Posts by admin

Spain: Denies to IMF to VAT hike

July 14, 2014

The Spanish government does not think to increase indirect taxation, despite advice to boost value-added tax revenues from the International...

India: Introduces new rules aim to reduce transfer pricing tax disputes

July 14, 2014

The government of India introduced new tax rules with their new budget target to reducing litigation with multinational firms over...

Slovak Republic: New improvements in Transfer Pricing

July 14, 2014

The Financial Directorate in Slovak Republic has issued a methodological guideline on the application of transfer pricing methods. According to...

Romania: Under pressure on VAT recovery process

July 14, 2014

Romania has formally requested by the European Commission to improve its Value Added Tax (VAT) recovery process. The caused for opinion from...

China: Online Tax Services initiated in the Free Trade Zone of Shanghai

July 14, 2014

State Administration of Taxation of The People’s Republic of China has introduced a number of innovative tax services in the...

Russia – The Central Bank issued FATCA guidance

July 14, 2014

The Central Bank of Russia has issued Bulletin No. 64 (1542) on July 10, 2014 regarding the rules for implementing...

FTA negotiation commences between Hong Kong and ASEAN

July 14, 2014

The first round of the proposed free trade agreement (FTA) between Hong Kong and the Association of Southeast Asian Nations...

Czech Republic – New BEPS-inspired statement regarding related-party transactions

July 14, 2014

The tax administration of Czech Republic has initiated a new attachment that will be needed for reporting certain related-party transactions...

Australia and Japan signed an agreement to promote economic relations

July 13, 2014

Australia and Japan signed an agreement to promote economic relations (EPA), in Canberra on 8 July 2014. The Australian Department...

Austria: Government accepts bill amending the Fiscal Criminal Act

July 13, 2014

The Austrian parliament accepted the bill amending the Fiscal Criminal Act 2014 on  July 2014. The draft bill aims at...

India – Budget for 2014-15

July 13, 2014

India’s new government announced their first Union Budget 2014-15 on 10 July 2014. Among the tax provisions in the budget...

IRS Need To Modernize Process of Filing Amended Tax Returns

July 13, 2014

The Internal Revenue Service is being urged to modernize the process of filing amended tax returns to allow for corrections...

Russia: Declares tax treatment applicable to contractual penalties

July 11, 2014

The Russian Finance Ministry released Letter No. GD-4-3/12689 issued on July 3, 2014, whereby it declared the taxation of contractual...

US imposes tariffs on steel from nine countries

July 11, 2014

The International Trade Administration (ITA) of the US Department of Commerce (DOC) has issued a final decision to impose anti-dumping...

Netherlands has signed a letter of intent with St Maarten and Curacao

July 11, 2014

On July 9, 2014, the Netherlands has reached an agreement with St Maarten and Curacao on a bilateral arrangement to...

Czech Republic: IMF rejects of third Czech VAT rate

July 11, 2014

The International Monetary Fund (IMF) has recently concerned about the lack of assurance about future fiscal measures in the Czech...

WTO issues mixed ruling in US-China trade remedy case

July 11, 2014

The WTO Appellate Body released its final ruling on a US countervailing duty law affecting Chinese products which is also...

Belgium: Value added Tax At-a-glance

July 10, 2014

The Value Added Tax (VAT) is named in Belgium “Belasting over de Toegevoegde Waarde” (BTW) or “Taxe sur la Valeur Ajoutée” (TVA)...