UK: Statistics on funds raised through the EIS and SEIS
The Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) are two of the tax advantaged venture capital schemes in the UK, the other being the tax relief for investment in venture capital trusts. Owing to demand for
See MoreUK: Changes to EIS and venture capital trusts
In the UK the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and the venture capital trust (VCT) rules allow companies to raise capital by providing income tax relief on a percentage of the investment in shares of
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 MorePeru: New law on tax incentives for medium-sized, small and micro enterprises
In Peru, Law 30327 providing tax incentives for medium-sized, small and micro enterprises was published in the Official Gazette on 21 May 2015. According to the new law medium-sized, small and micro enterprises are now subject to tax under the
See MoreSingapore Updates Rules on Goods and Services Tax
The Inland Revenue Authority of Singapore (IRAS) has updated the rules on de-registration for Goods and Services Tax. There have been broad changes to paragraph 7.7 of the rules concerning de-registration. This section concerns the de-registration
See MoreMalaysia: Government offers tax incentives to MNCs
Malaysian Government issued guidelines on April 6, 2015, regarding tax incentives to Multinational Companies that set up a principal hub in Malaysia. The incentives include low tax rates and customs-free imports that create high paying jobs and
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 MoreVietnam: Publishes Decree No. 12 on corporate income tax
Decree No. 12/2015/ND-CP (Decree 12), on the implementation of Law No. 71/2014/QH13 dated 26 November 2014 was issued on 12 February 2015. Decree 12, which is effective from 1 January 2015, supplements and amends a number of tax laws. The main
See MoreUK: Pension changes for individuals who already have an annuity
The UK has announced that measures announced last year to give more choice to individuals on how to use their pension fund will be extended to people who already have an annuity. With effect from April 2016 the restrictions on buying and selling
See MoreUK: Launches business rates review
The UK government has published a consultation paper on the review of the business rates, the local tax on business based on property values. Responses may be sent in by 12 June 2015. The business rates in the UK are charged on non-domestic
See MoreCanada: New funding announces to support mining oil and gas exploration
The Canadian Finance Minister has declared the current intention of Government is to give support for the mining and oil and gas industry: Federal Mineral Exploration Tax Credit: This private tax credit has been extended to 31st March 2016. Tax
See MoreSouth Africa: Tax Free Savings Accounts from 1 March 2015
South Africa's National Treasury has published the final Notice and Regulations that allow for the introduction of tax-free savings and investment accounts (TFSAs) from the start of the next tax year on March 1, 2015. The main objective is
See MoreSouth Africa: SARS Releases Draft Guidance On Tax Breaks For Headquarters Companies
The South African Revenue Service (SARS) on February 12 2015 released draft guidance on tax incentives for headquarters companies, designed to encourage MNEs to local operations in South Africa as a gateway to African investment. The guide briefly
See MoreFinland: Tax Administration Publishes Guidance On Income From Investment Funds
The Tax Administration has released a new 2/9/2015 written instructions (number A23/200/2015) relating to the fund through the investment tax matters in income tax for private customers. The document covers the fund to take place in the form of
See MoreMorocco: IMF encourages further reform to pensions and taxation
On 6 February 2015 the IMF finished its first review of Morocco’s economic position in connection with a Precautionary Liquidity Line (PLL) arrangement that was approved by the IMF in August 2014. Under this arrangement Morocco would only draw
See MoreWTO: Discussions on waivers to help LDC exports of services
As part of discussions on implementation of the Bali package discussions have taken place in the World Trade Organization (WTO) on waivers of the usual most favored nation (MFN) rules to help less developed countries (LDCs) when cross-border
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 MoreSlovenia Publishes Monthly Minimum Salary for 2015
The Slovenian government has published a Decree in Official Gazette No. 6 of 30 January 2015 increasing the monthly minimum salary. This has been increased due to a revision of the inflation rate in 2014 and is now EUR 790.73 (previously EUR
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