India: CBDT issues notification for non-resident investors in financial products by IFSC capital market intermediaries

January 25, 2024

On 4 January 2024, India's Central Board of Direct Taxes (CBDT) issued Notification No. 4/2024 as per the provisions of Section 10, Clause 4G, of the Income Tax Act, 1961. This notification specifically addresses entities who are not residents and

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Peru announces tax incentives for agro and textile sectors for 2024

January 01, 2024

On 30 December 2023, Peru published Law No. 31969 in the Official Gazette. The law introduces new incentives to enhance competitiveness and stimulate job creation in various sectors, including agriculture and textile industry. One key incentive

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Malta grants full deduction for IP expenditure from 2024

December 30, 2023

On 28 December 2023, Malta's Commissioner for Revenue declared that starting in 2024, taxpayers can fully deduct any expenditure of a capital nature related to intellectual property or intellectual property rights. The Commissioner for Tax and

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OECD: Decarbonisation and Intergovernmental Fiscal Relations

June 11, 2023

On 6 June 2023 the OECD published a working paper with the title Decarbonisation and intergovernmental fiscal relations: Policy challenges and reform options by Luiz de Mello and Teresa Ter-Minassian. The study represents the latest in a series of

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WTO: Strengthening LDC economies

June 02, 2023

On 31 May 2023 the WTO member states discussed a number of initiatives that aim to strengthening the economic output of less developed countries. The meeting of the Sub-Committee on Least-Developed Countries (LDCs) heard from Angola, Rwanda and

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WTO: International Trade Cooperation to Strengthen Preparation for Future Pandemics

June 04, 2022

On 3 June 2022 the World Bank and the WTO launched a document entitled: Trade Therapy: Deepening Cooperation to Strengthen Pandemic Defenses. The publication notes that trade has an important role to play in the response to health crises such as

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WTO: Trade Policy Review of New Zealand

June 01, 2022

On 1 and 3 June 2022 the WTO is carrying out a trade policy review of New Zealand. A report has been issued by the WTO Secretariat as a basis for the review. The report notes that New Zealand considers trade as very important for its prosperity.

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EU: European Commission Proposes Tax Allowance for Equity

May 15, 2022

On 11 May 2022 the European Commission put forward proposals for a tax allowance that would reduce the current tax advantage for debt over equity. This allowance would be designed to encourage businesses to access more equity financing and reduce

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UK: Research on Awareness of Pension Tax Relief

April 21, 2022

In 2015 HMRC commissioned a research agency to conduct independent research on pension tax relief, exploring awareness and understanding of the pension tax system in the UK. The research included discussion groups with individuals; interviews with

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UK: Summary of Responses to Consultation on Corporate Re-domiciliation

April 13, 2022

On 12 April 2022 the UK government published a summary of the responses to the consultation on corporate re-domiciliation. The UK aims to introduce a regime to enable companies to move their domicile to, and relocated to, the UK.

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WTO: Trade Review of UAE

March 25, 2022

From 22 to 24 March 2022 the World Trade Organisation (WTO) conducted a review of the trade policies and practices of the United Arab Emirates (UAE). As a basis for the review, a report was prepared by the WTO Secretariat. The UAE’s economy

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OECD: Public Consultation on Tax Transparency Framework for Crypto-Assets

March 23, 2022

On 22 March 2022 the OECD published a consultation document in relation to a global tax transparency framework for reporting crypto-assets and proposed changes to the common reporting framework for automatic exchange of financial account

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IMF: New Database on Special Purpose Entities

March 03, 2022

On 2 March 2022 the IMF announced the release of a new database on special purpose entities (SPEs) showing cross-border flows and positions of SPEs and based on an internationally agreed definition of SPEs. The release of the database follows

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OECD: Building an Investment Tax Incentives Database

February 28, 2022

On 24 February 2022 the OECD published a working paper entitled Building an Investment Tax Incentives Database. Countries use tax incentives to attract investment, but if tax incentives are poorly designed, they may be of limited effectiveness.

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IMF report looks at tax reforms in Morocco

February 10, 2022

On 9 February 2022 the IMF published a report following discussions with Morocco under Article IV of the IMF’s articles of association. After contracting in 2020, the economy is estimated to have grown by 6.3% in 2021. GDP growth is projected

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New Zealand: OECD Economic Survey for 2022 Recommends Tax Adjustments

February 04, 2022

On 31 January 2022 the OECD published the New Zealand Economic Survey 2022. The report notes that more consolidation measures are necessary to stabilise the fiscal position, and emphasises the need to increase productivity, increase the housing

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Vietnam proposes incentive package for 2022

January 22, 2022

On 4 January 2022, the Government has proposed a package on reduction and exemption of tax and land use fees worth VND 64 trillion (US$2.81 billion) for 2022 with an aim to facilitate post-pandemic recovery and socio-economic development in 2022 and

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UK: Statistics on Venture Capital Trusts

January 21, 2022

On 21 January 2022 the UK released statistics on Venture Capital Trust (VCT) tax relief for the year 2020/2021. The annual statistics on VCT tax relief help the UK government to monitor the cost and effectiveness of the tax relief, which may be

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