OECD: Platform for Collaboration on Tax releases draft toolkit on comparables
On 24 January 2017 the Platform for Collaboration on Tax released a draft toolkit on comparables. The toolkit is designed to assist developing countries to manage situations where there is a lack of comparable transactions for use in transfer
See MoreKorea (Rep.) -Competent authority agreement on automatic exchange of information with Hong Kong signed
Korea (Rep.) has signed the Competent Authority Agreement on Automatic Exchange of Information with Hong Kong on 23 January 2017. The agreement stipulated details about the types of information that will be exchanged and the timing of the exchange
See MoreSaudi Arabia- Initiating Income and Capital tax treaty with Latvia
Following the conclusion of the negotiation process in Riga from 16 to 19 January 2017, the government of Saudi Arabia and Latvia will initiate an income and capital tax
See MoreTIEA between Argentina and UAE enters into force
The Exchange of Information Agreement regarding tax matters (TIEA) of 2016 between Argentina and United Arab Emirates has been entered into force on 17th January 2017 and it also effects from 17th January
See MorePoland: Corporate tax law changes enters into force
New amendments regarding the corporate income tax and individual income tax acts of Poland have been entered into force on 1st January 2017. In accordance with the new amendments, a 15% reduced corporate income tax rate (previously it was 19%
See MoreNorway publishes new rules on sharing economy
The tax administration published a report on the participation of the economy and suggested new rules for dealing with it on 19 January 2016. According to the proposed rules, there must be clearer rules on tax-exempt income and business; simplify
See MoreTIEA between Switzerland and Iceland enters into force
The tax exchange of information agreement (TIEA) between Iceland and Switzerland has been entered into force on 1 January 2017 through an exchange of notes (EoN). It applies from the same date of its entry into force. The agreement was signed on 26
See MoreTIEA between Switzerland and Norway enters into force
The tax exchange of information agreement (TIEA) between Norway and Switzerland has been entered into force on 1 January 2017 through an exchange of notes (EoN). It applies from the same date of its entry into force. The agreement was signed on 26
See MoreCzech Republic: Bill on automatic exchange of rulings and pricing arrangements approved
A Bill regarding the automatic exchange of advance cross-border rulings and advance pricing arrangements has been approved by the lower chamber of the parliament of Czech Republic on 11th January 2017. It implements the provisions of Council
See MoreTIEA between Finland and UAE ratified
The Exchange of Information Agreement of 2016 regarding tax matters (TIEA) between Finland and United Arab Emirates (UAE) has been ratified on 15th January 2017 by United Arab Emirates. The treaty has been ratified by the way of Decree No.
See MoreGreece: Deadline extension of voluntary disclosure of undeclared income
An amendment to Law 4446/2016 was adopted on 20th January 2017 by the parliament. The amendment made an extension to the deadline for the tax return filing within the framework of the voluntary disclosure of undeclared income. The new deadline is
See MoreTIEA through EoN between Jersey and Switzerland enters into force
The Exchange of Information Agreement regarding tax matters (TIEA) between Jersey and Switzerland has been entered into force on 1st January 2017 by an Exchange of Notes (EoN). It was signed on 26th October 2016 by Switzerland and on 1st November
See MoreTIEA between Switzerland and Guernsey enters into force
The tax exchange of information agreement (TIEA) between Guernsey and Switzerland has been entered into force on 1 January 2017 through an exchange of notes (EoN). It applies from the same date of its entry into force. The agreement was signed on 26
See MoreDTA between Italy and Chile entered into force
The Income and Capital Tax Treaty between Italy and Chile of 2015 entered into force on 20 December 2016. The provisions of the treaty are applicable from 1 January
See MoreItaly-Individual Income Tax return form published
The Italian tax authority published the individual income tax return for the 2016 financial year on 16 January 2017. The form can be found along with the instructions on the ITA
See MoreBrazil: Tax authority defines withholding tax payments for technical services source in US
Brazilian tax authorities define the withholding tax for technical services made available by individuals in United States through Private Ruling 5/2017 (Solução de Consulta 5/2017), published in the Official Gazette on 18 January 2016. The
See MoreBrazil issues tax regulation program
Provisional Measure 766 has issued and released on 4 January 2017. This provisional measure establishes a tax regulation program for Brazilian taxpayers to settle their tax liabilities. Under this program, taxpayers can resolve their federal tax
See MoreArgentina: Deadline of short-term abolition of excise tax on sparkling wines changed
The Executive Branch's Decree 19/2017 has been published in the official gazette on 5th January 2017. As provided by article 33 of Law 24,674, the short-term abolition of the excise tax on sparkling wines has been prolonged from 1st January 2017 to
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