Vietnam: VECITA requests procedure to review goods on e-commerce websites and applications
The Vietnam E-Commerce and Information Technology Agency ("VECITA") published a notice on 20 April 2017 on its web page aiming to promote the authentication of information on counterfeit, prohibited or restricted infringing goods on e-commerce
See MoreDominican Republic: DGII extends fiscal support to the agricultural sector
The Directorate General of Internal Taxes (DGII) on 6 April 2017, declared the extension of fiscal support for the agricultural sector that frees them from the payment of advances on Income Tax, the payment of the Tax on Assets and the Withholding
See MoreGermany: Issues new procedure for non-residents regarding reimbursement of the withholding tax
Recently, the tax administration published an updated guidance on the tax refund procedure for non-residents to claim a 15% refund of withholding tax on portfolio dividends. According to the new procedure, as from 1 January 2017, the income from
See MoreRussia: Facebook and other global digital giants agree to pay ‘Google Tax’
On June 29, 2016, the government has approved the VAT Law for foreign companies selling online services to Russian consumers. Therefore, over a hundred foreign corporations have already registered in Russia. Among these companies are: Alibaba,
See MoreIndia: CBDT signs four more unilateral APAs
On 6th February 2017, the Central Board of Direct Taxes (CBDT) has signed four more unilateral advance pricing agreements (APAs) with Indian taxpayers in order to reduce litigation by providing certainty in transfer pricing. The international
See MoreRussia: Negotiations to update DTA with Japan
Russian and Japanese government agents met in Tokyo to begin negotiations on updating their double tax agreement on 27 March 2017. The announcement which notified the beginning of talks with the Japanese Ministry of Finance did not set out what
See MorePakistan: Proposes 5% rebate for timely filing of annual income tax returns
Recently, the Federal Board of Revenue (FBR) has been advised to give the rebate of 5% as an incentive to taxpayers in timely filing of annual income tax returns. As this incentive will significantly improve the number of tax filers and will provide
See MoreIndia: The tribunal removed the transfer pricing adjustment for intra-group services
The Ahmedabad Bench of Income-tax Appellate Tribunal, in the case of: SABIC Innovative Plastics India Pvt Ltd. (ITA No. 1125/Ahd/2014 - Assessment Year 2009-10 and IT (TP) No. 427/Ahd/16 - Assessment Year 2011-12), deleted the adjustment made by the
See MoreGhana: Filing of VAT & CST returns for April 2017
The Ghana Revenue Authority with a press release reminds all VAT registered persons that vat and Communication service tax returns (CST) for April 2017 should be submitted on the VAT and CST returns forms not later than 31 May 2017 (latest
See MoreIndia: President signs four GST Bills into law
President Pranab Mukherjee on 13 April 2017 signed four enabling Bills related to the goods and services tax (GST) into law, taking the country a step closer to its biggest indirect tax reform. The President has given his assent to the Central GST
See MorePakistan: Instigated the alternative dispute resolution committee
On 29 March 2017, the Federal Board of Revenue (FBR) has started the Alternative Dispute Resolution (ADRC) service. The FBR has decided to provide the service in view of the fact that 27,000 complaints are pending before Appellate Tribunal Inland
See MorePakistan: FBR issues a law regarding payment of tax collected or deducted
Pakistan’s Federal Board of Revenue Published a Notification No. S.R.O. 255(I)/2017 of 12 April 2017, which introduced a new provision in Rule 43(b) of the Income Tax Rules 2002 regarding payment of tax collected or
See MoreIndia: CBDT issues PAN and TAN within one day
On 11 April 2017, the Central Board of Direct Taxes (CBDT) has tied up with Ministry of Corporate Affairs (MCA) to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in one day to expand the facility of Doing Business for
See MoreIndia: Waiver of interest by financial institutions is treated as income
In a recent judgement in the case of: McDowell & Company Ltd. v. CIT (Civil Appeal No. 3893 of 2006), the Supreme Court of India held that the waiver of interest by financial institutions is assessable from the hands of the Amalgamating Company
See MoreIndia: CBDT publishes a notification on the patent box regime
The Central Board of Direct Taxes (CBDT) released a notification on the patent box regime under section 115BBF of the Income-tax Act, 1961. The new rules deliver additional incentive for companies to retain and develop innovative patented products,
See MoreGermany: Draft amendments to transfer pricing documentation ordinance
The Ministry of Finance on 23 February 2017 published draft amendments to the transfer pricing documentation ordinance. These show the changes introduced by the bill on the implementation of amendments to the EU Mutual Assistance Directive and other
See MoreVietnam: Imposes anti-dumping tax on steel imported from China
On March 30 2017, the Ministry of Industry and Trade officially decided to levy anti-dumping duties on imported coated steel from mainland China including Hong Kong and the Republic of Korea. Therefore, Bazhou Sanqiang Metal Products will be taxed
See MoreWorld Tax Brief: March 2017
Dominican Republic Filing returns: The Dominican tax authorities allotted new regulation (General Notice No.12-17) in order to improve the tax filing procedures for the annual corporate income tax return (Form: IR-2) and
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