Posts by admin

Georgia-Published draft order introducing new corporate income tax return form

December 27, 2016

The Ministry of Finance of Georgia published a draft order on 5 December 2016 which introduces a monthly corporate income...

Singapore- Voluntary filing of CbC Reports for Singaporean tax resident MNE groups for fiscal year 2016

December 26, 2016

The Inland Revenue Authority of Singapore (IRAS) announced on 19 December 2016 that the voluntary filings for Singaporean multinational enterprise...

Korea-Tax reform bill of 2017 enacted

December 26, 2016

Korea enacted the tax reform bill of 2017 on 20 December 2016 which was approved by the National Assembly on...

Ukraine-Adopted amendments to Tax Code

December 26, 2016

The parliament of Ukraine adopted a draft law amending the Tax Code on 21 December 2016. According to the adopted...

OECD: Updated report provides further guidance on BEPS action 4

December 24, 2016

On 22 December 2016 the OECD released more guidance on action 4 of the action plan on base erosion and...

DTA between Canada and Israel entered into force

December 23, 2016

The Income Tax Treaty (2016) between Canada and Israel has been entered into force on 21st December 2016 for avoiding...

Greece: Draft bill on electronic payments adopted

December 23, 2016

The draft bill regarding electric payments has been adopted by the parliament on 21st December 2016 and it was presented...

Brazil: Regulates special payment scheme for tax debts

December 22, 2016

Normative Instruction 1,677/2016, released in the Official Gazette on 12 December 2016, adjusts the special payment scheme for tax debts...

Protocol to DTA between Switzerland and Norway enter into force

December 22, 2016

The amending protocol, signed on 4 September 2015, to the Income and Capital Tax Treaty (1987) between Norway and Switzerland....

Brazil: Budget 2017 has been accepted by the president

December 22, 2016

The Budget for 2017 was accepted by the National Congress on 15 December 2016. According to the budget minimum monthly...

Taiwan: Finance Minister publishes draft rules on CFC and PEM

December 22, 2016

Finance Minister issued draft regulations on a controlled foreign company (CFC) and place of effective management commenced in July 2016...

TIEA between Switzerland and Brazil approved

December 22, 2016

The tax information exchange agreement (TIEA) between Switzerland and Brazil has been approved by the Swiss parliament on 16 December 2016....

Uruguay- New transfer pricing requirements for corporations with income derived from tax-exempt activities

December 21, 2016

The Tax Authority of Uruguay issued Ruling No. 5,947 on 6 December 2016 according to which a corporation conducts business...

Singapore-signed competent authority agreement on automatic exchange of information with Ireland

December 21, 2016

The government of Singapore signed the Competent Authority Agreement on Automatic Exchange of Information (2016) with Ireland on 20 December...

Korea-Exchange of information agreement with Andorra enters into force

December 21, 2016

The Exchange of Information Agreement (2014) between Andorra and Korea (Rep.) entered into force on 21 December 2016 and this...

Singapore-signed competent authority agreement on automatic exchange of information with Iceland

December 20, 2016

The government of Singapore signed the Competent Authority Agreement on Automatic Exchange of Information (2016) with Iceland on 13 December...

Peru-Issued Decree on temporary tax amnesty regime to regularize unreported assets

December 20, 2016

The Executive Branch of Peru issued Decree No. 1264 on 11 December 2016 providing for a temporary tax amnesty regime...

Montenegro: Draft Budget for 2017 adopted

December 20, 2016

The government of Montenegro has adopted the draft budget 2017 on 18th December 2016. The main changes are given as...