Croatia: Reduced interest rate for related-party loans
National Bank of Croatia has recently reduced bank interest rate from 7% to 3% per annum and was effective from 31 October 2015. This rate will be also decrease for the purposes of corporate profit tax law. The tax rate reduced from 7% to 3% per
See MoreArgentina-Double Tax Treaty with Switzerland enters into force
The new Double Taxation Treaty between Switzerland and Argentina will enter into force on 27 November 2015. The new treaty will be applicable from 1 January 2015. For taxes withheld at source the relief has become applicable from 2015. The new
See MoreDTA between Czech Republic and Pakistan enters into force
The Income Tax Treaty (2014) between Czech Republic and Pakistan entered into force on 30th October 2015 and it generally applies for the Czech Republic from 1st January 2016 and from 1st July 2016 for
See MoreSecond round of FTA negotiations between China and Pakistan
The 2nd round of the China-Pakistan free trade agreement (FTA) negotiations was held in Beijing on October 14 to 16. The negotiations were based on tax reduction for trade in goods; further opening of trade in services; Pakistan’s regulation
See MoreIndia: LOB clause under the India-Singapore tax treaty is not applicable to income taxed on an accrual basis in Singapore
Recently the Rajkot Bench of the Income-tax Appellate Tribunal in the case of: Alabra Shipping Pte Ltd, Singapore v. Income Tax Officer- held that the benefit of the India-Singapore income tax treaty was not to be denied to the taxpayer by
See MoreDTA between Chile and Italy signed
A Tax Treaty between Chile and Italy has been signed on 23rd October
See MoreDTA between Senegal and UAE signed
A tax treaty between Senegal and United Arab Emirates has been signed on 22nd October
See MoreHong Kong-Macao begins FTA Negotiations
Hong Kong has started a consultation on Free Trade Agreement on the areas to be covered in a proposed Closer Economic Partnership Arrangement (CEPA) trade treaty with Macao. At present, Hong Kong and Macao have each entered into a separate CEPA
See MoreHong Kong: Government committed to timely implementation of automatic exchange of tax information
In response to input from stakeholders the government will make changes to a legislative proposal to implement the new international standard on automatic exchange of financial account information in tax matters (AEOI). Based on valuable feedback
See MoreAustria-Chile income tax treaty enters into force
The income tax treaty between Austria and Chile entered into force on 9 September 2015. The treaty generally applies from 1 January
See MoreDTA between Armenia and Slovak Republic ratified by Armenia
The Income and Capital Tax Treaty (2015) between Armenia and Slovak Republic has been ratified by the Armenian Constitutional Court on 29th September 2015. It needs to be enacted by the President and to be published in the Official Gazette of
See MoreSouth Africa-Cyprus amending protocol entered into force
The amending protocol between South Africa and Cyprus regarding income and capital tax treaty entered into force on 18 September, 2015. The protocol was signed on 1 April 2015. Under amending the protocol, withholding tax on dividend payments is 5%
See MoreThe Trans-Pacific Partnership negotiation completed
On October 4, 2015, Ministers of the 12 Trans-Pacific Partnership (TPP) countries – Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam – announced conclusion of their
See MoreUN Committee of Tax Experts to discuss issues related to UN Model
The UN Committee of Experts on International Cooperation in Tax Matters is to meet from 19 to 23 October 2015. Their agenda includes discussion of issues relating to the UN Model Tax Convention; and the next update of the UN Practical Manual on
See MoreUS and Czech Republic: Competent Authority Arrangement (CAA) signed
In accordance with the US and Czech Republic intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA), the competent authority arrangement (CAA) has been signed between the US and Czech Republic on 1st
See MoreDTA between Liechtenstein and UAE signed
In accordance with a press release of 2nd October 2015, a Tax Treaty (DTA) between Liechtenstein and the United Arab Emirates has been
See MoreBulgaria and Tunisia: Social Security Agreement signed
A Social Security Agreement between Bulgaria and Tunisia has been signed on 1st October 2015 in
See MoreCanada and Spain: Protocol to DTA will enter into force
The amending protocol of the Income and Capital Tax Treaty (DTA; 1976) between Canada and Spain will enter into force on 12th December 2015 and it was signed on 18th November 2014. The effective date for withholding taxes on amounts paid or credited
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