Posts by admin

Egypt: Increased tax rate and others

August 20, 2014

Egyptian corporate tax rate is temporarily increased from 25% to 30% for a three-year period with respect to income exceeding...

India: Government to approve GST by the end of the year

August 20, 2014

Recently, the Indian Finance Minister presenting the 2014-2015 budgets and stated that the government will work to introduce GST by...

Czech Republic: Documentation requirement for tax payer

August 20, 2014

From 1 January 2014 Czech taxpayers must send in a separate disclosure form entitled Overview of Transactions with Related Parties...

France – Issued guidelines on limiting the interest deduction on related –party loans

August 20, 2014

The French tax authorities issued final guidelines on 5 August 2014 regarding the newly enacted rules on limiting the interest...

Italy: Requests to pay tax in installments has been increased

August 20, 2014

A record 156,000 requests from taxpayers has been received in July 2014 by Equitalia, Italy’s tax collection agency to pay...

Treaty between Mauritius and Rwanda now in force

August 20, 2014

The Double Taxation Avoidance Agreement (DTAA) between Mauritius and the Republic of Rwanda has now entered in force on the...

Malawi-UAE DTA will sign

August 20, 2014

In accordance with the initial media reports, investment promotion agency in Malawi has said that the nation will soon sign...

Employee Benefit Trust Amnesty has been withdrawn by HMRC

August 19, 2014

HMRC will withdraw a tax dispute settlement facility for businesses that used an Employee Benefit Trust (EBT) and from April...

Latvia denies call for VAT reduction for food

August 19, 2014

In response to the Russian embargo on most food products imported from the European Union, Latvia rejects call for VAT...

Poland – British Virgin Islands: Tax Information Exchange Agreement Signed

August 19, 2014

Poland and British Virgin Islands initialed TIEA (Tax Information Exchange Agreement) on 7 August 2014 after completion of Poland’s domestic...

Russia: No VAT on foreign IP sales

August 19, 2014

Intellectual property means the rights or license for copyrights, trademarks and patents to apply. According to the Federal Tax Service,...

Russia: New model for TIEA adopted

August 19, 2014

The Russian government adopted Ordinance No. 805 on August 14, 2014 that permitted the model for the tax information exchange...

Hong Kong and Republic of Korea Sign bilateral Double Tax Agreement

August 18, 2014

In order to avoid double taxation, Hong Kong and Republic of Korea signed a double taxation agreement on 08 July...

Czech Republic: Domestic VAT transactions filing from 2016

August 18, 2014

To file a new return describing all taxable transactions with other Czech registered businesses will be required for Czech VAT...

Brazil: Extending tax breaks law for IT industry

August 17, 2014

Brazil recently approved a law for expanding tax breaks for its IT industry on 11 August 2014. This law extends...

Canada: Budget to feature income tax cut

August 15, 2014

The Ministry of Finance could include federal income tax rates cuts. According to the Finance Minister, there will be a...

South Korea- Tighten Thin Capitalization Rules

August 14, 2014

Under revised thin capitalization rules of South Korea proposed for 2015, overseas multinational companies performing business would have to pay...

Chile: Amendments in tax bill propose new corporate tax system

August 14, 2014

The Government has published a bill to adjust the proposals in the original tax reform legislation. The amendments to the...