Posts by admin

China: SAT Regulates the Administration of the GAAR

December 13, 2014

Recently, the State Administration of Taxation (SAT) issued the Administrative Measures on the General Anti-Avoidance Rule (GAAR) to further regulate...

European Union: Report on Progress towards Financial Transactions Tax

December 12, 2014

The European Union’s Italian Presidency which draws to a close at the end of 2014 has issued a report on...

OECD: Developing countries discuss BEPS

December 12, 2014

A workshop held by representatives of a number of developing countries on 10 and 11 December 2014 looked at ways...

Hong Kong Exchanges Notes With Japan Regarding Exchange of Information

December 12, 2014

The Government of the Hong Kong Special Administrative Region (SAR) exchanged notes on 10 December 10 2014, with the Government...

South Africa: Revised Corporate Tax Returns Reflect REIT Reporting Requirements

December 12, 2014

The South Africa Revenue Service announced changes to the income tax return (ITR14) in respect of the 2014 year of...

OECD Publishes Information on Revenue Statistics for 2014

December 11, 2014

The Revenue Statistics for 2014 published by the OECD on 10 December 2014 show that tax revenue collection in the...

Nigeria: Tax withheld on dividends from gas operations

December 11, 2014

A decision of a case entitled “Nigeria Agrip Co. Ltd v. Federal Inland Revenue Service (10th December 2014)” has been...

Nigeria: Underpayment notices regarding interest, penalty assessments

December 11, 2014

The Tax Appeal Tribunal in Nigeria has issued a decision in a case regarding a taxpayer’s underpayment of company’s income...

Canada: Small business income tax rate decreases

December 11, 2014

The New Brunswick has introduced Legislation (Bill 2) that would cut the small business income tax rate from 4.5% to...

Nigeria: Non-resident companies has made deduction of recharges

December 11, 2014

The Court of Appeal has set a decision about a case entitled Federal Board of Inland Revenue v. Halliburton (WA)...

UK:HMRC gives small businesses additional guidance on Value Added Tax (VAT) for digital service suppliers

December 10, 2014

HM Revenue and Customs (HMRC) has published additional guidance for UK micro and small businesses who supply digital services to...

Czech Republic & Pakistan: DTA ratified by Pakistan

December 10, 2014

The Income Tax Treaty between Czech Republic and Pakistan has ratified by Pakistan on 2nd October 2014. The signing draft...

Ecuador: Tax Reform Proposed

December 10, 2014

A Tax Reform bill was sent by the President of Ecuador to the National Assembly for discussion, on 28 November...

UK: Government publishes draft tax legislation to implement Budget and Autumn Statement 2014 policies

December 10, 2014

The government of UK has published draft tax legislation on December 10, 2014 which will implement policies published at Budget...

US And Bulgaria Sign FATCA Deal

December 10, 2014

An intergovernmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) requirements was signed between Bulgaria...

OECD : Discussion Draft on Prevention of Treaty Benefits

December 9, 2014

On 21 November 2014 the OECD released a discussion draft in respect of follow-up work on Action 6 of the...

FTA between Canada and Korea effective from January 2015

December 9, 2014

The Free Trade Agreement (FTA) between Canada and South Korea has been ratified by both countries. This treaty will be...

Canada: Exemption of tax for immigrant trusts ends

December 9, 2014

The immigrated individuals in Canada within the previous 5 years and has built a non-Canadian resident trust prior to their...