Guatemala: Extension of short-term fine, interest and penalty relief for outstanding tax obligations
The tax authority of Guatemala has extended its fine, interest, and penalty relief program for outstanding tax obligations by one month that is to 19 September 2017. Taxpayers who will fulfill their outstanding tax obligations during the one-month
See MoreTaiwan: MOF announces tax reform proposals
Taiwan’s Ministry of Finance (MOF) announced tax reform proposals on 1st September 2017 that would rebuild the income tax system. The proposals include the following: Corporate income tax rate increases from 17% to 20%; Standard dividend
See MoreArgentina: DTA to be signed with Singapore
The two Ministers representing Argentina and Singapore, Chancellor George Faurie and Vivian Balakrishnan, signed a Memorandum of Understanding on Technical and Triangular Cooperation and made progress in the bilateral talks on economic and trade
See MoreDTA between Iraq and South Korea signed
On 23 August 2017, the Council of Ministers of Iraq has authorized to sign a revised Double Taxation Agreement (DTA) with South
See MoreDTA between Jordan and Saudi Arabia enters into force
On 1 September 2017, the Double Taxation Agreement (DTA) between Jordan and Saudi Arabia was entered into force and it will apply from 1 January 2018. The agreement contains Dividends rate 5%, Interest rate 5% and Royalties rate
See MoreVietnam: Finance Ministry proposes new tax plans
On 8 August 2017, the Ministry of Finance of Vietnam has announced the proposal to launch the tax reform program through two drafts on amending and supplementing the Laws on Corporate Income Tax, Personal Income Tax, Special Sales Tax, VAT and
See MoreSwitzerland: Federal Council initiates consultation on tax proposal 17
The Federal Council initiated the consultation on tax proposal 17 (TP17) on 6th September 2017. The proposal will make a significant contribution to having an appealing location and thus to added value, jobs and tax receipts. The reform will
See MoreMorocco: New procedures for APAs
Morocco published a Decree No. 2.16.571 of 3 July 2017 in the Official Gazette No. 6594 on August 10, 2017 that describes the procedure for concluding advance pricing agreements (APAs). This decree was published in Arabic language. For example, a
See MoreUK: Main 2017 tax changes affecting corporation tax
The budget insert for the CT600 company tax return, initially issued in March 2017, has been updated to include further information on changes affecting the return. The changes cover announcements made in the 2016 Autumn Statement and measures in
See MoreOECD: Appropriate use of information in CbC reports
On 6 September 2017 the OECD released guidance in relation to the appropriate use of information in Country by Country (CbC) reports exchanged under action 13 of the project on base erosion and profit shifting (BEPS). This includes guidance on the
See MoreOECD: Further guidance on CbC reports
Further guidance has been issued by the OECD's Inclusive Framework on BEPS in relation to the implementation and operation of Country-by-Country (CbC) reporting under Action 13 of the project on base erosion and profit shifting (BEPS). This latest
See MoreUAE: The FTA launches an interactive website
The Federal Tax Authority (FTA) announced an interactive website on the basis of best international standards and practices for introducing legal entities and society to the tax system and facilitate tax compliance. The site is rich in important
See MoreKenya ratifies DTA with Netherlands
On 18 August 2017, according to published Legal Notice 169 of 2017 in the Official Gazette of Kenya, which ratifies the pending Double Taxation Agreement (DTA) with the Netherlands for the avoidance of double taxation and the prevention of fiscal
See MoreCzech Republic: DTA with Turkmenistan ratifies
On 8 August 2017, the Czech Republic has ratified the Double Taxation Agreement (DTA) with Turkmenistan for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreChile: Tax authority simplifies electronic registry system
Starting from August 2017, under the VAT regime, companies must join in a registry system that will automatically and easily provide electronic documentation to the tax authority (SII). This system simplifies the tax return for all taxpayers,
See MoreUnited States: ADD/CVD Roundup for August 2017
Following table shows the Federal Register notices related to ADD/CVD cases for August 2017 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Preliminary Affirmative Countervailing Duty Determination and
See MorePGA Highlights: August 2017
In the United States the following events have taken place under the several PGA during the month of August 2017. Agencies Summary Federal Register Extension of test program on Electronic Foreign Trade Zone: This document declares U.S. Customs
See MoreUK: Tax paid by the banking sector
On 24 August 2017 HMRC issued statistics relating to the UK taxes paid by the banking sector. The sector is defined for this purpose as businesses potentially eligible to pay the bank surcharge. These statistics are of interest to government and
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