Posts by admin

South Africa: Tax consequences of debt reduction transactions

September 8, 2013

South Africa’s Taxation Laws Amendment Act, 2012, includes provisions that revise the tax treatment of debt reduction transactions entered into...

South Korea- Planning of Acquisition Tax Cuts

September 8, 2013

The South Korean Government announced on 30 August 2013 that the tax rates on home purchases would be decreased in...

Switzerland agrees plans for settling US Tax conflict

September 8, 2013

The Federal Council of Switzerland has agreed to plans for reconciling the Confederation’s tax conflict with the US. The Council...

UK introduces employee shareholder status

September 8, 2013

From 1 September 2013 employee shareholder status has been introduced in the UK. This allows an employer to enter into...

UK: alternative dispute resolution is now available to SMEs and individuals

September 8, 2013

From 2 September 2013 alternative dispute resolution (ADR) is now available to small and medium enterprises (SMEs) and individuals.  If...

UK: Corporation tax statistics

September 8, 2013

On 30 August 2013 HMRC released the latest corporation tax statistics. The publication shows the statistics for corporation tax receipts...

Transfer Pricing Brief: August 2013

September 8, 2013

Indonesia Certain small and medium enterprises may be taxed on the basis of 1% of turnover. Israel Lower rates apply...

Australia: Effective date of new Transfer Pricing rules

September 1, 2013

The new transfer pricing rules introduced by Australia are effective for years starting on or after 1st July 2013 and...

Belgium: Introduction of “fairness tax” on companies

September 1, 2013

The Belgian government has introduced a “fairness tax” on companies. Due to compensation for losses or notional interest deductions, if...

Brazil: Guidance Issued on the Pricing of Interest Bearing Transactions

September 1, 2013

The Brazilian Ministry of Finance has issued an ordinance 427/2013, On 2 August 2013, which finally define and clarifies the...

Canada – Amends to foreign affiliate dumping rules proposed by the Government

September 1, 2013

The draft legislation has introduced on August 16, 2013, to make revisions to the foreign affiliate dumping (FAD) rules that...

China signs agreement for mutual assistance in tax matters

September 1, 2013

China signed the Multilateral Convention on Mutual Administrative Assistance on 27 August 2013 in Tax Matters. The Convention provides a...

China: Eligibility of software enterprises for corporate income tax incentives

September 1, 2013

To clarify the rules concerning software enterprises that are eligible for certain corporate income tax incentives, China’s State Administration of...

Colombia: Agreement with World Bank on Tax Matters

September 1, 2013

The World Bank signed an agreement with Colombia on August 19, 2013. This is to improve its tax collection. The...

Croatia amends the General Tax Law

September 1, 2013

Amendments to the General Tax Law have been published in Official Gazette No. 73/2013 and they entered into force on...

Croatia: Government proposes amendments to Individual Income Tax Law

September 1, 2013

The government has proposed amendments to the Individual Income Tax Law on 25 July 2013. Following the constitutional court decision...

Cyprus: Tax treatment of loan write-off by a financial institution

September 1, 2013

Recently guidance with respect to the tax treatment of a loan write-off by a financial institution, for the benefit of...

Czech Republic – Postponement of provision to implement FATCA

September 1, 2013

A package of proposals has been submitted by the Finance Ministry for making consideration by the Parliament but legislative consideration...