Posts by Sabia Liza

World Tax Brief: August 2016

August 28, 2016

UK Incentives: On 20 July 2016 the UK publishes updated statistics on claims for creative industry tax relief. The statistics...

Denmark: Danish Assessment Board issues ruling on profit allocation to permanent establishment

August 22, 2016

The Danish Assessment Board gave its ruling on 16 August 2016, in the case of SKM2016.353.SR on the correct profit...

Mauritius: Publishes Budget for 2016-2017

August 15, 2016

The budget for 2016 – 2017 was provided on 29 July 2016 to the National Assembly by the Minister of...

Pakistan: Changes capital gains tax and immovable property

August 15, 2016

The President of Pakistan has circulated the Income Tax (Amendment) Ordinance, 2016 to further amend the provisions regarding valuation of...

Sweden: Transfer pricing guidance updated with BEPS

August 13, 2016

The tax authorities issued an updated version of the Swedish Transfer Pricing guidance on July 2, 2016. The guidance has...

Pakistan: Government has decides to apply 0% sales tax on five export sectors

August 10, 2016

The government has decided to zero-rate for the local suppliers of textile, leather, carpets, surgical and sports sectors from 2016-17....

India: The tribunal held the Comparable Uncontrolled Price is the most appropriate method

August 10, 2016

The Delhi Bench of the Income-tax Appellate Tribunal upheld the decision in the case of: Liugong India Private Ltd. v. ACIT...

WTO backs Argentina’s anti-avoidance tax measures

August 9, 2016

The Appellate Body of the World Trade Organization (WTO) provided its report on 14 April 2016, regarding “Argentina – Measures...

World Tax Brief: July 2016

August 7, 2016

Argentina Dividend: In Argentina, Law 27,260, the amendment to the Income Tax Law (LIG) was publishes in the Official Gazette....

Austria: Publishes government bill of new Transfer Pricing Documentation Law

July 27, 2016

Finance (MoF) published the government bill of the European Union (EU) Tax Amendment Act 2016, including among other provisions, the...

India: Tribunal held that Transfer Pricing Officers have the authority to determine the arm’s length price

July 25, 2016

The Delhi Bench of the Income-tax Appellate Tribunal in the case of: Nikon India Pvt. Ltd. v. DCIT (ITA No....

India: CBDT amends rules relating to GAAR effective date

July 25, 2016

The Central Board of Direct Taxes (CBDT) issued Notification No. 49/2016 (the Notification) dated 22 June 2016 on the effective...

Slovenia: Publishes proposal for amending corporate income tax

July 25, 2016

The government published a proposal on 12 of July 2016, for amending the Corporate Income Tax Law. According to the...

Japan: Publishes guidance under new transfer pricing documentation rules

July 24, 2016

Japan’s national tax agency has released guidance concerning new transfer pricing documentation rules. The guidance released on 30 June 2016...

Slovenia: Publishes R&D tax incentives guidance

July 24, 2016

The Financial Administration published the guidance on the application of research and development (R&D) tax incentives on 14 July 2016....

Taiwan : Implements CFC, place of effective management concepts

July 20, 2016

Taiwan’s Legislative Yuan amended the Income Tax Act (ITA) on 12 July 2016, and introduced the controlled foreign company (CFC) rules, incorporating...

Singapore: Publishes E-Tax Guide on General anti-avoidance rule

July 18, 2016

The Inland Revenue Authority of Singapore (IRAS) issued an e-Tax Guide (the Guide) on 11 July 2016, clarifying the general...

El Salvador: Financial statements need to be submitted electronically by large taxpayers

July 3, 2016

The tax authorities issued Circular DG-001/2016 on 13 June 2016, launching that large taxpayers must file their 2015 financial statements...