Posts by admin

Singaporean DTA with Barbados in Force

April 28, 2014

The double taxation agreement (DTA) concluded between Singapore and Barbados came into force on April 25, 2014. The agreement which...

Romania: Announces tax reforms

April 28, 2014

Romania is introducing a tax exemption on reinvested profit as part of an emergency ordinance. The tax exemption is to...

OECD: Issues Latest Tax Transparency Ratings

April 28, 2014

Twelve new reports have been issued by the OECD’s Global Forum, emphasizing measures that need to be taken by jurisdictions...

Mexico: Appeal procedures for certain challenges to tax reform

April 28, 2014

Mexico’s Supreme Court of Justice (Suprema Corte de Justicia de la Nación) has postponed the hearing of appeals in amparo...

Luxembourg: Challenges european commission on Tax Information Injunctions

April 28, 2014

Luxembourg is to challenge the European Commission in the Court over tax rules that are alleged by the Commission to...

Colombia: Percentage of deemed interest on loans between companies and their partners or shareholders

April 28, 2014

The Colombian government issued decree 629 concerning income tax on 26 March 2014. This decree lays down that the deemed...

Colombia: issues regulations on thin capitalization provisions

April 28, 2014

The Colombian government issued Decree 627 on 26 March 2014. This Decree regulates the thin capitalization rules (article 118-1 of...

Italy: Government reduces IRAP rate and enacts other tax measures

April 28, 2014

Law Decree no. 66 published in the Official Gazette on 24 April 2014 confirms certain tax changes that were previously announced on...

Hong Kong: Raises air passenger security charge

April 28, 2014

Hong Kong’s Airport Authority has raised the passenger security charge with effect from June 1 2014. This charge is paid...

FATCA agreement between Australia and United States signed

April 28, 2014

Australia and the United States signed an agreement relating to US Foreign Account Tax Compliance Act (FATCA) on 28 April...

Exchange of information agreement between Belgium and Cayman Islands

April 28, 2014

An Exchange of Information Agreement (2014) was signed between Belgium and Cayman Islands on 28 April 2014. This agreement will...

Vietnam – Tax Revenue Receipts Increase

April 27, 2014

In Vietnam the tax collections in the first three months of 2014 reached VND134 trillion (USD6.37bn). This amount is 16.5...

US : Persons holding PFIC stock through tax-exempt organizations or accounts will be exempt from Form 8621 filing requirements

April 27, 2014

In the US the definition of a shareholder for the purpose of the Section 1291 regulations has been amended by...

US: ATR finds that Obama has proposed 442 tax hikes

April 27, 2014

The organization known as Americans for Tax Reform (ATR) has calculated that since 2009 President Obama has proposed 442 tax...

US – More taxpayers e-filing from home computers

April 27, 2014

An internal report issued by the Treasury Inspector General for Tax Administration (TIGTA) indicates that more US taxpayers are using...

US – IRS issues 2014 foreign housing tax deduction limits

April 27, 2014

In the US the Internal Revenue Service (IRS) has issued Notice 2014-29. The Notice sets out the inflation-adjusted limitations in...

US: GAO Reports that Large Partnerships are Avoiding the IRS Net

April 27, 2014

In a preliminary report from the United States Government Accountability Office (GAO) it is shown that the IRS is currently...

Australia: Guidance TR 2014/D4 clarifies the requirements of transfer pricing documentation

April 27, 2014

The transfer pricing rules require documentation to be prepared by the time of lodging the relevant tax return. Guidance in...