Posts by Sabia Liza

Indian APA accepts customs valuation as arm’s length price for transfer pricing

March 23, 2018

Recently, the Central Board of Direct Taxes (CBDT) has entered into an advance pricing agreement (APA) where the price determined...

Jamaica: TAJ extends the deadline for filing income tax returns until 24 March 2018

March 19, 2018

On 15 March 2018, the Tax Administration of Jamaica (TAJ) announced that the deadline to file final income tax returns...

India : Finance Bill 2018 approves by Lower House

March 18, 2018

On 14 March 2018, the lower house (Lok Sabha) of parliament passed the Finance Bill 2018 with modifications. The modifications...

Russia approves bilateral exchange agreements for CbC reports

March 18, 2018

The Government of the Russian Federation has published Decree No. 184 of 21 February 2018, which amends Decree No. 805...

South Africa: Revenue services announces for temporary use of old filing rules

March 18, 2018

The South African Revenue Service will temporarily permit taxpayers to report information on controlled foreign corporations (CFCs) under the old...

India: The deadline for multinationals to submit a master file and CbC report is 31 March

March 15, 2018

The due date for multinationals in India to furnish a country-by-country (CbC) report and masterfile for the accounting year 2016-17...

India: CbC reporting changes made in Finance Bill 2018 as passed by the Lok Sabha

March 15, 2018

On 14 March 2018, the lower house of parliament (Lok Sabha) has approved the Finance Bill 2018 with modifications. One...

Lithuania: MPs proposes to reduce VAT on food and non-alcoholic beverages

March 12, 2018

A group of opposition Lithuanian lawmakers has drafted a proposal to reduce the value-added tax (VAT) on food and non-alcoholic...

Saudi Arabia: Tax Authority set deadline for filing an appeal against final assessment order

March 10, 2018

In a recent assessment order, the GAZT indicated that the deadline for filing an appeal will be determined from the...

Russia clarifies the deduction of losses incurred by consolidated group

March 10, 2018

On 9 March 2018, the Ministry of Finance (MoF) clarified the deduction of losses incurred by consolidated group members. Accordingly,...

Dominican Republic: DGII publishes guidance on the tax on the transfer of industrialized goods and services

March 9, 2018

The Directorate General of Internal Revenue (DGII) published guidance on the tax on the transfer of industrialized goods and services...

India: CBDT signs seven more unilateral APAs

March 8, 2018

On 1 March 2018, the Ministry of Finance issued a press release announcing that Central Board of Direct Taxes (CBDT)...

Russia: MOF clarifies the application of the 0% rate to dividends

March 7, 2018

In March 2018, the Ministry of Finance (MoF) clarified the application of the 0% (CIT) rate to dividends received by...

Singapore: The excise duties imposed on all tobacco products increased by 10%

March 7, 2018

On 19 February 2018, the Budget for 2018 was presented to Parliament by the Finance Minister. The Finance Minister, Heng...

World Tax Brief: February 2018

March 5, 2018

India Main corporate tax rate: The Finance Minister of India presented the Union Budget 2018-19 on 1 February 2018. Accordingly,...

India: Sugar import duty doubled to 100%

March 1, 2018

On February 6, 2018, the central government doubled the import duty on raw and refined sugar to 100% and raised...

Denmark: Government proposes amendments to corporate taxation rules

February 28, 2018

On 23 February 2018, the Danish Ministry of Taxation published the bill on corporate taxation. The bill amending the Danish...

India: The Tribunal considers the AMP costs to be the customs value of the transaction

February 28, 2018

The Delhi Customs Excise & Service Tax Appellate Tribunal (CESTAT) in a recent case, upheld the AMP (Advertisement, Marketing and...