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DTA between Germany and Turkey enters into force

August 07, 2012

The Turkish Ministry of Foreign Affairs has announced that the double taxation agreement (DTA) signed between Germany and Turkey on September 19, 2011, entered into force on August 1, 2012, following the completion of both nations' ratification

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Vietnam Clarifies Tax Reductions for SMEs

August 06, 2012

On 6 August 2012 it was published that, in a decree to take effect on September 20, 2012, the Vietnamese government has confirmed that small and medium-sized enterprises (SMEs) will be given a 30% reduction in corporate income tax (CIT) this

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South Korea Plans to Raise Minimum Corporate Tax Rate

August 02, 2012

On 2 August 2012 it was reported that, following a policy meeting between the South Korean government and the ruling Saenuri Party, it is planned to increase the minimum corporate tax rate payable by the largest companies. At present, companies in

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Philippines Urged To Abolish Common Carrier Tax

August 02, 2012

The Board of Airlines Representatives is urging the Philippines to abolish, as soon as possible, the common carrier’s tax (CCT) on airlines flying out of the country, to benefit both the foreign trade and tourism sectors. In May this year, the

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Russia: Polymetal Loses Transfer Pricing Dispute

August 01, 2012

On 1 August 2012 it was published that the Supreme Arbitration Court of Russia has recently ordered Polymetal International, a Russian gold and silver producer, to pay RUB883m in additional taxes, penalties and interest as part of a transfer pricing

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