Kazakhstan Approves Pending Income Tax Treaty with Qatar
The Kazakh Senate approved a law on ratification of the pending income tax treaty with Qatar, on January 15, 2015. This is the first income tax treaty between the two countries which was signed on January 19, 2014. Both countries apply the credit
See MoreQatar Approves Draft Income Tax Treaty with Japan
The Qatari government approved the signature for a draft income tax treaty with Japan on January 14th, 2015. This would be the first Income Tax Treaty between the two countries. However, it must be signed and ratified by both sides before entering
See MoreSpain: Treaty Details With Andorra
A double tax treaty was signed between Spain and Andorra on 8 January 2015. The treaty generally follows the provisions of the OECD Model Tax Convention. Under the treaty the withholding tax rate on dividends is 15% in general and 5% if the
See MoreBelgium approves DTA Protocol with Greece
On January 30, 2015, Belgium's Cabinet approved the pending Protocol to the Double Tax Agreement (DTA) signed between Belgium and
See MoreCyprus: Central Bank To Reduce Interest Rates
The Central Bank of Cyprus announced lowering its interest rates by 1 percent as of March 1, 2015. The reduction will apply to all loans connected to the bank’s basic interest rate, both serviced and non-performing. In a statement, the bank
See MoreDTA between Qatar and Bangladesh ratified
On February 4, 2015, Qatar's Cabinet ratified the pending DTA between Qatar and Bangladesh at its meeting for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreSingapore: Research and Development tax incentives
From 2010 the economic policies of the government of Singapore have focused on reducing reliance on foreign workers and encouraging businesses to invest in improving productivity, skills, and innovation. However, recent information shows that
See MoreSouth Africa-US FATCA Agreement Enters Into Force
The South Africa-United States FATCA Model 1A Agreement (2014) entered into force on 28 October 2014. The agreement was signed on 9 June 2014. Under the agreement, the US Government collects information regarding certain accounts maintained by
See MoreSaudi Arabia: Withholding tax update on freight and insurance on imported leased equipment
The Higher Appeal Committee ruled that freight and insurance paid on import of assets whether owned or leased should not constitute as Saudi source income. This ruling goes against the interpretation issued by the Department of Zakat and Income Tax
See MoreCyprus-Lithuania Double Tax Treaty Enters Into Force
The double tax treaty between Cyprus and Lithuania entered into force on 1 January 2015, which was signed on June 2013. Under the treaty the following withholding taxes will apply: Dividend: 0% if the recipient is the beneficial owner of at least
See MoreNigeria: Nonresident companies must file income tax return on real profits basis
The Federal Inland Revenue Services (FIRS) in Nigeria has issued a notice demanding all nonresident companies with a permanent establishment (PE) or fixed base (FB) to file tax returns on real basis. The new directive will be applicable to tax
See MoreNigeria-Qatar Income Tax Treaty initials
An Income Tax Treaty between Nigeria and Qatar has initialed on 11th February 2015. Further details of this treaty will be reported
See MoreUnited Arab Emirates and Poland: Income and Capital Tax treaty enters into force
The amending protocol of Income and Capital Tax Treaty between United Arab Emirates (UAE) and Poland will be entered into force on 1st May 2015, which was signed on 11th December 2013. This protocol usually applies from 1st January 2016. The most
See MoreCzech Republic- Cook Islands Exchange of information agreement signs
The Tax Exchange of Information treaty (TIEA) between the Czech Republic and Cook Islands has signed on 4th February 2015 in Auckland. Further details of this treaty will be reported
See MoreAustralia and India accelerate trade agreement negotiations
Negotiations to conclude the Australia-India Comprehensive Economic Cooperation Agreement (CECA) are progressing, with the aim to reach an early conclusion this year. The sixth round of the CECA negotiations was held in New Delhi from 18-19 December
See MoreKazakhstan ratifies DTA with Qatar
On 30 January 2015, the President of Kazakhstan ratified the double taxation agreement (DTA) with Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Furthermore Kazakhstan’s lower house
See MorePakistan: Companies operating in Gwadar Free Zone to get 20-year tax holiday
The Pakistan government plans to provide a 20-year tax holiday to companies that want to establish their business in Gwadar Port's Free Zone. The government has also decided to exempt from customs duties, machinery, equipment and other
See MoreSouth Africa and India: Protocol to treaty enter into force
The amending protocol for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income between India and South Africa enters into force entered into force on 26 November 2014. The protocol generally applies
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