Peru: Amendments to income tax rates

December 31, 2016

In Peru, Law Decrees Nos. 1258 and 1261 establishing certain amendments to the Income Tax Law were published in the Official Gazette on 8 and 10 December 2016 respectively. According to the amendments the general corporate income tax rate has been

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DTA between Kazakhstan and Serbia enters into force

December 30, 2016

The Income and Capital Tax Treaty (2015) between Kazakhstan and Serbia entered into force on 24th November 2016 and generally applies from 1st January

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Taiwan: Ministry of Finance introduces electronic filing for non-resident taxpayers

December 30, 2016

The Ministry of Finance (Gao Xiong Tax Bureau) has announced on its website that non-resident taxpayers may file tax returns online in the same way as resident taxpayers from 1 January 2017. Additionally, withholding agents of non-resident taxpayers

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Poland-Taiwan: Polish Senate approves tax agreement between Poland and Taiwan

December 29, 2016

The higher chamber of the Polish parliament accepted the draft law ratifying the Poland - Taiwan Income Tax Agreement of 2016 on 15 December 2016. Further details will be reported

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Taiwan: Ministry of Finance amends withholding tax on income of non-resident workers

December 29, 2016

The Tax Bureau of the Ministry of Finance has announced that withholding tax on income derived from a non-resident worker will be adjusted in 2017. Accordingly, if monthly income is less than TWD 31,513 this will be subject to withholding tax at a

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Bulgaria: Updated list of tax havens published

December 28, 2016

The Finance Ministry has published an Order No. ZMF-1303 on 21st December 2016 regarding an updated tax haven list. This list applies from 29th December 2016 contains the following countries: Antigua and Barbuda, the Bahamas, Brunei, Christmas

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Greece: Incentives for business re-organization under Income Tax Code

December 28, 2016

The Public Revenue Authority has published a Circular 1198/2016 on 23rd December 2016 to provide explanations on the tax treatment of business re-organizations under the Income Tax Code (ITC). According to article 61 of Law 4438/2016, no tax, stamp

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DTA between Chile and Japan enters into force

December 28, 2016

The Income Tax Treaty (2016) between Chile and Japan entered into force on 28th December 2016. It generally applies from 28th December 2016 for tax matters regarding the exchange of information (article 26) and from 1st January 2017 for other tax

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Greece: Bill amending Income Tax Code and VAT Code on electronic payments gazetted

December 28, 2016

The Bill amending the Income Tax Code, Procedural Tax Code and VAT Code on electronic payments and voluntary disclosure of undeclared income has been gazetted in the Official Government Gazette on 22nd December 2016. This draft bill regarding

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Czech Republic: Bill introducing CbC reporting submitted to parliament

December 27, 2016

The government of Czech Republic has submitted a bill on 22nd December 2016 to the parliament, which, if approved, would announce changes to the Law on International Cooperation in the Administration of Taxes. It would implement the provisions

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MFN clause of the protocol to the Egypt – France Income and Capital Tax Treaty (1980) (as amended through 1999) activated

December 27, 2016

The Tax Administration of France updated the guidance on 4 November 2016 about activation of the most favoured nation (MFN) clauses concluded by France on certain tax treaties. As a result, the MFN clause in article II of the protocol to the Egypt -

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MFN clause of the protocol to the Income and Capital Tax Treaty between France and Chile of 2004 activated

December 27, 2016

The Tax Administration of France updated the guidance on 4 November 2016 about activation of the most favoured nation (MFN) clauses concluded by France on certain tax treaties. Accordingly, the MFN clause in paragraph 6 of the protocol to the Chile

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Most favoured nation clause of the protocol to the Bolivia – France Income and Capital Tax Treaty (1994) activated

December 27, 2016

The Tax Administration of France updated the guidance on 4 November 2016 about activation of the most favoured nation (MFN) clauses concluded by France on certain tax treaties. Accordingly, the MFN clause in article 5 of the protocol to the Bolivia

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Finland: Parliament approved the Budget bill for 2017

December 27, 2016

The Finnish parliament approved the budget bill for 2017 on 21 December 2016. The budget proposal was submitted to parliament by Finance Minister on 12 August

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Luxembourg: Parliament does not support EU proposal on CCCTB

December 27, 2016

The Luxembourg parliament on 22 December 2016 adopted a resolution indicating that Luxembourg does not support the re-launched Common Consolidated Corporate Tax Base (CCCTB) proposal because it is regarded as incompatible with the subsidiarity and

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Luxembourg: Parliament adopts country-by-country reporting

December 27, 2016

The Luxembourg Parliament on 13 December 2016 passed legislation implementing country- by-country (CbC) reporting requirements for Luxembourg entities that are part of a Multinational Enterprise Group (MNE Group). The new CbC reporting legislation

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Hungary-Ratified the income tax treaty of 2016 with Oman

December 27, 2016

The government of Hungary ratified the Hungary - Oman Income Tax Treaty (2016) on 15 December 2016 by way of Law No. CLXXVII which was published in the Official Gazette No. 210 on 20 December

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Georgia-Published draft order introducing new corporate income tax return form

December 27, 2016

The Ministry of Finance of Georgia published a draft order on 5 December 2016 which introduces a monthly corporate income tax return form. Recently a new corporate income tax regime has been adopted and this will become effective from 1 January

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