Posts by admin

Brazil: Tax exemption from Foreign Loans

June 6, 2014

The Finance Minister of Brazil declared that the government has announced to cut some tax on foreign loans and from...

New Zealand: Approved new tax rate on employer loans

June 6, 2014

The Revenue Minister has approved the new interest rate on employer’s loan, which will be 6.13% (previously it was 5.90%)....

Italy: New anti-avoidance rules

June 5, 2014

The Italian Parliament approved the Law no. 23 of 2014 in March 2014 empowering the government to enact a partial...

Tax Treaty Between Cyprus And Spain Enters Into Force

June 5, 2014

The Income Tax Treaty between Cyprus and Spain entered into force on 28 May 2014 and its provisions will come...

Poland: Recommended to revise the tax breaks

June 5, 2014

The EC (European Commission) suggested Poland to revise its value added tax because of Poland’s “extensive system” of decreasing rates,...

Canada – Tax deduction for SMEs from Quebec 2014-15 budget

June 5, 2014

The Minister of Finance and the Economy of Quebec has delivered the province’s 2014 budget on June 4, 2014. The...

Canada – Newfoundland Budget substantively enacted in 2014

June 5, 2014

Newfoundland Bill 13 containing tax changes has declared as Newfoundland Budget in the 2014. As Newfoundland has a majority government,...

Canada: Searching for Block Expanded Expat Voting Rights

June 5, 2014

The Government desires to appeal a recent court judgment stating that expats who have been outside the country for more...

Venezuela – Regulations regarding commercial property leases

June 5, 2014

A new legislative decree has published in late May 2014 including changes to the rules regarding commercial property leases in...

France: Draft guidelines on deduction of interest paid between related companies

June 5, 2014

The French tax authorities have issued draft guidelines regarding the interest deduction limitation. The draft guidelines rejects the deductibility of...

EAC Budget details for 2014/15

June 4, 2014

The Deputy Minister for EAC of Tanzania announced the budget for East African Community (EAC) for 2014/15. The Budget was...

Mexico: Presented Further Maquila VAT Refunds

June 4, 2014

The finance minister of Mexico has introduced a 16% VAT on imports through maquila and it will start from 1...

Canada: New guidance regarding contemporaneous documentation

June 4, 2014

The CRA’s updated Transfer Pricing Memorandum (TPM-05R) clarifies the CRA’s process for requesting contemporaneous documentation and includes specifically four new...

IRS warns filing deadlines for US Expats

June 4, 2014

US citizens and resident living overseas who are eligible for an automatic two-month extension after the regular April 15 tax...

Turkey enlisted as having FATCA in effect

June 4, 2014

Turkey has reached an intergovernmental agreement (IGA) with the United States to execute the Foreign Account Tax Compliance Act (FATCA),...

Romania holds over progressive personal income tax rates

June 3, 2014

Due to several technical issues relating to tax submission and payments, the Romanian Government will not yet implement a progressive...

Philippines- to issue Advance Pricing Agreement (“APA”) procedures

June 3, 2014

First APA procedures to be released by the Bureau of Internal Revenue (“BIR”) in the Philippines. In order to meet...

Azerbaijan: Transition to the Modern Model of the Concept of Tax Partnership Tax Control System with Horizontal Monitoring

June 3, 2014

The costly traditional tax control system is based on the principles of taxation established 55-60 years ago. The traditional tax...