Posts by admin

China: Proposes FTA with Bangladesh

January 1, 2015

China has offered to sign an FTA with Bangladesh to boost trade between both countries and cut the trade gap. This offer was...

US: Tax Filing Season Will Open On Time

January 1, 2015

Following the passage of the extenders legislation, the Internal Revenue Service announced it anticipates opening the 2015 filing season as...

Ukraine: Parliament Approves Tax Reform Plans

January 1, 2015

The Ukraine Parliament approved a package of laws on December 28, 2014, which significantly amend the system of taxation in...

India: High Court decision that “royalty” income received under a contract prior to 1 April 1976 is exempt from tax

December 31, 2014

The High Court (HC) of Mumbai issued its decision on 8 August 2014, in the case of CIT v. Montedison...

India: Update on GST and management service fees

December 31, 2014

The Union Cabinet approved the Constitutional Amendment Bill on Goods and Services Tax (GST) on 17 December 2014 and this...

Egypt:  Plans for VAT reform contribute to credit upgrade

December 31, 2014

Currently Egypt operates a simple 10% sales tax system. This tax is currently applied to only a relatively small range...

France: Parliament approves the Finance Bill for 2015

December 31, 2014

The French Parliament approved the Finance Bill for 2015 and the Second Amended Finance Bill for 2014 On 18 December...

Australia: Practice Statement PS LA 2014/2 released by the Australian Taxation Office

December 31, 2014

The Australian Taxation Office (ATO) released guidance on what the ATO expects taxpayers to prepare in order to comply with...

Brazil & Norway: Protocol to DTA ratified by Norway

December 29, 2014

The protocol to Income and Capital Tax Treaty (1980) between Brazil and Norway has signed on 20 February 2014 and...

Norway & Bulgaria: DTA ratified by Norway

December 29, 2014

Norway has ratified the Bulgaria – Norway Income Tax Treaty of 2014 on 4 December 2014. The new treaty will...

South Africa: SARS Issues Revised Capital Gains Tax Guide

December 28, 2014

The South African Revenue Service (SARS) has issued a revised version of its Comprehensive Guide to Capital Gains Tax (CGT)....

Italy: approves fiscal budget for 2015

December 26, 2014

Italy has approved 2015 fiscal budget with deficit. The budget bill was passed by both houses of parliament when the...

Bulgaria: Key changes to the tax and social security legislation for 2015

December 25, 2014

The amendments to the VAT law was released in the State Gazette on 19th December 2014. The National Revenue Agency...

Italy & Mexico: Amended protocol to DTA approved by Italian Parliament

December 24, 2014

The Italian Parliament has approved the amended protocol to the Italy – Mexico Income Tax Treaty of 1991 on 18...

Indonesia temporarily bans overseas travel by key tax debtors

December 24, 2014

The Ministry of Finance of Indonesia has banned overseas travel of key tax debtors with total debt amount of IDR3.32...

DTA between Estonia & Luxembourg approved by Estonia

December 23, 2014

Estonia approved the Income and Capital Tax Treaty with Luxembourg on 8 December 2014. Once in force and effective, the...

China issues Circular Caishui [2014] No. 59 to extend the current preferential corporate income tax treatment

December 23, 2014

China’s Ministry of Finance, the State Administration of Taxation, Ministry of Commerce, Ministry of Science and Technology and National Development...

Korea signs new Double Taxation Agreement (DTA) with Brunei

December 23, 2014

The Republic of Korea signed a double taxation agreement (DTA) with Brunei on December 9, 2014. The appropriate legal ratification...