Posts by admin

Russia: The MoF clarifies requirements to claim tax deduction of expenses

February 17, 2015

The Federal Tax Service has released Letter No. 03-03-10/4547 to clarify the requirements that must be completed by the primary...

South Africa: SARS Issues Draft Tax Interpretation Notes On HQs, Currencies

February 17, 2015

The South African Revenue Service has issued two draft tax interpretation notes for public comments regarding special tax relief for...

Taiwan – Separate analysis for certain controlled transactions 

February 16, 2015

Taiwan’s Ministry of Finance issued guidance that relaxes the rules requiring a separate analysis for controlled transactions. Under the transfer...

Singapore: Research and Development tax incentives 

February 16, 2015

From 2010 the economic policies of the government of Singapore have focused on reducing reliance on foreign workers and encouraging...

South Africa-US FATCA Agreement Enters Into Force

February 16, 2015

The South Africa-United States FATCA Model 1A Agreement (2014) entered into force on 28 October 2014. The agreement was signed on 9...

OECD holds webcast to provide updates on the BEPS project

February 15, 2015

On 12 February 2015 the OECD held a webcast to update interested parties on the progress made in the action...

Saudi Arabia: Withholding tax update on freight and insurance on imported leased equipment

February 15, 2015

The Higher Appeal Committee ruled that freight and insurance paid on import of assets whether owned or leased should not...

Cyprus-Lithuania Double Tax Treaty Enters Into Force

February 15, 2015

The double tax treaty between Cyprus and Lithuania entered into force on 1 January 2015, which was signed on June...

Finland: Government Issues Proposal To Change Transfer Pricing Rules

February 15, 2015

The Finnish government issued a draft proposal on 7 January 2015 that would amend the transfer pricing rule in section 31...

South Africa: SARS Releases Draft Guidance On Tax Breaks For Headquarters Companies

February 15, 2015

The South African Revenue Service (SARS) on February 12 2015 released draft guidance on tax incentives for headquarters companies, designed...

WTO concludes trade policy review of Brunei Darussalam

February 14, 2015

The World Trade Organization (WTO) has conducted its third trade policy review of Brunei Darussalam and has looked at progress...

Azerbaijan: The Ministry of Taxes and the IFC are Working to Protect Withdrawal of Profits from Taxation

February 14, 2015

The Ministry of Taxes of Azerbaijan and the International Finance Corporation (IFC) are working on a draft agreement on transfer...

UK issues VAT instructions following the Skandia judgment

February 13, 2015

On 10 February 2015 the UK tax authority HMRC issued Revenue and Customs Brief 2 (2015) on VAT grouping rules...

Egypt: IMF recommends introduction of a full VAT system

February 13, 2015

Following consultations in Egypt under Article IV of its articles of agreement the International Monetary Fund (IMF) has reported that measures...

Myanmar: IMF report refers to tax reform

February 13, 2015

A statement released at the close of a visit by officials of the International Monetary Fund (IMF) to Myanmar indicates...

Canada: Guidance on intra-group services published

February 13, 2015

The Canada Revenue Agency (CRA) has published Transfer Pricing Memorandum (TPM)-15 regarding intra-group services and section 247 of the Income...

Nigeria: Nonresident companies must file income tax return on real profits basis

February 13, 2015

The Federal Inland Revenue Services (FIRS) in Nigeria has issued a notice demanding all nonresident companies with a permanent establishment...

OECD publishes comments received on limiting base erosion through financial payments

February 12, 2015

On 11 February 2015 the OECD published on its website comments received from interested parties in respect of the discussion...