Dealmaking in Central & Eastern European Real Estate
Investing, Developing, and Leasing in Central & Eastern Europe A two-hour webinar, May 9, 2017, from 11am -1pm NYC time Sponsored by Emerging and Frontier Markets Association This webinar will not only cover investing in
See MoreVietnam: Updates corporate tax incentives schemes
Recently, Vietnam’s tax authorities updates and published following guidance in the “official letters” regarding the corporate tax incentives schemes: -No CIT incentive tax rate applicable for investment projects located in industrial
See MorePakistan: FBR publishes the guideline on withholding taxes
Recently, the Federal Board of Revenue (FBR) has published the guideline on withholding taxes updated up to 22 March 2017. The guideline covers all requirements for both final and non-final withholding taxes under the territory of Pakistani tax
See MoreBelgium, Moldova amending protocol to DTA signs
On 30 March 2017, Belgium and Moldova signed an amending protocol to Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in Brussels. Once in force, the 2008
See MoreUK drops Double Taxation Treaties (Developing Countries) Bill 2016-17
On 24 March 2017, the second reading debate for the Double Taxation Treaties (Developing Countries) Bill 2016-17 was expected to resume. However, the order was not moved so the bill has effectively been dropped by its sponsoring MP and will not
See MoreAndorra, Italy EOI Agreement enters into force
On 27 March 2017, the Exchange of Information (EOI) Agreement between Andorra and Italy was entered into force. The agreement generally applies from 27 March 2017 for criminal tax issues and from 1 January 2018 for all other tax
See MoreAndorra, Portugal DTA enters into force
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. The treaty generally applies from 1
See MoreOman introduces special tax regime for small businesses
Royal Decree 9 of 26 February 2017 launched a number of key changes to the Income Tax Law issued by way of Royal Decree 28 of 2009, including a special regime for small businesses. The small business will be subject to income tax at a rate of 3%. A
See MoreJapan approves the tax reform plan for 2017
The Government of Japan passed the 2017 tax reform key proposals on 27 March 2017. According to the bill, the following changes are taking place: Tax treatment of board remuneration and old-age provision; Time of the deduction of costs for
See MoreColombia pronounces on CREE tax and CREE surcharge
On 16 March 2017, the Colombian National Tax Authority (DIAN) published a Ruling 5797-2017 stating on the validity of the fairness tax (CREE) and the CREE surcharge. In accordance with this ruling, under Law 1819 of 2016 (the tax reform), as from 1
See MoreIndia: Higher tax rate not applied when tax is withheld under tax treaty
The Ahmedabad Bench of the Income-tax Appellate Tribunal in the case of: Uniphos Environtronic (P.) Ltd. v. DCIT 79, held that where the tax has been deducted on the basis of the beneficial provisions of the tax treaties, the provisions of
See MoreRussia: Publishes electronic filing requirements for VAT returns
The Federal Tax Service issued decisions regarding E- filing requirements for VAT returns on 16 March 2017. According to the Federal Tax Service, Under the article 88(3) of the Tax Code, from now taxpayers are legally required to file VAT returns
See MoreRussia: Announces the timeline for implementation of IFRS
The Ministry of Finance has announced the timeline for the implementation of the International Financial Reporting Standards (IFRS) documentation on 16 March 2017. Presently, the process of adoption and entry into force of the documents is under
See MoreColombia: New tax penalties regime
The National Tax Authority (DIAN) pronounced on the following issues related to tax penalties, in particular the application of the principles of proportionality, harmfulness, gradualness and favorability, on 17 March 2017. Article 640 of the Tax
See MoreColombia: Procedure to request for amending tax returns
According to the decision 20960 of 2017, the Tax Court pronounced on the rules that must be followed by the National Tax Authority (DIAN) when analyzing taxpayers' requests for amending tax returns. Taxpayers may apply for amendment to a tax return
See MoreOman: Treatment of withholding tax on dividends
On 20 March 2017, the Capital Market Authority of Oman issued Circular E/3/2017 clarifying the application of withholding tax on dividends recently introduced by way of Royal Decree 9 of 26 February 2017. The circular clarifies that the withholding
See MoreCanada: The Province Budget 2017-18 for Saskatchewan issued
The Minister of Finance has presented the province’s fiscal 2017–18 budget for Saskatchewan on 22nd March 2017. This budget meets the challenge the Government of Saskatchewan is facing by controlling and reducing spending, modernizing and
See MoreUS: IRS releases annual report on advance pricing and mutual agreement program for 2016
The IRS has issued its annual report on advance pricing agreements (APAs) and the Advance Pricing and Mutual Agreement (APMA) Program (formerly the Advance Pricing Agreement (APA) Program). The report was issued as IRS Announcement 2017-3 dated 27
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