Argentina: New “white” list of countries published
Argentina’s Federal Tax Authorities (AFIP) issued General Resolution 3576/2013 (published in the Official Gazette on 31 December 2013 covering the new list of the countries, jurisdictions, territories and tax systems that are considered
See MoreVietnam: APA regime procedures and rules
Vietnam’s Ministry of Finance has issued detailed guidance in Circular 201/2013/TT_BTC dated 20 December 2013, for the advance pricing agreement (APA) regime, which was added to the income tax law in July 2013. The new guidance is effective from 5
See MoreSlovakia: Corporate tax rate reduction, international tax rules changed
The Finance and Budget Committee of the National Council of the Slovak Republic recently proposed some changes to the Slovak Income Tax Act. The proposed changes cover reduction in the corporate income tax rate, carry forward of tax losses, transfer
See MoreProtocol to Canada- France DTA enters into force
The Protocol amending the Canada-France DTA signed on 2 February 2010 entered into force on 27 December
See MoreNetherlands: New decree on arm’s length principle published
The Netherlands State Secretary for Finance issued Decree No. IFZ 2013/184M on 26 November 2013 (Official Gazette No. 32854) which relates to the application of the arm’s length principle and the OECD Transfer Pricing Guidelines. The revised
See MoreFrance: Tax provisions enacted
The French Parliament passed the tax legislative packages for 2014 on 19 December 2013, which were subsequently scrutinized by the Constitutional Court on 29 December 2013 and eventually enacted into law on 30 December 2013. Most of the key
See MoreBulgaria: Intrastat reporting threshold changed in 2014
Bulgaria has changed its 2014 Intrastat reporting thresholds with effect from 1 January 2014. The current arrivals (imports from other EU member states) threshold of BGN 240,000 has been increased to BGN 360,000; while current despatches (exports to
See MoreBelgium: Proposed changes to expatriate tax rules
The Belgian government has proposed legislation to amend the rules for determining the non-resident individual (personal) income tax as applicable to expatriates. Proposed changes include the repeal of personal exemptions for expatriates benefiting
See MoreArgentina: Transfer Pricing Documentation Requirements
From 3 January 2014 there is a monthly reporting requirement for certain domestic transactions on the Argentinian market using Form F968. The criteria for transactions to be included in the monthly report are similar to those that apply to foreign
See MoreUK: Increase in 2014 intrastat reporting thresholds
The United Kingdom has updated the annual reporting thresholds for Intrastat declarations from 1 January 2014. For arrivals (import of goods from other EU member states) the threshold will rise from GBP600,000 to GBP1,200,000 per annum; and for
See MoreBelgium: Increase in resident VAT registration threshold
Belgium has proposed an increase in the resident EU VAT registration threshold. This will rise to EUR 15,000 from the current EUR €5,580 at a date in early 2014 to be confirmed. The European Commission to reduce the compliance paperwork and
See MoreHungary: VAT rules change
The European Court of Justice (ECJ) has ruled against current Hungarian rules on on the loss of the VAT exemption for exports. Under the present rules, exporters of goods from Hungary must ensure that goods leave Hungary within 90 days to qualify
See MoreArgentina-Spain DTA enters into force
On December 23, 2013, Argentina’s embassy in Spain confirmed that Argentina and Spain have exchanged instruments of ratification to bring the double taxation agreement (DTA) signed between the two nations into
See MoreUruguay: capital gains tax exemption on transfer of bearer shares repealed
The capital gains tax exemption on the transfer of bearer shares issued by Uruguayan companies has been removed by Art. 364 of Law No. 19,149, dated 24 October 2013.
See MorePortugal: Azores raises VAT
The Azores (a Portuguese independent region) has increased its standard Value Added Tax (Imposto sobre o Valor Acrescentado) rate from 16% to 18%, with effect from 1 January 2014. Further, the reduced VAT rate of 9% (IVA intermedio) on water, fuel,
See MoreHong Kong: Court of Final Appeal decision on unrealized revaluation gains
Hong Kong’s Court of Final Appeal (CFA) ruled that year-end unrealized revaluation gains on listed securities held for sale were not taxable in Hong Kong. In a case called Nice Cheer Investment Limited (NCIL), the CFA rejected the CIR’s
See MoreNew Zealand: Non-residents must register for GST from April 2014
The New Zealand Inland Revenue Department has set out mandatory requirement for non-resident taxable persons to register for the Goods and Services Tax (GST) from 1 April 2014 if they provide local taxable supplies. The criteria to meet to register
See MoreLatvia: Taxable base for social security contributions approved
The Latvian regulations that set the maximum taxable base for social security contributions, set at EUR 46,400 for 2014, entered into force on 1 January 2014. This amount will be adjusted
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