Posts by Sabia Liza

Russia: Proposes health tax on tobacco products

March 21, 2017

The Ministry of Health announced a proposal on 16 March 2017, to impose a health tax on tobacco products, based...

Vietnam: Recently released a new transfer pricing decree

March 20, 2017

Vietnam’s Government has recently released a Transfer Pricing (“TP”) Decree No. 20/2017/ND-CP on 24 February 2017, provided that tax administration...

India: Delhi High Court removed the penalty assessment for related-party transactions

March 20, 2017

The Delhi High Court, in the case of: Pr.CIT v. Mitsui Prime Advanced Composites India Pvt. Ltd. (ITA 913/2016, CM...

Ghana: Parliament Approves the Budget for 2017

March 19, 2017

The Parliament approved the Budget for the 2017 financial year after six days of fierce debate on it between the...

Sweden publishes regulation on automatic exchange of CbC reporting

March 18, 2017

The regulation on the automatic exchange of country-by-country (CbC) reporting (the Regulation) was published in the Official Gazette on 14...

Dominican Republic: Publishes new processes for filing corporate income tax return

March 16, 2017

The Dominican tax authorities issued new guidance that is intended to improve tax filing procedures for the annual corporate income...

Russia: Clarifies the taxation of CFC profits in determining the corporate tax base of a consolidated tax group

March 15, 2017

The Ministry of Finance (MoF) on 3 March 2017, published Guidance Letter No. 03-12-11/3/5790 of 3 February 2017, clarifying the...

Russia: Publishes the draft procedure on multilateral APAs

March 15, 2017

The Russian Finance Ministry on 3 March 2017, published a draft Procedure outlining the process for handling multilateral Advanced Pricing...

DTA between Ghana and Mauritius signed

March 15, 2017

Ghana and Mauritius signed a tax treaty for the avoidance of double taxation and the prevention of fiscal evasion in...

India: GST Council approves draft CGST and IGST Bills

March 14, 2017

The GST Council approved the draft Central Goods and Services Tax (CGST) Bill and Integrated Goods and Services Tax (IGST)...

India: Related-party Relationship Upheld by The Tribunal

March 14, 2017

Recently, the Chennai Bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of: Hospira Healthcare India Private Limited...

Austria: Approves draft bill on reduced air travel tax rates

March 13, 2017

The government approved a draft bill amending the air travel tax law on 7 March 2017. The draft bill provides...

India signs fifth bilateral advance pricing agreement with Japan

March 11, 2017

On 6 March 2017, India has signed a bilateral advance pricing agreement with the Indian subsidiary of a Japanese company,...

Sweden approves the new legislation on transfer pricing documentation and CbC reporting

March 11, 2017

Sweden’s parliament on 1 March 2017, adopted the government’s proposal on transfer pricing documentation and country-by-country reporting. The adoption amounts...

Russia: Clarifications on carry-forward of CFC losses

March 10, 2017

The Ministry of Finance (MoF) issued Guidance Letter No. 03-04-05/5577(2 February 2017), clarifying the issue of losses incurred by a...

Germany: Ministry of Finance publishes guidance on application of OECD’s Common Reporting Standard

March 7, 2017

The German Ministry of Finance on 3 March 2017, published official guidance (1 February 2017), on the application of the...

Ghana: Proposes the Budget for 2017

March 6, 2017

The Minister of Finance presented the Budget for 2017 to Parliament on 2 March 2017. The following tax measures are...

DTA between Jersey and Mauritius signed

March 6, 2017

A Double Taxation Agreement (DTA) between Jersey and Mauritius for the avoidance of double taxation and the prevention of fiscal...