Posts by admin

Russia: Ministry of Finance clarifies the transfer pricing rules

February 17, 2014

The Ministry of Finance Letter No. 03-01-18/53941, issued on 10 December 2013, clarifies the rules to determine the income for...

Russia’s draft DTAs with Belgium and China

February 17, 2014

On 5 February 2014, Russia’s draft Double Tax Avoidance Agreements with China and Belgium were tabled before Russia’s Cabinet for...

Romania: Prime Minister considers tax breaks for reinvested profits

February 17, 2014

Romania’s Prime Minister has said that he hopes to have details ready on a planned tax break on reinvested profits...

Romania: Foreign energy traders are now permitted to reclaim input VAT

February 17, 2014

The European Court of Justice has ruled that foreign energy traders in Romania are now permitted to reclaim input VAT...

Revised DTA between Poland and Singapore in force

February 17, 2014

The revised version of the Singapore-Poland avoidance of double taxation agreement (DTA) entered into force on 6 February 2014. It...

Portugal: Collection of Food Security Tax being enforced

February 17, 2014

The Portuguese Government is finally taking action to enforce payment of the country’s food security tax from operators of large...

United States – IRS releases transfer pricing audit “roadmap”

February 17, 2014

The IRS Large Business & International (LB&I) division has released a transfer pricing audit “roadmap” that is intended to be...

Peru approves tax treaties

February 17, 2014

The income tax treaties of Peru with Korea, Mexico, Portugal, and Switzerland recently obtained approval by the Peruvian Congress. The...

OECD releases paper on transfer pricing documentation

February 17, 2014

On 30 January 2014, as part of the action plan on base erosion and profit shifting, the OECD published a...

Netherlands amends the preliminary tax assessment procedure

February 17, 2014

The amendments to article 23(2) of the Implementing Regulations of the 1994 General Tax Law relating to the issuance of...

Malaysia: New Public Ruling on Withholding Tax on Special Classes of Income

February 17, 2014

The Inland Revenue Board of Malaysia issued Public Ruling No. 1/2014 (PR No. 1/2014) on Withholding Tax on Special Classes...

DTA between Malawi and Netherlands terminated

February 17, 2014

Malawi has terminated the double taxation agreement (DTA) previously in force between Malawi and the Netherlands. The termination takes effect...

Taiwan – Income tax exemption for royalties and technical service fees

February 17, 2014

Taiwan has introduced an amendment concerning the rules governing taxpayers (including foreign for-profit entities) that apply for an exemption from...

Luxembourg: VAT rate will increase

February 17, 2014

The Luxembourg Prime Minister has announced that, Luxembourg is set to raise its standard rate of VAT in 2015. The...

Luxembourg and Mauritius sign DTA Protocol

February 17, 2014

Luxembourg and Mauritius have signed a protocol amending the bilateral double tax agreement between the two countries. This protocol modifies...

Italy’s Transfer Pricing Changes In 2014

February 17, 2014

Italy has introduced a number of transfer pricing-related changes within its Finance Act 2014 (Law No 147/2013). These changes will...

Italy dealing with transfer pricing legislation domestically

February 17, 2014

According to a verdict of the Italian Supreme Court in July 2013, internal transfer prices must follow the arm’s-length principle....

Ireland: High taxes may reduce competitiveness

February 17, 2014

The Irish Government has been warned to control further increases in personal taxes by the head of the country’s largest...