Posts by admin

New Zealand: Approved New Tax Bill

July 2, 2014

The Inland Revenue has recently enacted a tax bill on 30 June 2014, which is reflected on annual rates, employee...

IMF outlines its role in international tax issues

July 2, 2014

The IMF has prepared a paper outlining the most important international tax issues currently under discussion and setting out a...

Brazil: The financial transactions tax on cross-border loans

July 1, 2014

The governments released a Decree no. 8,26314 on June 2014, for the purpose  to assigns new maturity term for cross-border...

Greece: Planning to cut tax rates for oil and gas companies

July 1, 2014

The tax rate of oil and gas explorers has been planned to reduce to 25% from current tax rate of...

Peru: New Bill to Promote Investment

July 1, 2014

The Peruvian Executive proposed to the Congress on 18 July 2014 ‘Bill 3627-2013-PE’ which would introduce a number of tax...

Brazil: Modify the tax amnesty programs

July 1, 2014

Brazil recently published MP 638/14 provisional measure in order to expand the availability of the tax amnesty program under REFIS...

Brazil: Normative Instruction no. 1,037/2010 established the list of low-tax jurisdictions and privileged tax regimes

July 1, 2014

The Federal Revenue Authorities released Interpretative Normative Instruction (no. 1,474/2014) on 20 June 2014. Certain Swiss tax regimes will be...

OECD: BEPS project update with developments of Asian countries

July 1, 2014

In order to stop tax avoidance and evasion Asian countries are actively taking part with the Organization for Economic Cooperation...

Russia – Legislation needed for FATCA implementation

July 1, 2014

Legislation that is needed to implement the FATCA regime in Russia was signed into law on June 30, 2014. The...

Uruguay-Ratification of TIEA with Australia and Canada

July 1, 2014

The government of Uruguay has announced that it has ratified the tax exchange information agreements with Australia and Canada. The...

India: New government will present its first federal budget on 10 July 2014

July 1, 2014

Indian Finance Ministe r will present the budget for the 2014/15 financial year on July 10, 2014.

Brazil: Tax Break for Automobile and Furniture Industries

July 1, 2014

On June 30, 2014 the Finance Minister has announced to extend a tax break for the car and furniture industries...

Russia: MoF clarifies extra requirements that must be satisfied by tax resident certificate

July 1, 2014

The Ministry of Finance (MoF) has issued Letter No. ОА-4-13/5288 on March 21, 2014. It describes the rules that US...

Germany: To focus on tax reforms in G7

June 30, 2014

As per German media report of 29 June 2014, Germany wants to focus on tax reform after taking over the...

Poland: Proposal for single VAT rate

June 30, 2014

The Finance Ministry of Poland revised its standard and reduced rate of VAT for creating a single rate to simplify...

Vietnam: Regulation on VAT and Other measures

June 30, 2014

Recently, Vietnamese authorities have issued following new regulation: -Value added tax (VAT) on imported animal feed and with respect to...

Czech Republic: Amendment of VAT Law has submitted to parliament

June 30, 2014

The government has submitted a VAT Law amendment to the parliament initiating changes to supply rules in telecommunications field, broadcasting...

Canada: Guidance of FATCA clarifies IGA reporting obligations

June 30, 2014

The guidance confirms that Canadian entities could be subject to the U.S. Foreign Account Tax Compliance Act (FATCA), which takes...