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Spain Adopts Stability Program Confirming Future Tax Reform

May 11, 2014

Spain is to publish its plans for reform of the individual income tax system in June 2014. The reform would...

Romania’s Government approves tax exemption on reinvested profit

May 11, 2014

Under an emergency ordinance an exemption from tax on reinvested profits is to be put in place in July 2014...

VAT rate increases in Portugal

May 11, 2014

Among a range of austerity measures introduced in Portugal is a rise in the standard rate of VAT. The rate is...

Oman – Spain DTA

May 11, 2014

Oman and Spain signed a double taxation agreement (DTA) on April 30, 2014. No further details of this agreement are...

OECD Suggests Reforms to Increase Tax Contribution of Top Earners

May 11, 2014

A recent OECD report highlights the differences in income between the highest earners in the world and the rest of...

Netherlands Agrees to Amend the Russian DTA

May 11, 2014

The Netherlands are to begin negotiations with Russia to amend the double taxation agreement (DTA) concluded in 1996, with a...

Mexico Provides Oil Tax Reform Framework

May 11, 2014

A bill recently introduced by the government contains more detail of the new tax regime in respect of oil companies....

Japan – Possible BEPS-related implications under foreign dividend exclusion rule

May 11, 2014

In Japan the Cabinet Office has published a discussion paper setting out current tax issues for consultation. This paper concerns...

Italy – Reduced rates of IRAP regional tax

May 11, 2014

Decreto-Legge n 66/2014 which was published on 24 April 2014 reduces the rates of the regional tax on productive activities...

Italy Expands Employee Productivity Tax Incentive

May 11, 2014

Italy has extended into 2014 the reduced individual income tax rate for earnings from work arrangements that increase corporate productivity....

Israel and US Reach FATCA Agreement

May 11, 2014

Israel and the US have agreed on the wording of an intergovernmental agreement (IGA) that will enable the provisions of...

Ireland – Belgium DTA

May 11, 2014

Ireland and Belgium signed a Protocol to amend their double taxation agreement (DTA) on April 14, 2014. The new Protocol...

Ireland Increases Carbon Tax Rates

May 11, 2014

With effect from May 1 2014 the solid fuel carbon tax is to be raised. This change will bring the...

Hong Kong Reviews Efficacy of New Stamp Duties

May 11, 2014

The Legislative Council in Hong Kong recently requested information to enable it to assess the effect of tax changes that...

Canada – Tax proposals in Ontario’s 2014 budget

May 11, 2014

Ontario’s 2014 budget proposals were announced on 1 May 2014. The measures proposed in the budget include a personal tax...

Canada – Foreign affiliate anti-avoidance rule and tax efficient financing

May 11, 2014

The Federal Court of Appeal has upheld the verdict of a lower Court that the foreign affiliate anti-avoidance rule does...

Belgium – Tax benefits for investments in economic zones

May 11, 2014

Belgium has passed legislation providing for tax relief for employers making investments in particular economic zones. The relief is a...

Belgium ratified the DTA with Bahrain

May 11, 2014

On April 28, 2014, Belgium ratified the double taxation agreement (DTA) and Protocol signed with Bahrain. No further details of...