Qatar: Cabinet approves BEPS MLI
The Qatari Cabinet approved on April 11, 2018, the Multilateral Instrument (MLI) to implement into bilateral tax treaties the tax treaty-related measures arising from the OECD / G20 BEPS Project to tackle base erosion and profit shifting (BEPS). It
See MoreCanada: Federal budget bill C-74 receives first reading
The Canadian federal government released first reading of Budget Implement Act (Bill C-74) on March 27, 2018. This bill includes measures from the 2018 federal budget and other measures including income tax amendments, such as, small business tax
See MoreChile: Tax authority issues Ordinances for describing dual corporate tax regimes
The tax authority has published Ordinance 470 and Ordinance 471 of 5 March 2018. It describes the application of the dual corporate tax regimes introduced as of January 1, 2017. These regimes are the standard attribution regime (AIS regime) and the
See MoreRomania: Raised 2018 VAT registration threshold
Romania has introduced a retrospective rise in its VAT registration threshold for resident businesses. It was increased to €88,500 per annum from €65,000 per annum from 1 January 2018. The European Commission last year authorized Romania to
See MoreOECD: Global Forum Issues Peer Review Reports
On 4 April 2018 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published peer review reports on nine countries. The reports assess the countries’ compliance with the agreed international standards in
See MoreSlovak Republic: New PE Rules publishes for digital platforms
The Financial Administration has published a news regarding new permanent establishment (PE) rules for digital platforms. It was introduced by the Tax Reform Law for 2018. In accordance with new PE rules, the registration of the permanent
See MoreUnited States: ADD/CVD Roundup for March 2018
Following table shows the Federal Register notices related to ADD/CVD cases for March 2018 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Final Determination of Sales at Less Than Fair Value and Final
See MorePGA Highlights: March 2018
In the United States the following events have taken place under the several PGA during the month of March 2018. Agencies Summary CBP CBP releases E-Commerce Strategy: The U.S. Customs and Border Protection released its e-commerce strategy on
See MoreChina: Draft Law on Resource Tax
First introduced in 1984, the Resource Tax originally applied to crude oil, natural gas, coal, and other mineral resources based on their quantity and weight. The Chinese Government first extended the Resource Tax nationwide in November 2011. By
See MoreThe Swiss Federal Council approves tax proposal 17
The Swiss Federal Council has adopted the dispatch on TP17 for the attention of the Federal Assembly on 21st March 2018. It wishes to quickly to improve matters for domestic and foreign companies with the proposal, also on the basis of international
See MoreOECD: Revenue Statistics in Latin America and the Caribbean
On 27 March 2018 the OECD released the latest edition of the publication Revenue Statistics in Latin America and the Caribbean 2018. The publication notes that tax revenues in the region fell in 2016, with an average tax to GDP ratio of 22.7%, 0.3%
See MorePuerto Rico establishes the procedure for e-filing of the corporate tax return for 2017
The Treasury Department of Puerto Rico has issued guidance (Circular Letter (CL) 18-03) for the electronic filing (e-filing) of corporate income tax returns for tax year 2017. Procedure for electronically file required evidence with the corporation
See MorePoland: Government extends the special economic zone regime
On 20 February 2018, the Polish government adopted the plans to offer tax incentives to investors across the country, not just in areas designated as special economic zones (SEZs). Under the current regime, companies operating with the necessary
See MoreArgentina: Deadline extends for providing incentive benefit
Argentina has published Decree 229/2018 of 16 March 2018 in the Official Gazette. It effects from January 1, 2018. Under Decree 379/2001, this decree changes and extends the effective date for providing incentive up to December 31, 2018. This
See MoreSaudi Arabia: Circular regarding VAT treatment of contracts signed with government bodies
The Ministry of Finance in Saudi Arabia issued a circular on 22 March 2018 clarifying the treatment of VAT on contracts concluded between VAT registered suppliers and government bodies before, on, or after 1 January 2018. The circular emphasizes
See MoreCanada: Quebec issues draft budget 2018-2019
The Finance Minister of Quebec, Carlos Leitao, presented the province’s fiscal budget 2018-2019 on March 27, 2018. The main points of this budget is given below: This budget proposes gradual reduction of the Health Services Fund (HSF)
See MoreIncreased VAT in Draft DEF (4) in Italy
A draft of the Economic and Financial Document (DEF showed that VAT hikes under fiscal safeguard clauses will remain intact for the next two years after being frozen for this year. The 10% reduced VAT rate will rise to 11.5% from January 1, 2019,
See MoreSingapore: Plans to increase GST rate and imposed GST on imported services
The Minister for Finance in Singapore presented Budget for 2018 on 19 February 2018. Budget 2018 proposes an increase in the GST rate from the current 7% to 9%. This increase would take place sometime during 2021 to 2025. Budget 2018 also introduces
See More