Canada: A record number of Canadian citizens are using electronic filing services
To deliver the Canadian government’s commitment to Canadian citizens, the Canada Revenue Agency (CRA) continues to expand its offering of online services and the number of online users is increasing. Taxpayers are using the CRA’s online services
See MoreAustralia: Extending the immediate deductibility threshold for small business
On 9 May 2017, the Australian Government announced an extension to the 2015-16 Budget measure providing an instant asset write-off provision for small business. Small businesses can immediately deduct the business portion of most assets if they cost
See MoreAustralia: Foreign resident capital gains withholding payments
On 9 May 2017, the Australian Government announced proposed changes to the foreign resident capital gains withholding (FRCGW) rate and threshold. The changes will apply to contracts entered into on or after 1 July 2017, for real property
See MoreRomania ratifies DTA with China
On 8 May 2017, Mr. Klaus Iohannis, the Romanian president signed a law ratifying the Double Taxation Agreement (DTA) with China. Once ratified by China and becoming effective, the Agreement will replace the existing DTA of 1991 and effective as of 1
See MorePakistan: FBR publishes a guideline on the mechanism of ADR
Recently, the Federal Board of Revenue (FBR) has issued a guideline on the mechanism of ADR. The FBR has motivated taxpayers to resolve their issues through the Alternate Dispute Resolution (ADR) mechanism, which will help taxpayers from unnecessary
See MoreAustralia: Improving the small business capital gains tax concessions
On 9 May 2017, the Australian Government announced that it would amend the small business capital gains tax (CGT) concessions to ensure that they can only be accessed in relation to assets used in a small business or ownership interests in a small
See MoreItaly approves DTA with Barbados
On 2 May 2017, the Italian Chamber of Deputies approved the draft law ratifying the Double Taxation Agreement (DTA) with Barbados for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreAustralia: Federal Budget 2017-18
On 9 May 2017, the Treasurer of Australia handed down Budget 2017-18. The Government is focused on boosting the economy and helping households, to ensure all Australians can benefit from the nation’s growth story. This Budget is based on the
See MoreRussia: Publishes the draft law on CbC reporting requirements for multinationals corporate groups
The Russian government on 6 March 2017, published an amended draft law providing for new provisions on the international automatic exchange of financial accounting information for the Russian fiscal regulation and for setting new standards for the
See MoreMorocco approves DTA with Ethiopia
The Council of Government in Morocco approved the Double Taxation Agreement (DTA) on 4 May 2017 with
See MoreMoroccan Council approves DTA with Madagascar
The Moroccan Council of government approved the Double Taxation Agreement (DTA) on 4th of May 2017 with
See MoreMorocco approves DTA with Rwanda
The Moroccan Council of government approved the Double Taxation Agreement (DTA) on 4th of May 2017 with
See MoreMorocco approves DTA with Ghana
The Moroccan Council of government approved the Double Taxation Agreement (DTA) on 4th of May 2017 with
See MoreMoroccan Council approves DTA with Madagascar
The Moroccan Council of government approved the Double Taxation Agreement (DTA) on 4th of May 2017 with
See MoreMorocco approves DTA with South Sudan
The Council of Moroccan government approved the Double Taxation Agreement (DTA) on 4th of May 2017 with South
See MoreProtocol of DTA between Bahrain and Thailand signed
Bahrain and Thailand has signed an amending protocol of Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Manama on 25 April
See MorePoland publishes standard audit file for tax purposes
A draft standard tax audit file rules of amendments to the Tax Ordinance Act has been published on 23rd May 2017. According to the standard tax audit file rules taxpayers-lawful entities, authoritative units, and people who directing benefits of the
See MoreChina: reduces value added tax rate on agricultural products
On 3 May 2017, the Ministry of Finance and the State Tax Administration issued a joint announcement listing the categories of goods benefiting from a reduction in the VAT rate from 13% to 11%. The list includes agricultural products, water, natural
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