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Norway reduces corporate tax rate and enacts interest deductibility restrictions

February 3, 2014

On 13 December 2013, the newly proposed Norwegian interest deduction limitation rules were adopted by the Norwegian Parliament and the...

Netherlands: New Decree on substance requirements enters into force

February 3, 2014

From 1 January 2014, a new Decree entered into force which codifies the existing administrative guidance on substance requirements for...

Malaysia Confirms Change of Policy on Vehicle Excise Tax Cut

February 3, 2014

Despite last year’s election manifesto promise, and persistent calls for a reduction in Malaysia’s high car prices, the International Trade...

Japan Studies Corporate Tax Rate Cut for Growth Strategy

February 3, 2014

Japan’s Prime Minister is looking again at lower corporate taxes to provide a new impetus to growth in the economy....

Italy: FATCA intergovernmental agreement signed with United States

February 3, 2014

Representatives of the governments of Italy and the United States signed an intergovernmental agreement to implement the provisions of U.S....

Italy Cancels Budget’s Automatic Tax Deduction Changes

February 3, 2014

The Italian Government has decided to include proposed measures to rationalize individual income tax deductions within the framework of the...

Italy Allows Taxpayers to Regularize Undeclared Foreign Capital

February 3, 2014

Recently the Italian Government approved a new decree to constitute a legal framework to allow for the regularization of undeclared...

Ireland: Anti-VAT fraud measures

February 3, 2014

To prevent fraud in Irish VAT compliance, the Irish government introduced a number of measures through its Finance Bill which...

Hong Kong: Tax concession for captive insurance companies

February 3, 2014

On 8 January 2014 legislation was introduced into the Legislative Council to provide a profits tax concession to captive insurance...

EU Discloses Climate Change Plan

February 3, 2014

The European Commission has proposed the establishment of a market stability reserve at the beginning of the next Emissions Trading...

EU Steps Up Actions to Decelerate Custom Fraud

February 3, 2014

The European Commission expressed their intention to strengthen their effort to anti-fraud operations with the cooperation of the customs and...

DTA between Luxembourg and Kazakhstan entered into force

February 3, 2014

Luxembourg ratified the first Income and Capital Tax Treaty with Kazakhstan on 16 May 2013. The treaty was signed on...

Brazil: Withholding tax thresholds for Employee Profit-Sharing Plans Increased

February 3, 2014

The employee profit-sharing plan (participação nos lucros ou resultados, PLR) related tax withholding thresholds in Brazil have recently been modified....

Argentina: Highest tax to GDP in Latin America is reported

February 3, 2014

According to the Economic Commission for Latin America and the Caribbean (ECLAC), tax revenue in Argentina is the the largest and...

China and Liechtenstein sign a TIEA

January 31, 2014

China and Liechtenstein signed a Tax Information Exchange Agreement (TIEA) 27 January 2014. The agreement is consistent with the OECD’s...

Hungary and Jersey sign a TIEA

January 30, 2014

Hungary and Jersey signed a Tax Information Exchange Agreement (TIEA) on 28 January, 2014. The TIEA will enter into force...

TIEA between Costa Rica and Iceland published in gazette

January 30, 2014

The Costa Rica – Iceland TIEA, 2011 (Law No 9196) was published in the Official Gazette (Gaceta Digital de la...

Australian Government restates commitment to lower taxes

January 30, 2014

The Australian Prime Minister has reiterated his election pledge for “lower, simpler, fairer taxes,” and the new government will draw...