Posts by admin

Portugal: Tax law changes affecting corporate and individual taxpayers

February 24, 2014

The recently enacted changes following the 2014 budget proposals include some key changes to the corporate taxation regime as well...

South Africa: Revenue Service increases Transfer Duty Refund System

February 24, 2014

The South African Revenue Service’s (SARS’s) will not process manual requests for Transfer Duty refunds after February 17, 2014. This...

Singapore: New guidance on GST and income tax treatment of virtual currencies

February 24, 2014

The Inland Revenue Authority of Singapore (IRAS) has published guidance on GST and income tax treatment for virtual currencies. For...

Namibia: Budget for 2014/15

February 24, 2014

The 2014-15 Budget was presented by the Minister of Finance on 19 February 2014, and includes the following measures: Corporate...

Morocco & India: Amending protocol of DTA approved

February 24, 2014

The Moroccan Council of Government approved the amending protocol to the India and Morocco Double Taxation Agreement (DTA) on 20 February...

EU: Comments on global standard against tax evasion

February 24, 2014

The European Commission has issued a statement in support of an agreement by the G20 Finance Ministers on a new...

Denmark: Modifications to cash payment incentive for research and development

February 24, 2014

The Danish parliament adopted Bill (L 103) on 29 January 2014, under which companies may apply for a maximum cash...

Austria’s Finance Minister clarifies FTT Start in 2016

February 24, 2014

Austria’s Finance Minister has clarified that a European Union (EU) financial transactions tax (FTT) will not come into effect until...

Vietnam: Individual Income Tax Guidance for 2013

February 23, 2014

General Department of Taxation in Vietnam has confirmed the guidance in January 2014 on personal income tax for 2013 providing...

US: Proposes tax break for investment in infrastructure fund

February 23, 2014

The US is planning a tax break for US companies if they invest in the fund to be set up...

US: Internal Revenue Service (IRS) loses appeal on the reforms of legislation for tax preparers

February 23, 2014

The United States Internal Revenue Service (IRS) has lost its appeal on the reforms of rules for tax preparers against...

Ukraine: Reduces corporate income tax and Value Added Tax (VAT) rates

February 23, 2014

Ukraine has reduced corporate income tax and VAT rates from 1 January 2014. The reduced rates are: For corporate income...

UK: National audit office reports unrecovered tax debt of GBP15.1bn

February 23, 2014

National audit office of UK has reported that that HM Revenue and Customs (HMRC) is owed at least GBP15.1bn in...

UK: publishes draft legislation to eliminate stamp duty and stamp duty reserve tax on Exchange Traded Funds (ETFs)

February 23, 2014

HMRC has published for consultation a draft Statutory Instrument and a Tax Information and Impact Note on 17 February 2014....

DTA between UK and Albania entered into force

February 23, 2014

The Double Taxation Agreement (DTA) between UK and Albania has entered into force on December 30, 2013. The agreement follows...

UK refuses to reduce tourism VAT rate

February 23, 2014

The UK Government has refused to reduce tourism VAT rate with an argument that there is no connection between tax...

Spain: National court decides intra-group debt transaction as fraud of law

February 23, 2014

The Spanish National Court decides the case of Sabic Innovative against the tax administration (Appeal 367/2010) as fraud of law....

Slovak Republic: plans to raise its tax revenue by 0.3% of GDP in 2014

February 23, 2014

Slovak Republic has planned to raise its tax revenue in 2014 than previous year forecast. The government forecast to collect...