Posts by admin

Israel: Budget for the FY 2013-2014

July 8, 2013

Israeli cabinet has approved the Budget for fiscal year 2013-2014. The VAT rate has been raised to 18% as from...

India: CBDT has withdrawn the guideline of profit-split method for transfer-pricing transactions, and amends the circular on contract R&D

July 8, 2013

The Central Board of Direct Taxes (CBDT) withdrew Circular No. 2/2013 on June 2013as it gives the impression that the...

Hong Kong: Tax reduction bill

July 8, 2013

The Inland Revenue (Amendment) (No. 2) Bill 2013 was passed on 26 June 2013 by the Hong Kong Legislative Assembly to...

ECJ gives a preliminary ruling on the place of supply of storage services

July 8, 2013

RR Donnelly Global Turnkey Solutions Poland supplied services related to the storage of goods to companies located inside and outside...

UK: Consultation on community amateur sports clubs

July 3, 2013

The UK government has published a consultation document in respect of tax relief given to community amateur sports clubs. The...

Switzerland: Plans to raise VAT for Pension Fund

July 3, 2013

Switzerland has declared plans for increase two percent value-added tax (VAT) rate, which will be started on a transitional basis...

OECD: Treatment of termination payments in tax treaties

July 3, 2013

A discussion document on the treatment of termination payments in tax treaties was issued by the OECD on 25 June...

OECD report on automatic information exchange

July 3, 2013

Following an emphasis on information exchange on request and the commencement of peer reviews by the OECD Global Forum on...

Documentation Considered in Malaysia’s First Transfer Pricing Case

July 3, 2013

The Special Commissioners of Income Tax in Malaysia delivered a landmark decision on February 2013 in the favour of the...

Indonesia: New Regulation on Transfer Pricing Audits

July 3, 2013

Regulation PER 22/PJ/2013 has been published by the Indonesia’s Directorate General of Taxation (DGT) on 30 May 2013 to provide guidelines...

India: CUP method for benchmarking service contracts

July 3, 2013

In a recent decision of Income Tax Appellate Tribunal (“ITAT”) it was held that for benchmarking service contracts when comparable...

Hungary: New Decree on Transfer Pricing Documentation Rules

July 3, 2013

The Hungary’s Ministry of Finance has issued Decree 20/2013 on 18 June 2013. The decree clarified the transfer pricing documentation...

France: report on tax evasion, transfer pricing

July 3, 2013

The French Minister of Economy and Finance published an official report on transfer pricing legislation on 5 June 2013. The...

ECJ rules on relevance of contractual terms in VAT supply

July 3, 2013

The European Court of Justice (ECJ) has reached a decision in the case of HMRC v Paul Newey t/a Ocean...

ECJ: Advocate General issues opinion on VAT and educational services

July 3, 2013

A question was referred to the ECJ by the Supreme Court of Poland in respect of VAT on educational services....

Czech Republic: New Decree on Low Value Adding Services

July 3, 2013

The General Financial Directorate (D-10) has issued the new Decree related to Low Value Adding Services took into effect on...

UK: consultation on allowing the transfer of savings in child trust funds to junior ISAs

June 18, 2013

The UK government has published a consultation document in respect of allowing the transfer of savings from a Child Trust...

UK: Double tax agreement with the Netherlands on bank taxes

June 18, 2013

The UK and the Netherlands signed a double tax convention on 12 June 2013 in respect of bank taxes. The...