Posts by admin

South Africa: Details of Pensions and Savings Changes

March 23, 2014

In two new papers South Africa has given further detail on the tax free savings products and reforms to retirement...

Singapore: Income tax treatment of limited partnerships

March 23, 2014

The Inland Revenue Authority of Singapore (IRAS) has published an e-tax guide outlining the tax treatment of limited partnerships (LPs)....

Russia – Investment in Russian SEZs Increases in 2013

March 23, 2014

The Special Economic Zones (SEZs) set up by Russia attracted an increased amount of investment in 2013, totalling RUB 30.2...

Romania: Finance Minister proposes the introduction of a tax exemption

March 23, 2014

Romania’s Finance Minister plans to introduce an exemption from tax on reinvested profit. This exemption would be intended to encourage...

Protocol to treaty between Belgium and United Kingdom signed

March 23, 2014

Belgium and the UK have signed a second protocol to their double tax treaty.  The protocol clarifies that certain amendments...

Poland Announces Six-Year Tax exemption for Shale Industry

March 23, 2014

The government of Poland has put forward a proposal for an exemption from special taxes for the shale gas industry...

Philippines achieves Higher Tax Ratio In 2013

March 23, 2014

The fiscal deficit in the Philippines decreased in 2013 as there was a rise in the tax to GDP ratio...

OECD – Transfer pricing comparability data and developing countries

March 23, 2014

The OECD has prepared a paper in respect of transfer pricing comparability data and its use in developing countries. This...

OECD – Discussion draft on proposals to prevent treaty abuse under BEPS

March 23, 2014

In accordance with the action plan on base erosion and profit shifting (BEPS) the OECD has issued a discussion draft...

OECD – BEPS webcast to address transfer pricing documentation

March 23, 2014

The OECD is to hold a webcast on 2 April 2014 to explain the latest developments in carrying out the...

Nigeria – verification exercise for VAT and WHT

March 23, 2014

The Nigerian tax authority the Federal Inland Revenue Service (FIRS) is to perform a verification exercise in respect of withholding...

Nigeria – Companies requested to submit group transfer pricing documentation

March 23, 2014

In Nigeria the tax authority FIRS is asking taxpayers to send in transfer pricing documentation for the group to which...

New Zealand: Plans for an active income exemption for branches are to be deferred

March 23, 2014

On 14 March 2014,  New Zealand’s Minister of Revenue stated that consideration of an active income exemption for branches is...

New Zealand: Changes to Financial Reporting Requirements

March 23, 2014

The  Financial Reporting Act, which changes financial reporting obligations for most companies, comes into effect on 1 April 2014. Small...

Malta improves late VAT payment regime

March 23, 2014

Malta’s VAT authority is to lessen fines on late VAT payers, and improve communications with taxable persons looking to bring...

Malaysia: increasing scrutiny of transfer pricing

March 23, 2014

The transfer pricing landscape in Malaysia continues to develop with the Malaysian tax authority becoming increasingly proactive and vigilant in...

Luxembourg and Laos sign a DTA

March 23, 2014

The double taxation agreement (DTA) between Laos and Luxembourg entered into force on March 21, 2014. The agreement which was...

Luxembourg and Israel sign a DTA

March 23, 2014

Luxembourg and Israel signed a new double taxation agreement on 11 March 2014. No further details of this new agreement...