Posts by Sabia Liza

World Tax Brief: June 2016

June 27, 2016

Tanzania Incentives: The Budget for 2016/17 was presented to the National Assembly by the Minister of Finance and Planning on...

Pakistan: Publishes Budget for 2016/17

June 21, 2016

The Minister of Finance has published the tax proposals on 3 June 2016 in the Finance Bill 2016 as part of the...

Bangladesh: Finance Minister Confirms New VAT Regime from July 1

June 20, 2016

Bangladesh intends to proceed with introducing a uniform 15% rate of value-added tax (VAT) from July 1.  The change is...

Japan: The penalty for failure to submit the CbC report or the Master File by the due date

June 20, 2016

Japan’s 2016 tax reform was enacted on 29 March 2016 and at the end of April 2016, the National Tax...

Singapore:  Commits to implement CbCR for financial years beginning on or after 1 January 2017

June 20, 2016

The Ministry of Finance announced on 16 June 2016, that Singapore will join the inclusive framework for the global implementation...

Vietnam increases penalty for tax fraud and evasion

June 15, 2016

The General Department of Taxation announced on 6 June 2016, an increase in the maximum penalty that may be imposed...

Austria: Proposes legislation on Transfer Pricing documentation and CbC reporting

June 8, 2016

The Austrian Ministry of Finance (MoF) has published draft legislation to implement the Master File in line with the new...

World Tax Brief: May 2016

June 6, 2016

Australia Main corporate tax rate: The government of Australia announced in the 2016–17 Budget that it will reduce the corporate...

Oman: Corporate tax rate to be increased for liquefied natural gas and mining companies

June 6, 2016

The State Council and the Shura Council on 26 May 2016 approved the increase of the corporate tax rate on...

Germany: Ministry of Finance introducing CbCR, Master File and Local File

June 5, 2016

The German Ministry of Finance published a draft bill on 1 June 2016 to incorporate guidance on transfer pricing documentation...

Austria: Publishes Transfer Pricing Documentation draft Law

May 30, 2016

The Austrian Ministry of Finance (MoF) published the draft of the European Union (EU) Tax Amendment Act 2016 on 9...

Pakistan: Foreign tax registration documents mandatory for non-resident companies

May 17, 2016

The Federal Board of Revenue (FBR) has proposed to make it mandatory for non-resident companies with or without a permanent...

India: The Tribunal held that, no transfer pricing adjustment of AMP expenses

May 15, 2016

The Mumbai Bench of the Income-tax Appellate Tribunal in the case of: L’Oreal India Pvt. Ltd. v. DCIT  [ITA Nos....

India: Proposes amendments to Finance Bill 2016

May 11, 2016

The Finance Bill, 2016 (the Bill) was introduced by the Finance Minister on 29 February 2016 in the Lok Sabha....

Denmark: Publishes new transfer pricing documentation guidelines

May 10, 2016

The Danish Ministry of Taxation issued two Orders : BEK nos. 401 and 402, on 28 April 2016, concerning transfer...

India: APA for earlier year may apply, determining “tested party”

May 7, 2016

Recently, the Delhi Bench of the Income-tax Appellate Tribunal (the Tribunal) in case of: Ranbaxy Laboratories Ltd. v. ACIT (ITA No....

World Tax Brief: April 2016

May 5, 2016

  Algeria Interest income from Government bonds: On 14 April 2016, the Algerian Tax Administration has introduced a note relating to the...

Denmark: Plans for the introduction of alternative dispute resolution for TP cases

May 3, 2016

The Minister of Taxation announced on 2 May 2016, for transfer pricing cases they are planning for the introduction of...