Posts by admin

Slovenia: Raises VAT Registration Threshold

April 29, 2013

Generally EU member states follow the compulsory VAT registration thresholds set in the EU VAT Directives. The EU permitted Slovenia...

Luxembourg: Standard VAT rate will increase from 2015

April 29, 2013

The Luxembourg Prime Minister announced on 10 April 2013 that, the standard VAT rate will increase as from 2015, but...

Egypt: Customs Tariffs on Luxury Goods

April 29, 2013

Egypt has issued a presidential decree raising customs tariffs on imports of luxury goods. Under the decree a 40% tariff...

China: Permitted Industry Catalogue published for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone

April 29, 2013

For the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the Permitted Industry Catalogue was issued in March 2013. This...

India: Central government has issued Notification on transfer pricing tolerance band

April 29, 2013

If the transfer price charged by a taxpayer is within a certain percentage of the arm’s length price determined under...

UK: report on the role of large accountancy firms in tax avoidance

April 29, 2013

The UK’s Parliamentary Accounts Committee (PAC) has issued a report entitled “Tax avoidance: the role of large accountancy firms” criticizing...

United Arab Emirates: Abu Dhabi issues a decree establishing a financial free zone

April 29, 2013

The free zone is expected to be set up along the same lines as the financial free zone in Dubai...

Sweden: tax proposals in 2013 spring budget

April 29, 2013

The government of Sweden submitted to Parliament a budget bill on 15 April 2013 that proposes domestic tax changes. The...

Singapore: tax filing rate for 2013 has hit a record of 95%

April 29, 2013

The Inland Revenue Authority of Singapore (IRAS) has reported that by April 18, the individual tax filing rate in Singapore...

Belgium: New tax measures for 2013

April 23, 2013

Belgium’s Council of Ministers recently reached agreement on new tax measures for 2013. The Belgian government has already confirmed plans...

Norway: Interest deduction limitation proposed

April 23, 2013

On 11 April 2013 the Norwegian Ministry of Finance published a legislative proposal and invited public submissions on the introduction...

OECD: report prepared for G20 on fighting tax evasion

April 23, 2013

The OECD has prepared a report for the G20 Finance Ministers and Central Bank Governors on international measures being taken...

Treaty between Luxembourg and Isle of Man signed

April 23, 2013

Luxembourg has signed a comprehensive Double Taxation Agreement (DTA) with the Isle of Man, as part of an on-going programme...

UK: the European Commission opens an investigation into the tax relief for video games

April 23, 2013

The UK is introducing tax relief for the animation, high end TV and video games industry from 1 April 2013....

Hungary: Proposed Changes to Transfer Pricing Rules

April 23, 2013

The Ministry of National Economy (’the Ministry’) of Hungary has proposed changes to Hungarian transfer pricing documentation requirements. They have...

US: Public comments requested on branch profits tax for foreign corporations

April 23, 2013

The US Treasury Department and the Internal Revenue Service (IRS) are requesting comments concerning regulations TD 8223 (Branch Tax), TD...

UK challenges financial transactions tax

April 23, 2013

The UK has launched a legal challenge in the European Court of Justice to the planned financial transactions tax. This...

EU: Updated study on the consequences of accession of Croatia to the EU for customs legislation

April 23, 2013

The European Commission on 2 April 2013 published an updated study dealing with the consequences of the accession of Croatia...