Posts by admin

Bulgaria: New Accounting Act gazetted

December 9, 2015

The new Accounting Act implementing the provisions of EU Directive 2013/34/EC was published on 8 December 2015 in the State Gazette...

Bulgaria: Bill to amend tax laws gazetted

December 9, 2015

A bill that amends the Corporate Income Tax (CIT), Value Added Tax (VAT), Personal Income Tax, local taxes and fees has...

UK: Consultation on draft regulations for Innovative Finance ISA

December 8, 2015

The UK government has published in draft form the Individual Savings Account (Amendment No 2) Regulations 2016 introducing a new...

Israel: Draft amendment regarding CIT rate approved

December 7, 2015

The Ministerial Committee on Legislation has approved the proposal of the Prime Minister and Finance Ministry on 6th December 2015...

OECD: Revenue Statistics Show Falling Corporate Tax Revenues

December 6, 2015

The OECD’s annual publication Revenue Statistics was published on 3 December 2015. The publication shows that since the financial crisis...

Hungary-Proposed bill on reduction to the current bank surtax

December 5, 2015

The government of Hungary presented to the parliament on 24 November 2015, a bill proposing amendment to the special bank...

DTA between Germany and Israel ratified

December 2, 2015

The Income and Capital Tax Treaty (2014) between Germany and Israel has been ratified by Germany on 20th November 2015,...

PGA Highlights: November 2015

December 2, 2015

In the United States the following events have taken place under the several PGA during the month of November 2015. Agencies...

Russia: Decision regarding related party’s liability published

December 2, 2015

The Supreme Court of Russia upheld the decisions of the lower courts regarding case No. A40-153792/2014 on 2nd November 2015....

New Zealand: Interest rate on low-interest loans

November 30, 2015

The Minister of Revenue declared that the approved interest rate will be decrease from 6.22% to 5.99% for calculating fringe...

UK: Call for evidence on cash and the hidden economy

November 28, 2015

The hidden economy has generally been understood as an economy that uses cash to avoid leaving a record of transactions....

UK: Consultation on Companies Excluded from the Employment Allowance

November 27, 2015

The Employment Allowance introduced in 2014 allows most businesses a deduction of GBP 2,000 a year (GBP 3,000 a year...

UK Urges Offshore Tax Evaders to Use Disclosure Facilities

November 27, 2015

The UK Financial Secretary to the Treasury is warning offshore tax evaders that the government will soon begin receiving information...

Russia: MoF clarifies determination of tax residence status in case of dual resident

November 27, 2015

The Finance Ministry (MoF) of Russia has issued a clarification on 30th October 2015 regarding the determination of the tax...

DTA between Kazakhstan and Serbia ratified

November 27, 2015

The Income and Capital Tax Treaty (2015) between Kazakhstan and Serbia was ratified by Serbia on 16th November 2015. The treaty was signed...

UK: Proposed Tax Measures in Autumn Statement

November 26, 2015

The Autumn Statement was delivered on 25 November 2015 and the following tax measures were announced: Apprenticeships levy With effect...

Bulgaria: Bill to amend tax laws for 2016 adopted

November 26, 2015

The parliament has adopted the bill on 25th November 2015 to amend tax laws for 2016. The draft bill was...

France adopts country-by-country reporting requirement

November 26, 2015

The lower house of the parliament in France adopted an amendment to the Finance Bill for 2016 on 12 November 2015. The...