Tax Treaty News: March 2017
Andorra and Portugal On 23 April 2017, the Double Taxation Agreement (DTA) between Andorra and Portugal will enter into force for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. This
See MoreGermany: Draft amendments to transfer pricing documentation ordinance
The Ministry of Finance on 23 February 2017 published draft amendments to the transfer pricing documentation ordinance. These show the changes introduced by the bill on the implementation of amendments to the EU Mutual Assistance Directive and other
See MoreVietnam: Imposes anti-dumping tax on steel imported from China
On March 30 2017, the Ministry of Industry and Trade officially decided to levy anti-dumping duties on imported coated steel from mainland China including Hong Kong and the Republic of Korea. Therefore, Bazhou Sanqiang Metal Products will be taxed
See MoreMalaysia: IRB issues guideline for submission on e-Filing of Form CP204 AND CP204A
The Inland Revenue Board of Malaysia (IRBM) has recently announced that mandatory e-filing is required for companies which furnish their estimated tax payable (Form CP204) and Revised Estimation (Form CP204A) for the year of assessment 2018 and
See MoreNegotiating Cyber Insurance, with a focus on worldwide coverage and best practices
You are invited to receive a recording of a very special webinar: Negotiating Cyber Insurance, with a focus on worldwide coverage and best practices . In addition to attendees from the U.S., there were attendees from Canada, the UK, Ireland,
See MoreOECD: Guidance on implementation of the Common Reporting Standard
On 6 April 2017 the OECD released further information to support the consistent implementation of the Common Reporting Standard (CRS). This guidance includes a series of additional frequently asked questions (FAQs) related to the CRS and the second
See MoreOECD: Inclusive framework issues further guidance on CbC reporting
On 6 April 2017 the Inclusive Framework on BEPS released additional guidance on the implementation of country by country (CbC) reporting under BEPS Action 13. The guidance clarifies some issues surrounding the information to be included in the CbC
See MoreUS: Donald Trump signs executive orders to crack down on dumping duty non-payment
President Donald Trump signed two executive orders on 31 March 2017 in relation to enforcement of anti-dumping laws. The White House intends to combat global trade abuses and protect U.S. workers. In his first executive order the focus is on tougher
See MoreWorld Tax Brief: March 2017
Dominican Republic Filing returns: The Dominican tax authorities allotted new regulation (General Notice No.12-17) in order to improve the tax filing procedures for the annual corporate income tax return (Form: IR-2) and
See MoreHong Kong: Inland Revenue Department (IRD) issues tax returns for 2016-17
The Inland Revenue Department of Hong Kong on 03 April 2017 issued about 180,000 profits tax returns, 130,000 property tax returns and 300,000 employer's returns for the year of assessment 2016-17. The IRD encourages taxpayers to take the e-tax
See MoreSweden: Government proposes amendments to the taxation of real estate
The Swedish government has Proposes some tax changes on 30 March 2017, regarding taxation of real estate. The proposal will now be referred to stakeholders for consultation before a final version is handed to Parliament for voting. The new rules are
See MoreHong Kong: Government signed AEOI agreement with Portugal and South Africa
The government of Hong Kong has signed agreements with Portugal and South Africa for conducting automatic exchange of financial account information in tax matters (AEOI). A Government spokesman said on 03 April 2017 that they have been seeking to
See MoreTransfer Pricing Brief: March 2017
Canada: General rule for CbC reporting requirement: The Canada Revenue Agency (CRA) updated RC4651 Guidance on Country-By-Country (CbC) Reporting on 2 March 2017 to provide information on the interpretation of Canadian CbC reporting legislation
See MoreUruguay- Fiscal Transparency Law issued
Uruguay has issued Decree 77/2017 as a guide to Law No 19.484 which sets out the provisions on compliance with international standards for fiscal transparency. The Decree clarifies which companies are required to provide the tax authorities with
See MoreGhana: Government passes Value Added Tax (Amendment) Bill
On 31 March 2017, the Parliament adopted the VAT (Amendment), 2017, which requires all taxable retailers and wholesalers to charge VAT at a flat rate of 3% on the value of supplies. The rate would be calculated on the value of the taxable supply
See MoreAustralia: GST on low value imported goods
As of 1 July 2017, Subject to Parliamentary approval, overseas businesses with an Australian turnover of A$75,000 or more may need to: register for GST charge GST on low value imported goods that they sell to consumers in Australia, and
See MoreJersey: Tax disclosure opportunity for the year 2017 announces
The Treasury and Resources Department offers and runs a tax disclosure opportunity from 3rd April 2017 up to the end of 2017. This describes Islanders will be able to tell the tax office if they’ve made a mistake or failed to declare accurate
See MoreUK: Amendments to CbC reporting 2017
The United Kingdom was one of the first countries to formally commit to introducing CbC reporting and the detailed implementation was given effect through the 2016 Regulations. Since the UK introduced these regulations in February 2016, the
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