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Asia Pacific – ASEAN single market in 2015 and tax incentives

February 21, 2014

Beginning in 2015, the 10 member countries of ASEAN intend to form a common market—the ASEAN Economic Community (AEC)—based on...

US – Increase in Tax Return Filings

February 20, 2014

The Internal Revenue Service (IRS) has announced that filings of tax returns in the United States 2014 individual income tax...

Spain: 2014 Budget is in Effect

February 20, 2014

The 2014 Budget published by the Spanish government is now in effect as of 1 January 2014. The budget includes...

South Africa-selective tax hikes predicted In South African budget

February 20, 2014

South African Finance Minister present his 2014/15 Budget to Parliament on February 26, the South African Institute of Tax Professionals...

OECD – Revised timeline for BEPS discussion drafts and public consultations

February 20, 2014

The Organization for Economic Cooperation and Development (OECD) has released a revised timeline for action relating to base erosion and...

OECD – New Global Standard for Information Exchange supported by Jersey

February 20, 2014

The Chief Executive of Jersey Finance has expressed support for the Organization for Economic Co-operation and Development’s (OECD) new single...

Italy withdraws WHT on inbound payments

February 20, 2014

An instruction from the Italian Revenue Agency for all Italian banks to withhold a 20 percent tax on all payments...

France – Creation of new program for APAs and MAPs

February 20, 2014

The French tax authorities have announced the creation of a new program—Mission d’expertise juridique et économique internationale (MEJEI) – which will...

Belgian Finance Minister Preserves Savings Tax Perk

February 20, 2014

The Belgian Finance Minister has clarified that the 15 percent favorable rate of withholding tax, levied on income derived from...

Philippines Business Requests Elimination of Aviation Fuel Tax

February 19, 2014

The Joint Foreign Chambers of the Philippines (JFC) have requested that the Government cuts the excise tax on aviation fuel...

Japan: Confirms Consumption Tax Rate Changes by 2015

February 19, 2014

From April 1, 2014 to September 30, 2015, the rate of Japanese consumption tax will be increased from the current...

India: Finance Minister presents the Interim Budget

February 19, 2014

India’s Finance Minister presented the Interim Budget for 2014-15 in Parliament on 17 February 2014. In keeping with the convention...

Germany and Costa Rica sign a double tax agreement

February 19, 2014

On February 13, 2014, the Costa Rican government announced that it has signed an agreement for the avoidance of double...

DTA between New Zealand and Papua New Guinea

February 19, 2014

The double taxation avoidance agreement between New Zealand and Papua New Guinea entered into force on January 21, 2014. For...

Canada: Tax provisions in British Columbia’s 2014 budget

February 19, 2014

On 18 February 2014, British Columbia’s Finance Minister delivered the province’s 2014 budget. The British Columbia 2014 budget: Does not...

Switzerland – fiscal policy framework

February 18, 2014

The Swiss Federal Council has set out the fiscal policy framework that will be followed in the next budget process....

Philippines: Stock Exchange Presses For Tax Reform on REITs

February 18, 2014

The Philippines Stock Exchanges (PSE) will attempt to persuade the Government to loosen up regulations, most importantly the tax rules...

Nigeria: Potential risks in transfer pricing regulations “safe harbor”

February 18, 2014

Regulation 15 of the Nigerian transfer pricing regulations provides for a transfer pricing safe harbor. A safe harbor is a...