Posts by Sabia Liza

India: High Court Decision on Transfer Pricing Comparability

September 2, 2015

The High Court of Bombay issued its decision in the case of: CIT v. Garware Polyester Ltd [ITA 1434 of...

India: High Court Rules on Use of Multiple Year Data and High-Profit Comparables

August 25, 2015

Recently, the High Court (HC) issued its decision in the transfer pricing case of Chrys Capital Investment Advisors (India) Pvt. Ltd...

Pakistan: Compulsory Electronic tax return Filing for Individuals

August 25, 2015

The Federal Board of Revenue announced via Notification S.R.O. 791 (I) /2015 on 10 August 2015, that all individuals earning...

India: Interest on tax refund taxable as business income under the India-UK tax treaty

August 24, 2015

Recently, the High Court in the case of B.J. Services Company Middle East Limited held that the interest earned on an income...

Vietnam: Publishes Guidance on Tax Administration

August 24, 2015

Circular 110/2015/TT-BTC was issued on 28 July 2015 and provides guidance on tax administration and compliance by electronic means. The Circular...

Slovenia: Ministry of Finance Clarifies MAP under tax treaties

August 20, 2015

The Ministry of Finance published a document answering frequently asked questions (FAQs) concerning the mutual agreement procedure (MAP) under tax...

Singapore: Corporate Tax Filing for 2015

August 16, 2015

The Inland Revenue of Singapore (IRAS) has reminded all companies to file their income tax returns for the 2015 assessment...

Singapore Publishes e-Tax guide to Mergers and Acquisitions Scheme

August 11, 2015

The Inland Revenue Authority of Singapore (IRAS) issued a revised e-Tax guide on 13 July 2015 to provide more details...

Japan: Introduction of Tax Identification System from 2016

August 11, 2015

The National Tax Agency (NTA) of Japan has announced that a new tax identification number system (“My Number”) will be...

World Tax Brief: June to July 2015

August 4, 2015

Austria Withholding tax on dividend distributions, capital gains: The withholding tax rate for dividends and capital gains will be increased to...

Denmark: National Tax Tribunal Decision on foreign exchange losses on sale of shares

July 30, 2015

The Customs and Tax Administration published National Tax Tribunal Case No. 122-0208149 on 30 June 2015. The Tribunal held that foreign exchange...

Protocol to treaty between Austria and Belgium approved by Belgium

July 29, 2015

On 5 June 2015 the Belgian Council of Ministers approved the amending protocol, signed on 10 September 2009, to the...

Austria: Parliament and Federal Council approve Tax Reform Act 2015/16

July 29, 2015

The parliament (Nationalrat) and Federal Council (Bundesrat) approved the “Tax Reform Act 2015/16 (Steuerreformgesetz 2015/16)” with minor changes on 23 July...

DTA between Singapore and Thailand signed

July 29, 2015

An Income Tax Treaty between Singapore and Thailand (2015) was signed on 11 June 2015. Once the treaty is in force and...

Singapore: Non-resident individual tax rates to increase from 2017

July 29, 2015

The Inland Revenue Authority (IRAS) announced on 12 June 2015 that tax rates for non-resident individuals will be increased from...

India: Delhi Tribunal allows use of multiple-year data for purposes of determining arm’s length price

July 27, 2015

In the case of DCIT v. Innodata Isogen India Pvt. Ltd. [ITA 1528/Del/2011], the Delhi Bench of the Income Tax Appellate...

India: Transfer Pricing Adjustment For Interest-Free Loan to Related Party

July 27, 2015

Recently, the Income-tax Appellate Tribunal upheld an interest adjustment on a loan that the taxpayer advanced to a related entity...

Slovenia:  Procedures for Advance Pricing Agreements

July 20, 2015

The Ministry of Finance has published proposed changes to the Slovenian Tax Procedure Act. The envisaged amendments bring a broad variety...