Posts by admin

Russia planning to implement rules to follow FATCA

August 1, 2013

One of the main issues facing Russian financial institutions is the fact that recent legal obstacles do not allow them...

Romania: Late payment penalty provision

August 1, 2013

Government Emergency Ordinance no. 50/2013 regarding certain fiscal measures has been published in the Official Gazette of Romania (Part I,...

Protocol to DTA between Austria and Canada signed

August 1, 2013

A second protocol to the Austria –Canada Income Tax Treaty which was signed on 1 March 2012 will enter into force...

Portugal: New VAT e-invoice requirements

August 1, 2013

After the execution of the second EU VAT Invoice Directive in Portugal from the beginning of 2013, the tax office...

Pakistan: Tax law changes enacted in Finance Act 2013

August 1, 2013

Pakistan’s Finance Act 2013 implements the tax changes proposed in the budget for 2013. The changes came into force from...

Oman: VAT could be introduced by 2016

August 1, 2013

For implementing a value added tax (VAT), the Oman government is considering a framework. This would be generally in line...

OECD releases white paper on transfer pricing documentation

August 1, 2013

In its action plan for combating base erosion and profit shifting the OECD made a commitment to developing recommendations on...

OECD issues a revised discussion draft on intangibles

August 1, 2013

For some time the OECD has been conducting a project on transfer pricing aspects of intangible assets including consideration of...

United States and Swiss agree on FATCA signification

August 1, 2013

The United States and Swiss governments have signed a memorandum of understanding on interpretations of their agreement on implementing the...

Hungary- Amendments to Tax Law

August 1, 2013

Hungary’s Act CXXIII of 2013 on the modification of Certain Laws on Public Burdens was announced on 30 June 2013....

Malta: Planning to merge Revenue departments

August 1, 2013

The government of Malta is planning to merge the Inland Revenue Department, Customs Department and the VAT Department into one...

Malaysia signs new DTA with Poland

August 1, 2013

Malaysia has signed a new income tax treaty with Poland on 8 July 2013; the new treaty will replace the...

Kuwait and Hong Kong: DTA entered into force

August 1, 2013

The Hong Kong Special Administrative Region and Kuwait signed an Income Tax Treaty in May 2010. In a press release...

Italy: Requirement of additional anti-fraud reporting on taxable supplies

August 1, 2013

All resident companies in Italian are now obliged by the Italian tax office to produce an annual report detailing all...

Ireland announces submission of Financial Statements in iXBRL

August 1, 2013

Since November 2012, financial statements in iXBRL format have been accepted in ROS. Corporation tax and income tax filers have...

DTA between Australia and Mauritius entered into force

August 1, 2013

The Double Tax Agreement (DTA) between Australia and Mauritius entered into force on 31 May 2013. The treaty will be...

Hong Kong: Tax laws introduced for Islamic Finance

August 1, 2013

The Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment) Ordinance 2013 was gazetted and came into operation on...

Hong Kong: Explanation of IPR, Royalties Taxation

August 1, 2013

The Inland Revenue Department (IRD) of Hong Kong has issued amended interpretation and practice notes for taxpayers regarding the profits...