Posts by Sabia Liza

World Tax Brief: February 2017

March 5, 2017

India Corporate income tax rate: On 1 February 2017, the Finance Minister has presented the Budget for 2017-18. According to...

Dominican Republic: Notice on deduction of transfer tax on industrialized goods and services

March 1, 2017

The Directorate General of the Internal Revenue issued a notice on 17 February 2017 explaining that qualifying companies can deduct...

Sweden: No new bank tax before 2018

February 28, 2017

The government announced on 24 February 2017 its decision to withdraw plans to introduce a special tax on banks and...

India: Clarification on determination of POEM provision

February 28, 2017

The Central Board of Direct Taxes (CBDT) has issued Circular No. 8/2017 of 23 February 2017 clarifying that the existing...

Pakistan: Modifies Income Tax Rules 2002

February 28, 2017

The Federal Board of Revenue (FBR) has published the Income Tax Rules 2002 as amended  up to 10 February 2017. The main...

Germany-India: Social security agreement to enter into force

February 27, 2017

The Germany – India Social Security Agreement will enter into force on 1 May 2017. The agreement generally applies from...

India: Tribunal holds that resale price method is most appropriate method

February 27, 2017

The Delhi Bench of the Income-tax Appellate Tribunal in the case of: Swarovski India Private Ltd. v. ACIT (ITA No....

Japan introduces CbC reporting notification requirements

February 26, 2017

Recently, Japan has introduced notification requirements related to Country-by-Country Reporting (CbCR) in line with the Organization for Economic Co-operation and...

Pakistan: FBR Proposes rules for common reporting standard

February 24, 2017

The Federal Board of Revenue (FBR) released SRO 101(I)/2017 on 17 February 2017, which proposes draft amendments to the Income...

DTA between Russia and Spain: Russia clarifies taxation of dividends paid to non-resident

February 23, 2017

The Russian Ministry of Finance (MoF) on 22 February 2017, issued Guidance Letter No. 03-08-05/73316 of 7 December 2016, clarifying...

Vietnam: A new legal framework for the international sale of goods

February 20, 2017

Recently, Vietnam ratified the UN agreement on contracts for the international sale of goods (CISG), which took effect on 1...

Japan: Tax treatment of income from U.S. limited partnerships is treated as fiscally transparent entity

February 19, 2017

On 9 February 2017, Japan’s National Tax Agency (NTA) released a report on its website confirming that a US limited...

Austria: Updated the guidance on tax incentives for start-up companies

February 16, 2017

The Ministry of Finance updated guidance on tax incentives for start-up companies on 14 February 2017. The incentives for start-up...

Slovenia publishes procedures on monthly corporate income tax advance payments

February 14, 2017

The tax authority issued guidelines on 3 February 2017 clarifying monthly advance payments of corporate income tax resulting from the...

 Denmark: Publishes Budget for 2017

February 13, 2017

The Ministry of Finance on 8 February 2017, published the Budget for 2017 as enacted on 15 December 2016. The...

India and Cyprus Income tax treaty renegotiated

February 8, 2017

The Income Tax Treaty between Cyprus and India signed on 18 November 2016, have become available the treaty’s details. Both...

India: Proposes to introduce thin capitalization rule

February 8, 2017

Based on India’s commitment to counter tax avoidance, recently the Finance Bill, 2017 has proposed to introduce new section i.e....

Mauritius: Introduced Alternative Dispute Resolution mechanism

February 7, 2017

The Minister of Finance and Economic Development of Mauritius in his 2016-2017 Budget Speech, announced the establishment of an Alternative...