UK: Update on advance assurance for R&D tax relief

August 31, 2016

On 24 August 2016 HMRC held a webinar to provide an update on the advance assurance scheme for research and development (R&D) tax relief. The scheme which is aimed at small companies was launched in November 2015 and there have so far been more

See More

OECD: Discussion draft on branch mismatch structures

August 29, 2016

On 22 August 2016 the OECD released a discussion draft on branch mismatch structures under Action 2 of the OECD report on base erosion and profit shifting (BEPS). Comments are invited from interested parties by 19 September 2016. The discussion

See More

World Tax Brief: August 2016

August 28, 2016

UK Incentives: On 20 July 2016 the UK publishes updated statistics on claims for creative industry tax relief. The statistics include data for the film tax relief, high-end television tax relief, animation tax relief and video games tax relief

See More

Ukraine: Ministry of Finance clarified advance payments of corporate income tax on dividends

August 28, 2016

The Ministry of Finance (MoF) issued Guidance Letter No. 31-11130-09-10/21370 dated on July 25, 2016, explaining the corporate income tax treatment of dividends paid by Ukrainian residents. According to letter, dividends received by the companies

See More

Poland: Parliament passes amendments to the income tax laws

August 28, 2016

The lower chamber of the Polish Parliament (Sejm) approved a bill amending both the corporate income tax act and personal income tax on 22 July 2016.The following legislation and regulation changes will come into effect on 1 January 2017. Small

See More

UK: Large Business Survey 2015

August 27, 2016

On 25 August 2016 HMRC published the Large Business Survey 2015. The survey asked large businesses about various aspects of their relationship with HMRC. A telephone survey was conducted with 932 Heads of Tax and Directors of Finance of large

See More

Denmark: Danish Assessment Board issues ruling on profit allocation to permanent establishment

August 22, 2016

The Danish Assessment Board gave its ruling on 16 August 2016, in the case of SKM2016.353.SR on the correct profit allocation to a permanent establishment (PE) in the form of a construction company. Facts of the case: The taxpayer is a foreign

See More

UK: Consultation on making tax digital for unincorporated businesses

August 21, 2016

On 15 August 2016 HMRC issued a consultation document on Making Tax Digital: Bringing business into the digital age. The UK government announced at Budget 2016 that businesses, the self employed and landlords will be required by 2020 to update a

See More

Cyprus: Tax incentives for innovative and start-up companies

August 21, 2016

The Council of Ministers approved a package, on 27 July 2016, of tax incentives intended to boost innovative and start-up companies. The incentives include the package of an exemption of up to 50% of the taxable income of the investor for

See More

Finland: Ministry of Finance published budget proposal for 2017

August 21, 2016

The Ministry of Finance published its proposal for Budget 2017 on 12 August 2016. The tax measures will be discussed by the government on 31 August and 1 September 2016. Details of the tax measures are summarized below. The possibility for setting

See More

UK: Consultation on Soft Drinks Industry Levy

August 19, 2016

As part of the Budget for 2016 the UK government announced a new levy on soft drinks companies from April 2018. The Soft Drinks Industry Levy is to be charged on producers and importers of soft drinks that contain added sugar where the total sugar

See More

Turkey: Amendment in transfer pricing legislation

August 19, 2016

The Law No. 6728 on the amendment of certain laws for the improvement of the investment landscape has been published in the Official Gazette on 9 August 2016. This law amended certain transfer pricing provisions. Some of the provisions are given

See More

UK: Strengthening tax avoidance sanctions and deterrents

August 18, 2016

The UK government issued a discussion document on strengthening tax avoidance sanctions and deterrents on 17 August 2016. In recent years the UK government has taken steps to tackle tax avoidance by introducing tougher measures and structural

See More

Colombian National Tax Authority reminds procedure for filing TP informative return

August 18, 2016

DIAN reminded that the formal obligation to file an informative return will only be complied with if the transfer pricing informative return (Form 120) is digitally signed and submitted and as such mere submission of Form 1125 to DIAN through its

See More

Israel: CbC reporting, transfer pricing documentation in budget plan

August 17, 2016

The Ministry of Finance’s budget plan for 2017-2018 has been approved by the Israeli government on 12th August 2016 that includes tax legislative measures. This budget plan covers: CbC reporting requirement: General rule: The Israeli budget plan

See More

South Africa: SARS published Transfer Pricing documentation proposal for public comments

August 17, 2016

The South African tax authorities published for public comments a Draft Notice on additional Transfer Pricing record-keeping requirements. Where a person has entered into a potentially affected transaction, the aggregate of the transaction for the

See More

Ukraine: Tax authorities defines the controlled transaction

August 17, 2016

Recently the Ukrainian tax authorities issued a Guidance Letter No. 14491/6/99-99-15-02-02-15 regarding transactions with related non-residents of Ukraine, and transactions with residents of low-tax jurisdictions and sales of goods through a

See More

Israel: Tax provisions in proposed budget plan for 2017-2018

August 17, 2016

The budget plan proposal for 2017-2018 announces significant changes in accordance with international taxation, and would be appropriate for individuals, multinational corporations operating in Israel and Israeli corporations operating abroad. The

See More