Posts by admin

Pakistan: Supreme Court rules against increase in sales tax

July 11, 2013

The Supreme Court (SC) ruled on 21 June 2013, that the government was not ratified to impose or increase sales...

Italy: 1% VAT rise has been delayed until 1 October 2013

July 11, 2013

The Italian government announced on 26 June 2013 that the introduction of the increased rate of value added tax (VAT) will...

Germany: Enactment of Cross-border profit allocation rules

July 11, 2013

Enactment of legislation regarding cross-border profit allocation was published in the Germany federal law gazette on 29 June 2013. Changes with...

Croatia joins European Union

July 11, 2013

Croatia became the 28 member of the European Union on July 1, 2013. For customs purposes, goods in free circulation...

China: VAT rate on coalbed methane, shale gas production

July 11, 2013

The State Administration of Taxation of China has issued guidance according to which oil and gas companies engaging in coalbed...

Belgium: Proposes legislative changes to various tax measures

July 11, 2013

Pursuant to budget control provisions for 2013 and the budget for 2014, the Belgian government has agreed to change certain...

Belgium: Enactment of corporate income tax, individual tax and VAT measures

July 11, 2013

The Law containing tax and financial measures and measures regarding sustainable development was published on 28 June 2013 in the...

Transfer Pricing Brief: June 2013

July 9, 2013

Australia Intangible property-Arrangements for the license or transfer of intangibles must conform to the arm’s length principle.  Financial services-A consultation...

UK: VAT deductible in respect of certain payments relating to loyalty cards

July 8, 2013

The UK Supreme Court reached a decision on 20 June 2013 in respect of CRC (Appellant) v Aimia Coalition Loyalty...

Colombia and Mexico DTA will enter into force on 11 July 2013

July 8, 2013

The Income and Capital Tax Treaty between Colombia and Mexico will enter into force on 11 July 2013. The treaty will be...

Slovenia: revised budget approved

July 8, 2013

The Government of the Republic of Slovenia approved the draft revised budget for 2013 on 20 June 2013. The main...

Poland: Hydrocarbon tax from 2020

July 8, 2013

Poland’s environment ministry has changed its proposal on hydrocarbon law which is concerns of companies exploring for shale gas. The...

Indonesia: Issued regulations on tax rates for Small and Medium Enterprises

July 8, 2013

The government of Indonesia issued Regulation No. 46/2013 on 12 June 2013 named as The Regulation for Taxation of Small and...

India: Internal TNMM will be given priority over external TNMM

July 8, 2013

The Mumbai Bench of the Income-tax Appellate Tribunal (ITAT) recently it has been held that the transactional net margin method...

France: National Tax Evasion Action Plan of Government

July 8, 2013

The government of France published national action plan for improving country’s tax transparency. The Action Plan states that France is committed...

DTA between Ecuador and Singapore signed

July 8, 2013

Singapore and Ecuador signed an Agreement for the Avoidance of Double Taxation (DTA) on 27 June 2013.  The provisions of...

Taiwan: Parliament Passes Revised Capital Gains Tax on Stocks

July 8, 2013

The Government amendment to the Income Tax Act on 26 June 2013, which would drop the plan for an 8,500-point...

Russia: Elimination of Cyprus from the ‘Black List’

July 8, 2013

The Ministry of Finance of the Russian Federation has removed Cyprus from the ‘Black List’ that applies for the purpose...