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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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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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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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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OECD: Measuring Tax Support for R&D and Innovation

December 28, 2021

On 9 December 2021 the OECD published the latest research and development (R&D) tax incentives database report. This was accompanied by the 2021 update of the R&D Tax Incentives database and a series of R&D tax incentive country

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IMF Report on India’s Economy

November 15, 2021

An IMF country focus on 12 November 2021 indicates that India’s economy is preparing to rebound following the setbacks inflicted by the second wave of Covid-19 infections. India’s substantial policy responses to the pandemic, with economic

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UK: New Tax Regime for Asset Holding Companies

November 07, 2021

The UK budget announcements on 27 October 2021 proposed that legislation would be included in the Finance Bill 2021/22 to set up a new tax regime for qualifying asset holding companies (QAHCs). This change is part of a broader review of the UK

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UN: Tax Committee Discusses Interaction of Investment Agreements and Tax

October 26, 2021

In its meetings from 19 to 28 October 2021 the UN Committee has covered, among other issues, the interaction of tax, trade and investment agreements. A Note on the Interaction of Tax Trade and Investment Agreements was prepared by the UNDESA

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Turkey: Parliament members submit a new Tax Bill to the Parliament

October 07, 2021

On 1 October 2021, Turkish Parliament members have submitted a new Tax Bill to the Parliament which includes tax filing periods, tax exemptions, and incentives. The key corporate tax measures of the Bill are: In the reduced corporate tax

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UK: Patent Box Relief Statistics Updated

October 04, 2021

Under the patent box legislation in the UK companies can enjoy a lower rate of UK corporation tax on their profits earned from qualifying patented inventions and some other equivalent types of intellectual property. The patent box relief was

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OECD: Research and Development Tax Incentives and Effective Tax Rates

August 05, 2021

On 28 July 2021 the OECD published on its website tax working paper no 54 entitled Corporate Effective Tax Rates for R&D: The case of expenditure-based R&D tax incentives, written by Ana Cinta González Cabral, Silvia Appelt and Tibor

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Armenia: Parliament extends the tax incentives for exporters

June 08, 2021

On 26 May 2021, the Parliament of Armenia has approved a bill on extending the tax incentives for exporters to 31 December 2029. The provided incentive was scheduled to 31 December 2021 for resident companies that are exclusively engaged in exports

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