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Switzerland: Approved Law To Maintain FATCA

June 11, 2014

The Federal Council of Switzerland has determined to bring together the Foreign Account Tax Compliance Act (FATCA) Act and the...

Egypt: New capital gains tax introduced

June 10, 2014

Egypt’s finance minister has announced the introduction of a 10% capital gains tax on profits made on the stock market....

India: Mumbai Tribunal settles charge of penalty in case of a transfer pricing adjustment

June 10, 2014

Recently in the case of Deloitte Consulting India Pvt Ltd (Taxpayer) [TS-148-ITAT-2014(Mum)-TP] regarding levy of penalty in the case of...

Transfer Pricing Brief: May 2014

June 10, 2014

Australia Corporate Income Tax rate 30% for periods to 2013/14.Capital Gain Tax rate-Taxed at the same rate as business income....

Qatar and Kyrgyzstan sign intergovernmental agreement on double taxation avoidance

June 10, 2014

The governments of Qatar and Kyrgyzstan signed an intergovernmental agreement on the double taxation avoidance and prevention of Fiscal Evasion...

Canada: Tax Rules that put pensioners at risk

June 10, 2014

The pension rules in Canada have failed to cope up with long life expectancies, and impose Registered Retirement Income Fund...

New Zealand: Tax Reform Bill Passed

June 10, 2014

Tax reform bills has been presented to the Parliament, by the Revenue Minister, on June 19, 2014 in order to ...

Lithuania-UAE: DTA approved by UAE

June 10, 2014

The United Arab Emirates’ cabinet has allowed the Lithuania – United Arab Emirates Income Tax Treaty on June 9, 2014.

Uruguay-Temporary reduction of VAT on purchase by debit cards and credit cards

June 10, 2014

The government of Uruguay is planning to temporarily cut VAT by 4% on purchase by debit cards and by 2%...

Nigeria: Advance ruling in Tax authority not binding

June 9, 2014

The Nigerian company and the non-resident companies (a Portuguese company and a French company) signed a consortium contract with an...

Chile: TP Return is due end of June

June 9, 2014

The rules in Chile regarding transfer pricing for cross-border transactions were revised in September 2012. By the 2012 tax reform,...

South Africa and United States signed agreement to share tax information

June 9, 2014

U.S. Ambassador to South Africa Mr Patrick H. Gaspard and South African Minister of Finance, Mr Nhlanhla Nene signed an...

Luxemburg: Corporate exit tax rules has been revised and effective from 8 June 2014

June 8, 2014

Exit tax provisions for corporate entities has been amended by the Luxembourg Parliament on May 13, 2014 and approved by...

Cyprus and UAE Tax treaty entered into force

June 6, 2014

The income tax treaty between Cyprus and UAE became effective as of 1 January 2014. The treaty was signed on...

Cyprus: Tax Benefits for Holding Company

June 6, 2014

Cyprus has the most favourable tax system for the companies incorporated or registered under any Cyprus law, and any foreign...

Switzerland and United States FATCA agreement enters into force

June 6, 2014

The Federal Council decided, on June 6, 2014, that the FATCA agreement between Switzerland and the United States came into...

Russia: Clarification of tax treatment of income derived from alienation of immovable property

June 6, 2014

The Ministry of Finance has issued Letter No. 03-08-05/13287 on March 26, 2014 describing the income tax treatment derived by...

Russia: Draft law on information exchange with foreign tax authorities

June 6, 2014

The Russian government has allowed a draft law initiating the process of information exchange with foreign tax authorities on May...