Pakistan: Introduces an incentive scheme for industrial and trade sectors under no question on source of investment
The government has agreed on a new incentive scheme for industrial and trade sectors under which tax authorities will not question the source of investment, industry sources said on 22 January 2017. Sources in Federal Board of Revenue (FBR) also
See MoreOECD invites comments on interaction between treaty-related BEPS provisions and treaty entitlement of non-CIV funds
A collective investment vehicle (CIV) is an arrangement that permits investors to pool their money and to purchase investments from that pooled fund rather than buying the investments directly as individuals. The report on Action 6 of the project on
See MoreUruguay: Fiscal benefits extended for implementation of electronic invoicing system
The Decree of 19 December 2016 adopted by the Ministry of Economic Affairs and Finance extended the benefits provided for by Regulation No 324/011 concerning the development and implementation of the system of electronic tax documents until 31
See MoreHungary-Amendments to the Tax law amendments adopted by the parliament
The amendments to the Hungarian Tax Law submitted by the Minister of Economy of Hungary were accepted on 12 December 2016 without any major modifications. According to the adopted Tax Law the new tax measures are as follows: Tax
See MoreBelgium launches broader innovation deduction
The Government of Belgium formally pronounced the innovation deduction as the successor of the Belgian patent income deduction on 2 December 2016. The new regime is intended to increase the competitiveness of the Belgian economy while complying with
See MoreAzerbaijan-Budget Bill for 2017 submitted to parliament
Azerbaijan’s Budget Bill for 2017 had been submitted to the parliament on 15 November 2015. The Bill specifies various measures on tax, customs and social security to be taken in 2017. According to the plans stipulated on the Budget Bill, the
See MoreGreece: Budget 2017 has been passed
The final draft Budget 2017 has been voted and passed on 10th December 2016 and it was submitted to the parliament on 21st November 2016. Note that, the draft Budget 2017 does not contain new tax
See MoreHungary-amendments to the Tax Law submitted to the parliament
The Tax amendments announced by the Minister of Economy of Hungary were submitted to the parliament on 5 December 2016. According to the proposed amendments the corporate income tax rate will be reduced as the current progressive rates of 10% and
See MoreGreece: Final draft Budget 2017 submitted to parliament
The final draft budget for 2017 has been submitted to the parliament by the Deputy Finance Minister on 21st November 2016. It is available in Greek language. It is estimated to be passed on 10th December 2016. The proposal of draft Budget for 2017
See MoreUK: Extension of interim securitization regime
Securitization companies are used by some businesses to raise funds by issuing debt to the market and holding assets as security. The transactions depend on the quality of the debt issued and this in turn depends on the rating given by the credit
See MoreGreece: Maximum amount of aid per investment project offered for 2016
Ministerial Decree No. 106688 was published in the Official Gazette on 14th October 2016 regarding the determination of the maximum amount of aid per investment project tendered in 2016 under the new investment law. This decree refers Mechanical
See MoreGreece: Maximum amount of aid for 2016
Ministerial Decree No. 106688 was published in the Official Gazette on 14th October 2016 regarding the determination of the maximum amount of aid per investment project tendered in 2016 under the new investment law. This decree refers Mechanical
See MoreTurkey: R&D reform Package increases
Some amendments regarding the current research and development (R&D) incentives were introduced on the basis of Turkish Law no. 6676. Companies those carry out R&D activities in Turkey may benefit from the R&D incentives and aids for
See MoreGreece: Draft Budget 2017 has been submitted to parliament
The draft Budget for 2017 has been submitted to the parliament (Committee of Economic Affairs) on 3rd October 2016. Now, it is available on the official website of the Finance Ministry. The following main things are enclosed with the Budget:
See MoreSwitzerland: Parliament adopted the final Corporate Tax Reform III
On June 17, 2016, the Swiss parliament adopted the final Corporate Tax Reform III package (CTR III) to strengthen Switzerland’s competitiveness as a business location. The Corporate Tax Reform III includes several notable tax reform measures
See MoreFrance: Announces draft Finance Bill for 2017
The French Ministry of Finance presented, during a press conference on 28 September 2016, the main tax provisions of what will be the draft Finance Bill for 2017, prior to the bill being submitted to the French Parliament. Among the provisions that
See MoreUK: Update on advance assurance for R&D tax relief
On 24 August 2016 HMRC held a webinar to provide an update on the advance assurance scheme for research and development (R&D) tax relief. The scheme which is aimed at small companies was launched in November 2015 and there have so far been more
See MoreOECD: Addressing BEPS involving interest in the banking and insurance sectors
On 28 July 2016 the OECD issued a discussion draft outlining approaches to combating base erosion and profit shifting (BEPS) involving interest in the banking and insurance sectors. This is part of further work following the final report on BEPS
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