Switzerland: Ordinance on exchange of CbC reports adopted
On 29 September 2017, Swiss Federal Council adopted an ordinance on the international automatic exchange of country-by-country reports on multinational firms. The exchange of country-by-country reports between Switzerland and its partner states
See MoreOECD: Forum on Tax Administration meets to discuss tax priorities
The Forum on Tax Administration (FTA) discussed tax issues at its plenary meeting on 27 to 29 September 2017. The FTA includes the Tax Commissioners of fifty tax administrations covering industrialized and emerging economies including the OECD and
See MoreOECD: Peer review reports on dispute resolution mechanisms
On 26 September 2017 the OECD released six peer review reports evaluating efforts to improve dispute resolution mechanisms. The reports relate to implementation of measures by Belgium, Canada, Netherlands, Switzerland, the UK and the US. A document
See MoreSlovak Republic: Proposed provisions for patent box regime, exit tax, CFC rules
The Government announced several changes in the corporate taxation area on June 20, 2017, including the introduction of a new patent box regime in line with the modified nexus approach developed as part of BEPS Action 5. The government also proposes
See MoreDTA between Switzerland and Zambia signs
The Double Taxation Agreement (DTA) between Switzerland and Zambia was signed in Lusaka on 29 August 2017. Once in force and effective, the new treaty will replace the existing DTA of 1954. The agreement contains Dividends rate 5% for at least 10%
See MoreTurkey: Government introduces new tax plan
The Finance Minister, Naci Ağbal, announced significant tax increases on September 27, 2017 during the Medium Term Program meeting (2018-2020). A new legislative proposal increasing corporate income tax from 20% to 22% for financial sector and
See MoreUruguay: Regulations on common reporting standard (CRS) issued
On 25 September 2017, the Tax Authority issued Resolution No. 6.396/017 providing instructions to financial institutions for reporting information under the Common Reporting Standard (CRS) guided by OECD. Under the CRS, Financial institutions are
See MoreArgentina: General Resolution 4130-E publishes in Official Gazette
The Federal Tax Administration (FTA), on September 20, 2017, published the General Resolution 4130-E in the Official Gazette. It establishes the country-by-country (CbC) guiding framework in Argentina and is applicable to ultimate parent entities of
See MoreOECD: Request for input on tax challenges of digital economy
On 22 September 2017 the OECD issued a request for input on work relating to the tax challenges of the digital economy. The OECD is requesting public comments on important issues relating to tax challenges raised by digitalization and potential
See MoreNetherlands: Tax plan for 2018
The Dutch government has presented the tax plan for 2018 on 19th September 2017. If adopted, these proposals will be entered into force on 1st January 2018. 2018 tax plan contains various other amendments on a variety of topic and these are given
See MoreMozambique: Transfer pricing regulations approved
The Council of Ministers approved transfer pricing regulations on September 12, 2017 that present the methods for the assessment of the transfer pricing transactions between related entities. It allows amendments to the taxable profit by the tax
See MorePuerto Rico: Guidance on due dates extension for specific tax return and payment obligations
Treasury Department (PRTD) has published a guide Information Bulletin 17-17 on Circular Letter (CL) 17-13, which has deferred the due dates for particular tax returns and payment accountabilities due to the exceptional circumstances stated by the
See MoreCzech Republic: Bill regarding CbC reports published
An amendment to the Law on International Cooperation in the Administration of Taxes or a Bill was published on September 20, 2017 in the Official Gazette. It introduces country-by country (CbC) reports and generally applies from September 20, 2017.
See MoreVenezuela: New reduced VAT rate for electronic purchases
The National Integrated Service of Customs and Tax Administration (SENIAT) declared that as of September 27, 2017, the standard value added tax (VAT) rate in case of electronic purchases will be reduced by 3% or 5%. In the General Assembly of
See MoreDTA between Kosovo and Switzerland ratifies
The Kosovo has ratified the Double Taxation Agreement (DTA) with Switzerland for the avoidance of double taxation on 10th August 2017 and the prevention of fiscal evasion with respect to taxes on
See MoreMexico presented budget proposal and tax reform for 2018
The Minister of Finance submitted the budget for 2018 to the Congress for its approval on 8th September 2017. The Proposed Budget includes the Federal Revenue Law (Revenue Law), General Economic Policy Guidelines and the Federal Spending Budget
See MoreThailand: New tax, legal requirements for representative offices of foreign companies
According to new Thai rule, a foreign company’s representative office in Thailand is no longer obliged to obtain a foreign business license from the Department of Business Development. Though, the representative office is still subject to other
See MoreItaly: New anti-avoidance measures under the “allowance for corporate equity”
In Italy, a new decree which was published in the official gazette on 11 August 2017 modifies the existing anti-avoidance rules under the “allowance for corporate equity” regime in such a way that duplications of the tax benefit within a group
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