Posts by Sabia Liza

India: Cabinet approves signing of MLI to implement tax treaty related BEPS measures

May 21, 2017

The Union cabinet on 17 May 2017, approved the signing by India of the Multilateral Instrument (MLI) to implement into bilateral...

India: Latest update on country-by-country reporting

May 21, 2017

India has recently included a country-by-country (CbC) reporting requirement in section 286 of the Indian Income-tax Act, 1961, with effect...

India: Section 14A is subject to dividend income tax regardless of dividend distribution tax (DDT) Payment

May 17, 2017

Section 14A of the Income Tax Act, 1961 (Act) provides for disallowance of expenditure incurred in relation to income which...

Negotiations for DTA between Japan and Iceland

May 17, 2017

The Government of Japan and the Government of the Republic of Iceland will initiate negotiations for a tax convention between...

Japan and Estonia have agreed on a DTA

May 17, 2017

On May 15, 2017, the Japanese Ministry of Finance announced that the Government of Japan and the Government of the...

Japan and Denmark have agreed on a new DTA

May 17, 2017

On May 15, 2017, the Japanese Ministry of Finance announced that the two countries (Japan and Denmark) have agreed in...

Pakistan: Companies Act 2017 passed by Senate

May 16, 2017

On 15 May 2017, the Senate approved the draft Companies Bill, 2017, replacing the Companies Ordinance 1984. The Bill aims...

Pakistan: FBR publishes a guideline on the mechanism of ADR

May 11, 2017

Recently, the Federal Board of Revenue (FBR) has issued a guideline on the mechanism of ADR. The FBR has motivated...

Russia: Publishes the draft law on CbC reporting requirements for multinationals corporate groups

May 10, 2017

The Russian government on 6 March 2017, published an amended draft law providing for new provisions on the international automatic...

Russia: Value added tax increased to 22% from January 2019

May 9, 2017

The Russian government has confirmed that it intends to increase VAT from 18% to 22% on 1 January 2019. The...

Dominican Republic: New facility for taxpayers to make payments to online accounts

May 7, 2017

On 24 April 2017, the Directorate-General for Internal Taxation (DGII) introduced the online “Payments to account”, which explains to companies...

World Tax Brief: April 2017

May 4, 2017

UK Corporate income tax rate: The corporate income tax rate in the UK has been reduced to 19% from the...

Japan and Russia have agreed on a new DTA

May 1, 2017

On 28 April 2017, Japan’s Ministry of Finance has announced that the two countries have agreed in principle to a...

Ghana: Amendments to the VAT Act

April 30, 2017

The Commissioner-General of the Ghana Revenue Authority (GRA) on 24 April 2017 published a notice on the Value Added Tax...

India: Government increases SIPP scheme for three years

April 26, 2017

The Indian government has extended the Start-Ups Intellectual Property Protection (SIPP) scheme for three years till March 2020, to support...

India: Prime Minister suggests January-December fiscal year

April 25, 2017

On 23 April 2017, at the Niti Aayog’s governing council meeting, Prime Minister proposed changing to a January-December fiscal year,...

Negotiations to update DTA between Japan and Spain

April 25, 2017

Japan’s Ministry of Finance announced on 24 April 2017, that the governments of Japan and Spain will begin negotiations to amend...

Pakistan and Hungary sign an agreement to promote economic cooperation

April 25, 2017

On 11 April 207, Pakistan and Hungary signed an agreement in Islamabad to enhance economic cooperation and trade ties in...