Posts by admin

Canada: Extra GST/HST return for large businesses

June 11, 2013

Certain large businesses, in addition to filing their regular GST/HST returns will have to face an extra GST/HST (goods and services...

Australia: Practice statement on Transfer Pricing

June 11, 2013

The Australian Customs and Border Protection Service (Customs) has published Practice Statement B_IND08 “Valuation-Transfer Pricing Policy” and this new practice statement will...

Argentina: New process for determining “tax haven” jurisdictions

June 11, 2013

Argentina’s tax authority (AFIP) has issued a decree introducing new criteria for when to consider countries as “tax haven” jurisdictions...

Vietnam: Corporate tax reduced to 22% from 2014

June 4, 2013

The Ministry of Finance planning to cut corporate income tax rate 22% from the current 25%  with effect from 1 January...

UN Manual: E-version of Transfer Pricing Manual officially launched by United Nations

June 4, 2013

Recently on 29th May 2013 a special meeting of the UN’s Economic and Social Council (ECOSOC) on the subject of...

UK: Terms of Reference issued for GAAR advisory panel

June 4, 2013

The legislation in respect of the General Anti Abuse Rule (GAAR) in the Finance Bill 2013 provides for the appointment...

UK: Strengthening the code of practice on taxation for banks

June 4, 2013

The HMRC released a consultation document on 31 May 2013 in respect of amendments to the code of practice on...

UK: HMRC guidance the Seed Enterprise Investment Scheme

June 4, 2013

The HMRC published a series of answers on 28 May 2013 to frequently asked questions about the Seed Enterprise Investment...

UK: Consultation on the VAT treatment of refunds by manufacturers

June 4, 2013

The UK issued a consultation paper on 31 May 2013 in respect of the value added tax (VAT) treatment of...

Netherlands and China tax treaty is signed

June 4, 2013

A new China and Netherlands Income Tax Treaty was signed on 31 May 2013 in Beijing. Once in force, the...

South Africa: tax penalty regime reformed

June 4, 2013

The National Treasury published the 2013 draft Taxation Laws Amendment Bill (TLAB) and the Tax Administration Laws Amendment Bill on...

OECD: Draft Handbook on Transfer Pricing Risk Assessment

June 4, 2013

The Steering Committee of the OECD Global Forum on Transfer Pricing undertook a project on transfer pricing risk assessment in...

Indonesia: A new value added tax (VAT) invoice process has been introduced

June 4, 2013

In order to help the tax authorities to enhance control over the legitimacy of VAT invoices a new value added...

Hungary: Draft bill on the proposed changes to transfer pricing reporting obligations

June 4, 2013

The Ministry of National Economy of Hungary had announced a draft bill in March 2013. The draft bill proposed significant...

Czech Republic: Proposals on dividends, stock gains and increased R&D

June 4, 2013

The Czech Republic government has submitted its long-discussed proposals on April, 2013 to “re-codify” the tax laws to the Chamber...

Australia: Budget 2013

June 4, 2013

The Australian government released its budget for 2013 on May 2013. It includes plans for a number of revenue /...

Luxembourg’s Corporate Tax Plans made public

June 2, 2013

The Luxembourg Government has uncovered some details of its future corporate tax plans. Increasing the rate of business tax has...

Italy: suspension of the first payment of the municipal real estate tax

June 2, 2013

Law Decree No. 54/2013, regulating the suspension of the first payment of the municipal real estate tax, was published in...