Posts by admin

US: IRS Urges Tax-filing and Payment Extensions Expire Oct. 15

September 30, 2014

The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns...

Chinese E-commerce tax plan for 2015

September 30, 2014

China is assessing the introduction of tax on E-sales (online) of goods in 2015. The new plan would contain a...

DTA between Australia and Switzerland ratified by Australia

September 30, 2014

On 24th September 2014, Australia completed its domestic ratification procedures with respect to the DTA signed with Switzerland. Once in...

India: Decision on whether the Taxpayer could be regarded as an “assesse in default”

September 30, 2014

Recently, The Supreme Court (SC) of India issued its decision in the case of CIT v. NHK Japan Corp. (SLA...

US: Selection of Problematic Tax Prepares Could Be Improved By IRS

September 30, 2014

According to a report released by the Treasury Inspector General for Tax Administration (TIGTA), IRS could improve its selection of...

Sixth Meeting of China-ASEAN Free Trade Area Joint Committee

September 30, 2014

The Sixth Meeting of the China-ASEAN Free Trade Area Joint Committee and the First Round of Upgrading Negotiations of the...

Double Taxation Agreement between Qatar and Latvia

September 30, 2014

Latvia signed a Double Taxation Agreement (DTA) with Qatar on September 26, 2014. Furthermore, on 10 September 2014, the cabinet...

Slovenia: Plans to Increase Tax Collection

September 29, 2014

Slovenia’s new government plans to improve tax collection and reduce public spending in a bid to cut its budget deficit....

Iceland-Albania: Signed an income tax treaty

September 29, 2014

Iceland and Albania signed an income tax treaty on 26 September 2014. Further details will be reported afterward.

Spain plans to impose penalty on VAT fraud

September 29, 2014

In order to reduce rising fraud, Spain is planning to introduce a range of penalty measures on VAT in 2015....

IRS Warns Financial Institutions of Scams Designed to Identify Theft Attempts

September 29, 2014

The Internal Revenue Service has said that it does not require financial institutions to provide specific account holder identity information...

China and South Korea remain divided in Free Trade Agreement negotiations

September 28, 2014

China and South Korea made some progress in their latest round of negotiations for a FTA but remain divided over...

Philippines: Reduces the corporate income tax rate

September 27, 2014

The Chairman of the House Committee on Ways and Means filed House Bill 4829 looking for to reduce the corporate...

Australia: Parliament changes thin capitalization rules

September 27, 2014

The Australian Parliament passed previously announced legislation on 25 September 2014 which includes changes to the thin capitalization rules, a...

EU – Pan-European implications of VAT decision on cross-border services

September 27, 2014

The Court of Justice of the EU recently issued a judgment in a case that may have implications for multinational...

Slovenia: APA concluded for transfer pricing purposes

September 27, 2014

On 1 August 2014, the amendments to the Financial Administration Law (the Law) entered into force. According to the law,...

U.A.E-Japan Income Tax Treaty ratified

September 26, 2014

The Income Tax Treaty between Japan and United Arab Emirates has been ratified by way of Decree No. 70/2014. Further...

A tougher penalties on Voluntary Tax Disclosures Rules has been approved by Germany’s Cabinet

September 26, 2014

Germany’s Cabinet approved tougher penalties on voluntary tax disclosures on September 24, 2014. As per the new rules, the maximum...