WTO: services trade database to be developed

August 27, 2013

The World Trade Organization (WTO) and the World Bank have agreed to jointly develop a database on international trade in services. Trade in services is becoming ever more important globally, especially in developed countries, and constitutes around

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Vietnam and New Zealand sign double tax agreement

August 27, 2013

New Zealand signed a new double tax agreement (DTA) with Vietnam on August 5, 2013. When will become effective, dividends will be subject to a maximum withholding tax of 5% where the beneficial owner is a company directly holding at least 50% of the

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UN: provisional agenda for meeting of the committee of experts on international taxation

August 27, 2013

The UN’s Economic and Social Council has released the date and draft agenda for the ninth session of the UN committee of experts on international cooperation in tax matters. The meeting is to be held in Geneva from 21 to 25 October 2013. The

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Ukraine and Malta to sign double tax convention

August 27, 2013

The governments of Ukraine and Malta are intending sign a convention on the avoidance of double taxation and the prevention of tax evasion. It approved by Ukraine’s Cabinet of Ministers on July 24, 2013. Under the draft convention, the withholding

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UK has removed the VAT exemption for business supplies of research

August 27, 2013

With effect from 1 August 2013 the UK has removed the exemption from value added tax (VAT) for business supplies of research between eligible bodies.  Business research for this purpose is defined as research that is provided in return for

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UK: HM Revenue and Customs (HMRC) revises SDLT group relief regulations

August 27, 2013

The UK tax authority HMRC has introduced a clarification confirming that intra-group transactions are eligible for group relief related to Stamp Duty Land Tax (SDLT). The declaration follows a meeting by HMRC with representative bodies concerning

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UK: Consultation on measures to combat artificial tax avoidance

August 27, 2013

The UK has published a consultation document entitled “Raising the Stakes on Tax Avoidance”. Comments are invited from interested parties on further measures to discourage the propagation of artificial tax avoidance schemes.  The closing date

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UK: consultation on tax free childcare

August 27, 2013

In the 2013 Budget measures the UK announced the introduction of tax free childcare for working families. The objective of the scheme would be to give the equivalent of basic rate tax relief for the costs of childcare. A consultation document has

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Malta and Turkey DTA entered into force

August 27, 2013

The Income Tax Treaty (2011) between Malta and Turkey for the avoidance of double taxation entered into force on 13 June 2013.  The treaty generally applies from 1 January 2014. OECD Model Tax Treaty is broadly followed in this

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Russia- Clarification on documentation to verify appropriate transfer pricing method

August 27, 2013

The Ministry of Finance of Russia has issued public letter No. 03-01-18/26965 in relation to transfer pricing documentation on July 11, 2013 that clarifies process for preparing and submitting transfer pricing documentation for a particular

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Protocol to DTA between India and Morocco signed

August 27, 2013

India and Morocco have signed a protocol to their Double Taxation Avoidance Convention.  This protocol will bring the information exchange provisions under the treaty into line with international standards. There is an increasing international

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Poland: Parliament rejects proposal for tax relief

August 27, 2013

The parliament of Poland voted against the proposal of changes in the Law on Freedom of Establishment exempting start-up entrepreneurs from the obligation to pay income tax and social security contributions on 12 July

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OECD: New reports by Global Forum on Tax Transparency

August 27, 2013

The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has recently issued reports resulting from peer reviews of the tax systems of a number of jurisdictions. Thirteen jurisdictions were reviewed and assessed in

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India: CBDT recommends furnishing of additional information to claim tax treaty benefits

August 27, 2013

India’s Central Board of Direct Taxes (CBDT) allotted Notification No. 57 of 2013 on 1st August 2013 and this notification will come into force as of 1st April 2013. The Notification proposes information that is required if a taxpayer is to

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India: Criteria for manual selection of cases for transfer pricing audit

August 27, 2013

Instruction No. 10 of 2013 has been issued by the Central Board of Direct Taxes (“CBDT”) on 5th August 2013 which specifying the procedures and criteria for manual selection of cases by the tax administration for audit/ scrutiny for financial

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Hungary: amendment to transfer pricing documentation rules

August 27, 2013

The Ministry of Finance of Hungary issued an amendment of Decree No. 22/2009 related to transfer pricing documentation requirements. The amendment effectively increases the validity of an APA to 6 years. Under the new rules taxpayers recharging the

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Finland: Budget proposal for 2014

August 27, 2013

On 8 August 2013, the Finnish Ministry of Finance published its Budget proposals for 2014. All the proposals will be discussed by the government on 28-29 August 2013 before the final set of proposals is presented to parliament in September 2013. If

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ECJ: Referral in respect of vendor reclassified as taxable person

August 27, 2013

The Romanian Court of Appeal has referred a question to the European Court of Justice (ECJ) in respect of a supply of immovable property by a vendor who was later reclassified as a taxable person. The questions relate to the taxable amount of the

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