India: Rationalisation of Labour laws – What’s in it for Hirers and Employees?
By Suraj Nangia,Partner and Sandeep Jhunjhunwala, Partner, Nangia Andersen LLP In the seven-decade era of independent country, India housed a complex regime of labour laws affecting every person in India working for their livelihood, right
See MoreAustria: Parliament and Federal Council approve Tax Reform Act 2015/16
The parliament (Nationalrat) and Federal Council (Bundesrat) approved the “Tax Reform Act 2015/16 (Steuerreformgesetz 2015/16)” with minor changes on 23 July
See MoreUS: IRS issues notice setting limits on foreign housing expenses for 2014
In the US the Internal Revenue Service (IRS) has issued Notice 2014-29 providing inflation-adjusted limitations on foreign housing expenses for the 2014 tax year. The figures included in the Notice show that Hong Kong, Moscow, and Geneva are judged
See MoreSlovenia: Government Announces of Tax Cash Register System
The government approved the introduction of a tax cash register system on 5 February 2015. The Act will be published in March 2015 and this system will improve revenue collection. The exact date of the introduction, together with the list of
See MoreRussia: Obligatory notification for dual nationality or foreign residence permits requires
Russia acted out a law that effective from 4 August 2014 requiring Russian citizens to give notice to the Federal Migration Service (FMS) where they have dual nationality, or foreign residence permits. For Russian citizens who already have dual
See MoreUS: Notice 2014-32 announces amendments to recently finalized Section 367(b) regulations applying to certain cross-border triangular reorganizations
The US Treasury Department and US Internal Revenue Service have issued Notice 2014-32 revising the final regulations on certain cross-border triangular reorganizations. The Notice applies where the reorganization involves one or more foreign
See MoreColombia: Percentage of deemed interest on loans between companies and their partners or shareholders
The Colombian government issued decree 629 concerning income tax on 26 March 2014. This decree lays down that the deemed interest on loans between companies and their partners is to be set at 4.07% for year
See MoreItaly Introduces e-advertising Tax Legislation
Italy has introduced a tax measure under which foreign companies must apply for a VAT number if they intend to engage in the sale of online advertising to enterprises in Italy. This measure is to take effect on 1 July 2014. The delay in carrying out
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