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US: IRS Confirms Deductibility of Puerto Rican Excise Tax

April 20, 2014

The IRS has confirmed in a document published recently (Letter 2014-0006) that the IRS will not challenge the claim that...

US: IRS Assists Taxpayers on Estimated Tax Payments

April 20, 2014

In the US the IRS has given some assistance to taxpayers who are due to make estimated tax payment. This...

US Congress Examines Small Business Tax Problems

April 20, 2014

The burden of tax compliance is often much greater for small businesses than for larger enterprises. A new National Small...

TIEA between Bahrain and Canada becomes effective

April 20, 2014

From April 13, 2014, the Tax Information Exchange Agreement (TIEA) concluded by Bahrain with Canada became effective. These agreements are...

Spanish Tax Cuts to Favor Low Income Workers

April 20, 2014

The Spanish government has emphasized its intention to lower the personal income tax for all individuals and in particular for...

Singapore – Employer contributions to overseas pension funds

April 20, 2014

The Inland Revenue Authority of Singapore (IRAS) has issued information on its website explaining amended rules relating to the concessionary...

Protocol to treaty between Belgium and Switzerland signed

April 20, 2014

On 10 April 2014, Belgium and Switzerland signed an amending protocol to the double taxation treaty originally concluded between the...

OECD releases discussion drafts on hybrid mismatch arrangements

April 20, 2014

On 19 March 2014, the Organization for Economic Cooperation and Development (OECD) published for consultation two Public Discussion Drafts in...

OECD releases discussion draft on tax challenges of the digital economy

April 20, 2014

On 24 March 2014, the Organization for Economic Cooperation and Development (OECD) published a discussion draft relating to addressing the...

New Zealand’s Compliance Activities Paying Dividends

April 20, 2014

In New Zealand the Revenue Minister has said that every dollar spent in efforts to combat tax evasion in the...

Luxembourg – Real Estate CGT Deferral Abolished

April 20, 2014

Luxembourg has issued draft legislation to scrap the regime permitting the deferral of the taxation of real estate capital gains...

Luxembourg set for bigger losses on 2015 EU electronic VAT rule change

April 20, 2014

Luxembourg considers that it could lose €800 million per year as a result of the change in the rules used...

Luxembourg Lowers Shipping Registration Levy

April 20, 2014

Luxembourg has issued a draft regulation that would reduce shipping registration duties. The duties are computed by reference to a...

Korea – Free trade agreement signed with Australia

April 20, 2014

A free trade agreement (FTA) was signed on 8 April 2014 by representatives of the governments of South Korea and...

Japan and US Hold Talks On TPP

April 20, 2014

Talks were held between Japan and the US on 9 and 10 April 2014 to consider the remaining issues relating...

Italy: New Risk-based System of Tax Enforcement

April 20, 2014

The Italian Revenue Agency is attaching great importance to its examination of taxpayers in certain areas under a newly devised...

Italy Confirms Tax Cuts

April 20, 2014

The Italian Government has issued a three-year Economic and Financial Document (DEF), which includes both individual and corporate income tax...

Ireland – Online Portal to Administer Home Tax Break

April 20, 2014

Ireland’s revenue agency is using an online portal to manage a new property improvement tax relief called the Home Renovation...