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Transfer Pricing Brief: February 2015

March 2, 2015

France Penalty for Documentation FailureThe Finance Act, 2015 provides that for tax audits initiated from 1 January 2015 penalties for...

Russia: Amendments to transfer pricing rules have entered into force

March 2, 2015

On the basis of Federal Law No. 379-FZ, the amendments has made in transfer pricing (TP) rules and it was...

Chile: Administrative interpretation on 2015 tax amnesty

March 2, 2015

The tax administration has released circular 8 on 23rd January 2015 that gives the SII administrative interpretation regarding a tax...

Taiwan: Non-Residents Notified On Tax Compliance

March 2, 2015

The National Taxation Bureau of Taipei has announced that it is currently assessing a total of 3,253 foreign taxpayers from...

Spain: Cabinet Approves The Tax Treaty With Oman

March 2, 2015

The Cabinet has approved, on 27 February 2015, the signing “ad referendum” of the Convention between the Kingdom of Spain...

India: Finance Minister releases 2015 -2016 Budget

March 1, 2015

The Honorable Finance Minister of India on 28th February announced a budget aimed at high growth, saying the pace of...

ECJ to consider scope of the VAT exemption for financial services

February 28, 2015

The First Tier Tribunal in the UK has referred a question to the European Court of Justice (ECJ) concerning the...

OECD publishes comments received on VAT/GST guidelines

February 27, 2015

On 24 February 2015 the OECD published on its website the comments received on its consultation document on aspects of...

Russia: Guidance on definition of related parties

February 27, 2015

The Finance Ministry (MoF) has issued Letter No. 03-01-18/1989 on 23rd January 2015 describing the rules for definition of a company...

Turkey- Korea (Rep.) Free Trade Agreement Signed

February 27, 2015

A new Free Trade Agreement (FTA) between Turkey and Korea (Rep.) was signed on 26th February 2015. After the FTA...

Finland-US FATCA Agreement Enters Into Force

February 27, 2015

Agreement between the Government of the United States of America and the Government of the Republic of Finland to Improve...

Hong Kong: Tax Measures Proposed in Budget 2015-2016

February 26, 2015

The Financial Secretary proposed a number of tax measures in his 2015-16 Budget speech on 25 February 2015. All of...

South Africa: Proposal to ChangeTransfer Pricing Documentation and CFC Rules

February 26, 2015

The South African Finance Minister Nhlanhla Nene proposed new transfer pricing documentation and reporting rules and proposed to revise controlled...

South Africa: Tax Proposals In Budget 2015

February 26, 2015

South Africa has increased income tax rates for the first time in 20 years. The first increase since 1995, the...

IMF/ TAXUD conference on Corporate Debt Bias: Economic Insights and Policy Options

February 25, 2015

The Fiscal Affairs Department of the IMF and the Directorate General for the Taxation and Customs Union held a conference...

Hong Kong-Vietnam: Protocol To Tax Treaty Enters Into Force

February 25, 2015

The second protocol to the double taxation agreement between Hong Kong and Vietnam has entered into force, a government spokesman...

South Africa: Tax Free Savings Accounts from 1 March 2015

February 25, 2015

South Africa’s National Treasury has published the final Notice and Regulations that allow for the introduction of tax-free savings and...

Japan: Tax Reform Legislation Introduced

February 24, 2015

The Japanese Government submitted legislation to Parliament on February 17 2015, including the planned corporate tax cuts.  As the Prime...