Posts by admin

Spain: Tax ruling expanding capital gains tax to indirect transfer of Spanish real estate by Luxembourg entities

November 19, 2013

Spanish tax authority recently published a ruling regarding indirect transfer of Spanish real estate by a Luxembourg entity which is...

Spain: National budget bill 2014

November 19, 2013

National budget bill of Spain for 2014 was presented on 30 September 2013 in the Spanish Parliament. The 2014 draft...

Saudi Arabia –Signed the Multilateral Convention of OECD

November 19, 2013

The government of Saudi Arabia has signed the Multilateral Convention of OECD on Mutual Administrative Assistance in Tax Matters. This...

For Far-East region Russia has sanctioned Federal Law

November 19, 2013

Russia’s President has signed Federal Law No. 267-FZ on September 30, 2013 to provide incentives for completing regional investment program...

Portugal and Switzerland: Tax treaty enters into force

November 19, 2013

According to a press release, Switzerland, Portugal, Bulgaria, Slovenia and the Czech Republic signed treaty agreement for the avoidance of...

Portugal: VAT amnesty until end of December 2013

November 18, 2013

The tax office of Portugal has announces that- with reduced fines until 20 December 2013 outstanding VAT may be declared....

Portugal: Lower tax burden in 2015

November 18, 2013

The Finance Minister of Portugal has indicated that the Government is aiming to reduce the tax burden on workers in...

Portugal: Budget VAT announcements

November 18, 2013

The draft VAT Bill 2014 of Portugal contains a range of amendments to the Portuguese VAT rules. According to the...

Canada and Poland –Tax treaty enters into force

November 18, 2013

Poland and Canada was signed income tax treaty on 14 May 2012, which was replaces income tax treaty from 1987....

Oman: Clarification of tax rules

November 18, 2013

The Oman government has clarified that the tax rules in Oman require the following: Within three months from the date...

OECD publishes bribery and corruption awareness handbook for tax examiners

November 18, 2013

The  published a Recommendation on cooperation between tax and other law enforcement bodies to deal with serious crimes in 2010....

New Zealand – Supports BEPS Action Plan

November 18, 2013

The tax department of New Zealand released a report that endorses measures outlined by the Organization for Economic Cooperation and...

New Zealand – Increase in the Family Tax Credit

November 18, 2013

The New Zealand Inland Revenue has announced that the minimum family tax credit will be increased starting from 1 April...

Japan: tax reform outline announced

November 18, 2013

The Japanese government has officially decided to increase the rate of consumption tax from the current 5% to 8% with...

Israel: Action required for releasing trapped profits by 11 November 2013

November 18, 2013

Only those companies have to apply the temporary partial relief from Israeli corporate income tax until 11 November 2013, who...

India : Loan simplification services and fees of foreign branches  

November 18, 2013

In a recent decision, the Mumbai Bench of the Income-tax Appellate Tribunal found that: Services provided by a taxpayer bank...

IMF recommends that Ukraine postpone its plan to implement lower tax rates in 2014

November 18, 2013

According to a Ukrainian government press release issued on 28 October 2013, delegates from the International Monetary Fund (IMF) have...

Hungary – Proposed year-end tax law changes

November 18, 2013

The Minister of the National Economy of Hungary has submitted to the Parliament the year-end proposals of tax law changes...