Posts by admin

Russia: Law providing CFC rules signed

December 4, 2014

The President of Russia has signed a Federal Law No. 376-FZ for introducing the CFC rules on 24th November 2014....

Tax Treaty News: November 2014

December 4, 2014

Austria – Belarus On November 24, 2014, Belarus signed a protocol to amend its Double Taxation Agreement (DTA) with Austria....

Turkey: Turkish Petroleum Law regarding Taxation, Import, Export and Transfers

December 4, 2014

The Turkish Petroleum Law came into force on 11 June 2013. This Law introduced a revolution in the Turkish oil...

Transfer Pricing Brief: November 2014

December 3, 2014

Australia Transfer Pricing Rule-The reconstruction provisions are contained in section 815-130 ITAA 1997. TR 2014/6 gives guidance on identifying situations...

DTA between Czech Republic and Senegal negotiated

December 3, 2014

The scheduled of the first round negotiations for a tax treaty between Czech Republic and Senegal is set to take...

World Tax Brief : November 2014

December 3, 2014

Chile Main corporate tax rates: Under the Law 20,780A,  20% of tax rate applies in 2014 to Chilean companies or...

Malta cut down VAT registration threshold to nil in 2015 Budget

December 3, 2014

The recent budget of Malta for the year 2015 has cut down the value added tax (VAT) registration threshold from...

Tax rate down in Malta’s 2015 Budget

December 3, 2014

Recent budget of Malta for next year contains a reduction of personal income tax (PIT) brackets, through a rate down...

Malta: Budget 2015 Supports Female Workforce

December 3, 2014

Finance Minister Prof. Edward Scicluna underlined that the Budget 2015 embodies the Government’s determination to facilitate access to work for...

Portugal suspends VAT rise proposal from 2015

December 3, 2014

Portugal has suspended a proposal to raise its value added tax (VAT) rate from 23 percent to 23.25 percent on...

China: VAT on financial services will be applicable from 2016

December 3, 2014

China’s Ministry of Finance (MoF) has announced that it will launch its VAT reforms for the Financial Service Industry in the early...

The Finance Ministry clarifies income allocation and expenses to Russian PE

December 2, 2014

The Finance Ministry (MoF) has published a Letter No. 52359 for describing the allocation of income and expenses to a...

Hungary, Bahrain, Saudi Arabia and Jersey: Approval of TIEA

December 2, 2014

On 25th October 2014, the Hungarian parliament approved the pending income tax treaties with Bahrain and Saudi Arabia and a...

Singapore and UAE: amending protocol to DTA signed

December 2, 2014

On 31st October 2014, Singapore signed an amending protocol to the countries’ income tax treaty. This is the first amendment...

Slovenia and UAE: DTA and accompanying protocol entered into force

December 2, 2014

On 27 August 2014 the Slovenia and United Arab Emirates treaty and accompanying protocol entered into force. The treaty and protocol...

Luxembourg and UAE: protocol to DTA signed

December 2, 2014

On 26th October 2014, Luxembourg and the United Arab Emirates signed a protocol to the 2005 Luxembourg and U.A.E. income...

Turkey: free trade zones are not required to calculate VAT

December 2, 2014

The tax court of Turkey settles that entities functioning in free trade zones are not required to calculate value added...

Dubai and China: first Chinese issuer to list a bond on an exchange in the Middle East

December 2, 2014

China has issued an RMB 1bn three-year bond on NASDAQ Dubai. The Agriculture Bank of China (ABC), China’s third largest...