Posts by admin

Guernsey signs a TIEA with Belgium

May 18, 2014

On May 7, 2014 Guernsey signed a tax information exchange agreement (TIEA) with Belgium. The agreement had already been approved...

Germany: Draft guidance amending corporate tax loss limitation rules

May 18, 2014

Germany has issued draft guidance to replace prior advice on the corporate tax loss limitation rules. The current guidance was...

Germany strengthens VAT penalties

May 18, 2014

Germany is to impose stronger value added tax (VAT) penalties in relation to cases where the taxpayer has voluntarily disclosed...

EU – Update on financial transaction tax

May 18, 2014

The ECOFIN Council, consisting of economic and finance ministers of EU countries, has looked at a proposal for a financial...

EU – European Bankers Warn Of FTT Fallout

May 18, 2014

The European Banking Federation (EBF) considers that the introduction of a financial transaction tax (FTT) by some European Union member...

EU To Reduce Bureaucracy for Trade Sanctions

May 18, 2014

The European parliament has given its approval to new rules that will permit a rise in customs duties on the...

EU Member States Criticized for Lack of Transparency in FTT

May 18, 2014

At the EU’s ECOFIN meeting of economic and financial ministers on 6 May 2014 a joint statement was issued by...

EU Emissions Trading Changes Extended To EFTA

May 18, 2014

A new regulation has been inserted into the European Free Trade Association (EFTA) agreement to incorporate changes already made under...

DTA between New Zealand and Vietnam enters into force

May 18, 2014

A new double tax agreement (DTA) has been signed by New Zealand and Vietnam. The agreement which came into force...

EU: CJEU dismisses UK’s challenge to EU Financial Transaction Tax

May 18, 2014

The Court of Justice of the European Union (CJEU) has dismissed an attempt by the UK to challenge the legality...

China: Announces the extensionof employment-boosting tax breaks

May 18, 2014

The Ministry of Finance and the State Administration of Taxation (SAT) has jointly issued an announcement that tax breaks to...

US: Committee Selects US Tax Extenders to Make Permanent

May 11, 2014

The Chairman of the US Ways and Means Committee has conducted a hearing to determine which “tax extenders” that expired...

US May Close Door on Russian FATCA IGA Talks

May 11, 2014

Talks with Russia on an intergovernmental agreement (IGA) in connection with the FATCA legislation have been suspended by the US....

US CEOs United On Need for Tax Reform

May 11, 2014

An annual survey of the views of US Chief Executive Offices (CEOs) reveals that more than 80 percent of those...

Estonia: Announces the corporate income tax rate

May 11, 2014

The government has announced its intention to reduce the corporate tax rate to 20% in 2015.

UK:HMRC challenged on VAT default surcharge

May 11, 2014

The victory of a newspaper group in a legal action against HMRC in relation to a large VAT penalty shows...

Ukraine Unveils IMF-Backed Fiscal Reforms

May 11, 2014

A raft of economic reforms has been published by Ukraine including some tax measures. Government revenue is to be increased...

Thailand may face VAT rate increase

May 11, 2014

The VAT rate in Thailand may need to be increased from 7 percent to 10 percent as the economic growth...