Montenegro: Tax debt payment plan announced
The Law on Tax Debt Payment Plan has entered into force and been published in Official Gazette on 31st December 2016. On the basis of the Law, a tax debt may be paid back in 60 monthly installments, if at least 10% of the total debt is repaid in
See MoreCzech Republic: DTA with Korea Republic authorizes
The government of the Czech Republic on 16 January 2017, authorized the negotiation of a new Income Tax Treaty with the Republic of Korea. When signed, in force and effective, the new treaty will replace the existing Income Tax Treaty (signed in
See MoreBolivia publishes budget for 2017
The General Budget for 2017 was published in the Official Gazette on 28 November 2016. The Budget exempts from corporate income tax interest paid to creditors of public debt issued by security titles at foreign capital markets; and installments made
See MoreJersey: DTA with the Seychelles enters into force
The Income Tax Treaty of 2015 between Jersey and Seychelles entered into force on 5th January 2017. The provisions of the treaty will be applicable from 1st January
See MoreCosta Rica: Supreme Court issues base salary for 2017
The Supreme Court of Justice released Circular No.230-2016 on 10 January 2017 regarding base salary for 2017. According to the Circular, with effect from 1 January 2017 the base salary is CRC 426,200. The base salary is applicable to compute certain
See MoreCosta Rica: Legislative Assembly approves corporate flat tax
The National Legislative Assembly on 9 January 2017, approved the Bill no 19818 to retain the registration flat tax on companies. According to Bill, companies, as well as any branch of a company which are registered in the Register of Legal
See MoreTIEA between Costa Rica and Italy ratified
The Tax Exchange Information Agreement (TIEA) between Costa Rica and Italy has been ratified on 14th January 2017 by the Italian Council of Ministers through a draft law. It was signed on 27th May
See MoreIran: DTA between Iran and Slovak Republic ratified
The Income Tax Treaty of 2016 between Slovak Republic and Iran has been ratified on 3rd January 2017 by the president of Iran for avoiding double
See MoreNetherlands: Tax Plan for 2017 publishes in the official gazette
The Upper House of Parliament approved tax plan for 2017, on 20 December 2016. This tax plan has published in the official gazette (No. 544.) on 29 December
See MoreBulgaria: VAT registration changes for non-legal entities
Following the adoption of various VAT amendments, the Revenue Agency has published a notification on 11th January 2017 regarding the obligation for non-legal entities to register for VAT if at least one partner is registered under Bulgarian law.
See MoreChile: Announcement on entry into force of new tax regime
The Tax Administration of Chile announced on 5th January 2017 that a new tax regime enters into force from 1st January 2017 as introduced by the 2014 Tax Reform. Companies under the attributed income regime have to pay first category tax at a
See MoreTajikistan: MoF of Tajikistan initials a DTA with Qatar
An Income and Capital tax treaty between Qatar and Tajikistan has been initialed by the Tajik Ministry of
See MoreIceland: Threshold increases for VAT registration
The Directorate of Internal Revenue issued a declaration on 9 January 2017 regarding VAT registration and invoice issuance. If the supply of goods and services is below ISK 2 million within a tax year duration, the business does not need to register
See MoreIceland: The Directorate of Internal Revenue publishes tax rates and allowances for 2017
The Directorate of Internal Revenue has published some information on 29th of December 2016 regarding the applicable rates and amounts for corporate and individual taxation. A 20% corporate tax rate is pertinent for public and private limited
See MoreBrazil issues common reporting standard
Normative Instruction 1,680/2016 has been issued in the official gazette on 29 December 2016 regarding the implementation of the identification of financial accounts. Under the normative instruction, companies are required to submit the e-financeira
See MoreAzerbaijan-Budget Bill for 2017 adopted
The Parliament of Azerbaijan adopted the draft Budget Bill for 2017 on 16 December 2016. The Bill was submitted to the parliament on 15 November
See MoreUruguay: Fiscal benefits extended for implementation of electronic invoicing system
The Decree of 19 December 2016 adopted by the Ministry of Economic Affairs and Finance extended the benefits provided for by Regulation No 324/011 concerning the development and implementation of the system of electronic tax documents until 31
See MoreBrazil: Regulation on CbC reporting
Normative Instruction 1,681/2016 was issued in the Official Gazette on 29 December 2016 regarding annual country-by-country (CbC) reporting. According to Normative Instruction 1,681/2016: Legal entities resident in Brazil are obliged to
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