OECD: Report on branch mismatch rules
On 28 July 2017 the OECD’s Committee on Fiscal Affairs (CFA) issued a document entitled Neutralising the Effects of Branch Mismatch Arrangements, Action 2. This document was issued as part of the implementation of the action plan on base erosion
See MoreBelgium: Tax measures announced for 2018
On 26 July 2017, the federal government of Belgium announced various tax measures for the 2018 budget. Corporate income tax rate The rate of corporate income tax would be gradually reduced. Currently, the normal rate is 33.99%, will be reduced to
See MoreUK: HMRC updates CIRD manual
HMRC’s Corporate Intangibles and Research and Development manual has been updated to reflect a temporary extension to the available period in which to amend a claim to research and expenditure (R&D) tax relief. The extension applies only to
See MoreIMF report looks at US economic prospects and tax reform
On 26 July 2017 the IMF issued a staff report following the conclusion of consultations with the US under Article IV of the IMF’s articles of agreement. The report suggests that in the medium term reforms should include a more efficient tax
See MoreWTO: Amendment to Trade Policy Review mechanism
On 26 July 2017 the General Council of the World Trade Organization (WTO) approved the first ever amendment to the Trade Policy Review Mechanism. The mechanism provides for periodic reviews of the trade policies and practices of WTO member states
See MorePoland: Ministry of Finance publishes a draft bill on corporate income tax
The Polish Ministry of Finance issued a draft bill on 12th July 2017, regarding corporate income tax. The draft bill proposes significant changes and sets new foundations in taxation rules for companies in Poland. The bill changes the
See MoreIceland: Parliament passes legislation amending to interest deduction
The parliament has passed legislation amending article 57(b) of the Income Tax Act No. 90/2003 on 1st June 2017. According to the previous article 57 (b) of the Income Tax Law No 90 /, which entered into force on 1 January 2017, the taxpayer’s
See MoreCanada: FTA with Ukraine enters into effect on August 1, 2017
The Free Trade Agreement between Canada and Ukraine will enter into force on 1st August 2017. As per previous discussion, from August 1, 2017, the agreement will cut 98% of the tariffs for Ukrainian exports to Canada and 72% of the tariffs from
See MoreU.S. and Slovakia sign an agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of the U.S. and Slovakia have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreU.S. and Norway sign agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of the U.S. and Norway have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreU.S. and Netherlands sign an agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of U.S. and Netherlands have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreU.S. and Latvia sign agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of U.S. and Latvia have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country
See MoreU.S. and Ireland sign an agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of U.S. and Ireland have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country
See MoreU.S. and Iceland sign an agreement on the exchange of CbC reports
According to the IRS announcement on its website, the competent authorities of the U.S. and Iceland have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreU.S. and Guernsey sign an agreement on the exchange of country-by-country reports
According to an IRS announcement on its website, the competent authorities of U.S. and Guernsey have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country
See MoreU.S signs a bilateral competent authority agreement with Denmark on exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of the U.S. and Denmark have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreU.S. and Malta sign agreement on the exchange of country-by-country reports
According to an IRS announcement on its website, the competent authorities of the U.S. and Malta have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreJapan: DTA with Slovenia will enter into force on 23 August 2017
The Japanese Ministry of Finance on 26 July 2017 issued a press release announcing that the double taxation agreement (DTA) between Japan and Slovenia, signed on 10 September 2016, will enter into force on 23 August
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