Posts by admin

Hungary: Increased financial transactions and mining tax rates

July 21, 2013

The Hungarian Parliament passed legislation in late June 2013. The legislation is planned to increase the tax collections and other...

Hong Kong: SAR allows to enter into independent tax information exchange agreements

July 21, 2013

The Legislative Council of Hong Kong SAR passed the Inland Revenue (Amendment) Bill 2013 on 10 July 2013. The Bill allows...

France Considers Imposing a Surtax On Luxury Hotels

July 21, 2013

France is currently considering the idea of introducing a tax on luxury hotels.  A committee considering the issue has suggested...

EU: Applications for customs duty relief

July 21, 2013

For enterprises which want to claim relief from customs duty regarding imports of specific goods into the European Union (EU),...

ECJ: European Commission refers the matter of cross-border loss relief for UK groups

July 21, 2013

The European Commission has requested the European Court of Justice (ECJ) to determine that the conditions imposed by the UK...

ECJ: Decision in the Ocean Finance case

July 21, 2013

The case of Paul Newey (trading as Ocean Finance) concerned a UK loan broker arranging loans between lenders and borrowers...

China: Selecting the appropriate transfer pricing method in the automotive sector

July 21, 2013

China’s State Administration of Taxation (SAT) takes the view that locally-based automotive enterprises that are apparently carrying out activities with...

China: Draft revisions to the tax collection and administration law

July 21, 2013

China’s Tax Collection and Administration (Law) which is the basic procedural law governs China’s tax administrative matters. It became effective...

Canada: Extended CIT return deadline

July 21, 2013

Businesses in parts of Canada including Alberta have recently been affected by extreme weather conditions. This has caused damage to...

Azerbaijan: Tax authority joins the Executive Board of IOTA

July 21, 2013

The Ministry of Taxes of Azerbaijan has become a member of the Executive Board of the “Intra-European Organization of Tax...

Vietnam: Amendments to Corporate Income Tax Law

July 11, 2013

The general tax rate in Vietnam will be reduced to 22% from 1 January 2014. Also from 1 January 2016...

UN: Economic and Social Council to consider Manual on Transfer Pricing

July 11, 2013

A substantive session of the Economic and Social Council of the United Nations is taking place in Geneva from 1...

UK: Review of bank levy

July 11, 2013

When the introduction of the UK bank levy was announced in the 2010 budget it was also announced that there...

Treaty between Liechtenstein and Singapore signed

July 11, 2013

Singapore and Liechtenstein signed an Income Tax Treaty on 27 June 2013. The treaty will come into force after the...

Treaty between Kuwait and Slovenia enters into force

July 11, 2013

The Income and Capital Tax Treaty between Kuwait and Slovenia entered into force on 17 May 2013. The treaty generally applies...

Treaty between Japan and Portugal enters into force

July 11, 2013

The governments of Japan and the Portuguese Republic signed an income tax treaty in December 2011. The mutual notifications of...

Taiwan: Change to tax on gains from share transfer

July 11, 2013

Taiwan government passed the amendment to the Income Tax Act on 25 July 2013 about the taxation of gains arising...

Switzerland: Retain flat tax for foreigners

July 11, 2013

Switzerland’s Federal Council accepted a resolution rejecting the Swiss people’s initiative calling for an end to the flat tax regime...