India: Reduces tax rate on foreign borrowings
The Indian government has lowered the taxes charged on money borrowed by Indian companies in foreign currency. The changes are included in Finance Act 2012, which amends section 115A of the Income Tax Act and inserts a new section, 194LC, in the
See MoreDTA between Portugal and Uruguay enters into force
According to media reports, the double taxation agreement (DTA) signed between Portugal and Uruguay on November 30, 2009, entered into force on September 13,
See MoreDTA between Czech Republic and Luxembourg under negotiations
The Czech Republic and Luxembourg are to hold a second round of negotiations towards a double taxation agreement (DTA) over a four-day period beginning on October 2,
See MoreIsle of Man and Singapore Sign DTA
On September 21, 2012, Singapore and the Isle of Man signed a double taxation agreement which also incorporates the internationally-agreed standard for the exchange of information for tax purposes. The signing ceremony took place at the Singapore
See MoreIndia: Approves investor tax relief scheme
India's Finance Minister Shri. P. Chidambaram has approved a new tax relief scheme targeted at first time retail investors in the securities market. The Rajiv Gandhi Equity Saving Scheme (RGESS) will provide tax benefits to those investing up to
See MoreDTA between Lithuania and Qatar
According to media reports, Lithuania's President on September 7, 2012, authorized the signing of a double taxation agreement (DTA) between Lithuania and
See MoreFrance Clarifies New Corporate E Filing Rules
On 21 September 2012, the French finance ministry has published details of the new Internet reporting procedures and obligations for all companies in France subject to corporation tax. Irrespective of the amount of turnover, all companies in France
See MoreFinland: Outlines Tax Changes
On 20 September 2012 it was reported that the Finnish finance ministry has recently published the country’s 2013 budget review, detailing the government’s tax plans for next year. The government plans to implement tough tax measures to
See MoreBrazil: Plans Tax Cuts For 2013
It was reported on 19 September 2012 that the Brazilian government has confirmed two tax measures for next year designed to reduce the tax burden on many businesses after an alarming fall in economic growth. The government has approved plans to
See MoreEcuador: National Assembly approves the pending DTA with Uruguay
According to media reports, the National Assembly of Ecuador approved the pending Ecuador-Uruguay double taxation agreement (DTA) and an accompanying Protocol on September 11,
See MoreFrance May Ease Proposed 75% Income Tax
It was reported on 11 September 2012 that, determined to ensure that the measure does not lead to a massive exodus of top executives, the French government now plans to soften conditions for its 75% tax on top earners, although the final decisions
See MoreSouth Africa Closes Loopholes in New Dividend Tax
On 6 September 2012 it has been published that South Africa’s Minister of Finance has announced the closing of tax avoidance schemes which have arisen with regard to the operation of the new dividends tax. The dividends tax came into effect on
See MoreTIEA signed between Argentina and the Bahamas becomes effective immediately
According to media reports, the tax information exchange agreement (TIEA) signed between Argentina and the Bahamas entered into force on July 27, 2012, and became effective
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