Posts by admin

ECJ: Advocate General decision on VAT exemption for management of special investment funds

December 12, 2013

The referring Court had asked for a preliminary ruling from the European Court of Justice (ECJ) in the case ATP...

Vietnam:  VAT regime is to be increased

December 12, 2013

The penalties for infringement of the Vietnamese VAT regime are to be increased.  The new charges were published in Decree...

United Kingdom – Changes of tax refund-procedure not compatible with EU law

December 12, 2013

The Court of Justice for the European Union (CJEU) issued a judgment on 12 December 2013 concluding that EU law...

Netherlands – Proposed tax agreement with Curaçao

December 12, 2013

Representatives of the governments of the Netherlands and Curaçao on 12 December 2013 reached an agreement on a new regulation...

India: Determines guarantee rates on loans are arm’s length

December 12, 2013

The Mumbai Bench of the Income-tax Appellate Tribunal held that bank guarantee rates cannot be mechanically applied in determining the...

Luxembourg: PM presented details of future Tax Reform

December 12, 2013

Xavier Bettel, the new Prime Minister of Luxembourg has presented a Government Declaration outlining details of plans to reform taxation...

Japan – Tax reform proposals for 2014

December 12, 2013

Recently, Governments of Japan agreed on “outline” of tax reform proposals for 2014. On 12 December 2013 among the tax...

Hungary: Summary of changes to the tax law provisions

December 12, 2013

Hungary’s changes to the tax law are likely to become effective from 2014. The changes would comprise of the following...

Canada: Legislation sanctioning Manitoba’s 2013 budget

December 11, 2013

By enacting legislation Manitoba’s 2013 budget evaluates took Royal Assent on December 5, 2013. The budget belonging tax measures provisions...

Bulgaria- Amendments in VAT Act 2014

December 11, 2013

Amended Bulgarian VAT act have been published by Bulgarian tax office which are in effect since January 1, 2014. The...

Trade Policy Review of Peru by WTO

December 11, 2013

The WTO has given a report on 15 November which showed that that Peru has decreased its trade tariffs from...

 Vietnam – published an official letters on Investment projects and severance allowances

December 11, 2013

The Vietnam tax authority’s published an official letters on 15 November 2013 on condition that: Business establishments are not allowed...

Vietnam:  Rubber export tariffs possible to be cut

December 11, 2013

Vietnam’s Ministry of Finance issued a Circular on 13 November 2013 it was reported that, reducing export tax rates on both...

US: IRS Under Further Pressure Over Erroneous Tax Refunds

December 11, 2013

Having recently noted that the United States Internal Revenue Service’s (IRS) processes can be ineffective in identifying tax returns claiming...

US Report Examines Distribution of Tax and Spending Policies

December 11, 2013

A Tax Foundation (TF) paper on the distribution of government tax and spending policies in the United States has noted...

UK: Shares issued under interest free loan agreement are taxable income

December 11, 2013

On 15 November 2013, it was reported that the United Kingdom First Tier Tribunal found that the receipt of shares...

Uganda: Tax reforms recommended by International Monetary Fund

December 11, 2013

Uganda requires applying the tax reforms to lift its revenue collection and it was recommended by The International Monetary Fund...

Turkey – CIT relief from certain services

December 11, 2013

A circular provides for the possibility of exempting 50% of the profit provided to non-residents for corporate income tax purposes...