Uganda: Parliament passes Income Tax (Amendment) Act 2019
On 30 June 2019, Ugandan Parliament has passed Income Tax Amendment Act 2019. The act contains a number of measures including definition of beneficial owner to reduce the threshold required for exemption; to provide for withholding tax by a seller
See MoreFrance: President signs new Law of digital services tax
The new Law No. 2019-759 has been published on July 25, 2019, in the Official Gazette, which introduces Digital Services Tax (DST). It was signed by the French President, Emmanuel Macron, on July 24, 2019. This new Law also modifies the downward
See MoreTanzania: Government publishes Finance Act, 2019
The Tanzanian Government has published the Finance Act, 2019 in the Official Gazette on 30 June 2019 and it became effective from 1 July 2019. On 13 June 2019, Philip Mpango, the Finance Minister, presented the Budget for financial year (FY)
See MoreColombia: DIAN issues ruling on tax treatment of stock dividends
Recently, the Colombian National Tax Authority (DIAN) published Ruling 014495 of 6 June 2019, which sets out tax of profits in shares or stock dividend. The ruling includes the following points: Article 30Â of the Tax Code (TC) provide the
See MoreOECD: Input requested for dispute resolution peer reviews
On 15 July 2019 the OECD invited interested parties to submit input in relation to issues around access to the mutual agreement procedure; availability of clear MAP guidance; and timely implementation of the outcomes of the MAP, in a number of
See MoreCanada: Finance Department publishes draft Budget proposals for public comments
On 30 July 2019, the Finance Department published draft Budget proposals inviting comments to implement some of the remaining measures from the 2019 budget. The deadline for public comments is 7 October
See MoreEcuador introduces TP risk model
On 1 August 2019, the Inter-America Center of Tax Administration (CIAT) publishes a document on Ecuador Transfer Pricing (TP) Risk Model in its official website. The SRI of Ecuador, with the coordinated support of CIAT, the United Nations (UN), the
See MoreTransfer Pricing Brief: August 2019
MalaysiaRestriction on interest deduction: On 5 July 2019, the Inland Revenue Board of Malaysia has published new guidance on restrictions to the deductibility of interest expenses. Under the rules the maximum amount of deductible interest is
See MoreUkraine signs amending protocol to DTA with UAE
On 24 July 2019, the Cabinet of Ukraine approved to sign an amending protocol to the Double Taxation Agreement (DTA) with United Arab Emirates (UAE). The provisions of the draft protocol fully comply with the requirements with the Organization for
See MoreUkraine: DTA signs with Oman
On 24 July 2019, the Cabinet of Ukraine authorized to sign a Double Taxation Agreement (DTA) with Oman. The agreement contains Dividends rate 5% for at least 20% capital holding; otherwise 10%, Interest rate 10%, and Royalties rate
See MoreIndia legislates Finance (No. 2) Act 2019
On 1 August 2019, India has published the Finance (No. 2) Act 2019 in the Official Gazette, which was approved by the president. The measures of the Act are in line with those presented as part of the Union Budget for 2019-20. Corporate tax
See MoreLuxembourg: DTA with Kosovo enters into force
On 23 July 2019, the Double Taxation Agreement (DTA) between Kosovo and Luxembourg was entered into force and applies from 1 January 2020. The agreement was signed on 8 December 2017. The agreement contains Dividends rate 0% for at least 10%
See MoreDTA between Luxembourg and Uzbekistan enters into force
On 26 July 2019, the amending protocol to the Double Taxation Agreement (DTA) between Luxembourg and Uzbekistan was entered into force and applies from 1 January 2020. The agreement was signed by Luxembourg Minister of Finance Pierre Gramegna and
See MoreQatar publishes ministerial decision about CbCR in the official Gazette
On 17 June 2019, Qatar’s Ministry of Finance published Ministerial Decision No. 16 in the official Gazette implementing new obligations of country-by-country reporting (CbCR) requirement from 2018. The decision mainly clarifies about eligible
See MoreLuxembourg: MLI enters into force
On 1 August 2019, the multilateral convention to implement tax treaty related measures to prevent Base Erosion and Profit Shifting (Multilateral Instrument or MLI) entered into force in respect of Luxembourg. MLI provisions that affect withholding
See MoreSouth Korea: MOEF proposes tax revision bill for 2019
On 25 July 2019, South Korea’s Ministry of Economy and Finance (MOEF) has issued an overview of the proposed 2019 Tax Revision Bill to raise tax credit rate for corporate facility investments, R&D. The bill mainly focuses on boosting the
See MoreLithuania implements EU Directive on Dispute Resolution
On 11 July 2019, Lithuania has published Law No. XIII-2310  in the Official Gazette, which includes measures for the implementation Council Directive (EU) 2017/1852 of 10 October 2017. This includes rules to ensure effective resolution of
See MoreMalta updates NID Guidelines
On 11 July 2019, the Maltese Commissioner for Revenue has issued updated guidelines regarding the Notional Interest Deduction (NID) rules. The updated guidelines explains a number of factors including the determination of the reference rate, the
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