Posts by admin

Extension to the temporary exemption for commodities transactions in Peru

December 20, 2013

The tax authority of Peru published Resolution No. 355-2013/SUNAT in the Official Gazette on 12 December 2013. The Resolution would...

United Kingdom and Iceland sign a DTA

December 19, 2013

The United Kingdom and Iceland signed a double taxation agreement (DTA) on December 17, 2013.

New Zealand’s tax developments in 2013

December 19, 2013

Tax and policy developments in New Zealand for the year of 2013 were: Distributed the OECD tax “action plan” in...

Czech Republic: New Reduced VAT rate

December 19, 2013

The Czech coalition government is taking into account to introduce a new, deducted VAT rate for medicines. The EU VAT Directive permits...

Switzerland released report on Corporate Tax Reform

December 19, 2013

The Swiss Federal Council has released a final report of corporate tax reform III on 19 December 2013. The Swiss...

GST in Malaysia supported by the IMF

December 19, 2013

It was reported on 19 December 2013 that the International Monetary Fund’s (IMF) Mission Chief for Malaysia said at the...

Hong Kong: Ensure Support for SMEs

December 19, 2013

In response to a question in the Legislative Council, Hong Kong’s Secretary for Commerce and Economic Development confirmed that the...

Cyprus: VAT rate increases

December 18, 2013

From the 13 January 2014 there will be some changes to the VAT rates in Cyprus as follows: Standard rate...

Spain: New law regarding deferred tax assets

December 18, 2013

A new law (RDL 14/2013) exchange into Spanish tax law the EU directives and regulations regarding the deferred tax assets. The...

US – IRS Issue Guidance for Tax-Exempt Entities

December 18, 2013

The United States Department of the Treasury and the Internal Revenue Service (IRS) have announced they are issuing initial guidance...

US States Cut Taxes in 2013

December 18, 2013

Eighteen US states have cut taxes in the 2013 legislative year, reflecting an emphasis, following the recession, on pro-growth reforms...

US Signs FATCA Agreements with Cayman Islands and Costa Rica

December 18, 2013

The Department of the Treasury has announced that the United States has signed intergovernmental agreements (IGAs) with the Cayman Islands...

US: Internal Revenue Service (IRS) Prompted to Increase Online Payment Agreements

December 18, 2013

A new report from the Treasury Inspector General for Tax Administration (TIGTA), has found that, while rising numbers of taxpayers...

Switzerland: Ruled against the replacement of VAT with Energy Levy

December 18, 2013

Value-added tax (VAT) in Switzerland to be replaced with a tax on energy has been rejected by The Swiss Federal...

Switzerland: Rejects some key tax initiatives

December 18, 2013

The Swiss people rejected some major tax initiatives, which would have had a reflective impact on both the economy and...

Switzerland: Proposals on Multiple Tax Agreements has been Adopted

December 18, 2013

A number of double tax treaties proposal on tax information exchange has been adopted by the Swiss Federal Council. The...

South Africa – VAT changes for short-term insurance

December 18, 2013

South Africa’s tax authorities have issued a ruling addressing the value added tax (VAT) treatment of supplies made and received...

Russia-Amendments in Import, Export Procedures

December 18, 2013

The termination of agreement between Russia and the national guaranteeing association for TIR operations has ensured by Russia’s customs service...