Posts by Sabia Liza

Costa Rica : MoF increases the interest rate for late payments and refunds

September 5, 2017

The Ministry of Finance (MoF) has increased the interest rate for late advance tax payments and refunds of overpayments from...

World Tax Brief: August 2017

September 4, 2017

Indonesia CFC rules: The Ministry of Finance (MoF) has updated the Controlled Foreign Company (CFC) rules through the issuance of...

Mexico announces incentives for special economic zones

September 3, 2017

On 10 February 2017, the Ministry of Finance announced the creation of special economic zones (ZEEs). Legal entities and individuals...

India: Government extends deadline for Income Tax returns and audit reports

September 1, 2017

The government on 31 August 2017, extended the deadline for all Income Tax returns and audit reports till 31 October...

India: Research & Development expenditure qualified for deduction prior to approval

August 31, 2017

The Delhi High Court in the case of Maruti Suzuki India Ltd v. Union of India & Anr (W.P. (C)...

Pakistan: Cabinet ratifies DTA with Hong Kong

August 27, 2017

On 15 August 2017, the federal cabinet ratified an agreement between Pakistan and Hong Kong (special administrative region of the...

Vietnam: Ministry of Finance proposes to cut taxes for small and medium-sized firms 

August 27, 2017

Recently, the Ministry of Finance (MoF) has proposed a number of changes to the country’s tax regime, including a reduced...

DTA between Japan and Estonia approved by Estonia

August 26, 2017

The Estonian government approved the agreement between Estonia and Japan on 24 August 2017, to avoid double taxation and handed...

Slovenia publishes detailed guidelines on CbC reporting

August 21, 2017

The Ministry of Finance (MoF) on 26 July 2017, issued detailed guidelines for Country-by-Country (CbC) reporting. The guidelines also include...

Pakistan implements documentation and CbC reporting requirements

August 15, 2017

In Pakistan until 2016, no transfer pricing documentation was required under the Income Tax Ordinance (ITO). However, with effect from...

India: Government imposes 10% customs duty on imported mobile phones

August 15, 2017

The government of India on 1 July 2017, has imposed 10% basic customs duty on mobile phones and parts like...

India: Multilateral Competent Authority Agreement on Exchange of CbC reports enters into force

August 14, 2017

The Ministry of Finance on 28 July 2017 has issued a Notification (No. 75/2017), which announces that the Multilateral Competent...

DTA between Japan and Slovenia will enter into Force

August 12, 2017

The Japanese Ministry of Finance on 26 July 2017 issued a press release announcing that the double taxation agreement (DTA)...

Russia: New GAAR provisions in the Tax Code

August 10, 2017

The Russian parliament on 5 July 2017 approved a draft law (no. 529775-6) introducing a new general anti-avoidance rule (GAAR) into...

India: Tribunal decision on foreign exchange fluctuation gain or loss and arm’s length pricing

August 10, 2017

The Income-tax Appellate Tribunal in the case of ACIT v. Rajratna Metal Industries Ltd. [ITA No. 1050/Ahd/2015 with CO No....

Russia submits draft law on automatic international exchange of tax information including documentation requirements

August 8, 2017

The Russian Government on 20 July 2017, submitted the draft bill (Bill No. 231414-7) on the automatic international exchange of...

World Tax Brief: July 2017

August 3, 2017

Belgium Corporate income tax rate: The federal government of Belgium announced the budget for 2018. The budget has reduced the...

Germany publishes revised guidance on CbC reporting requirements

August 1, 2017

The Germany Federal Ministry of Finance (MoF) on 11 July 2017 issued guidance on the Country-by-Country (CbC) reporting requirements in...