Ecuador: NA Approves Mutual Assistance Agreement on Tax matters
On 7 August 2019, Ecuador's National Assembly approved the bill for the ratification of the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 protocol. Its objective is to facilitate
See MoreCyprus: Tax department issues guidance relating to exchange of information with Austria
Recently the Cyprus tax department issued a guidance which is related to the exchange of information with Austria under Directive 2014/107/EU on mandatory automatic exchange of information along with Common Reporting Standard (“CRS”) based
See MoreIsrael signs convention and protocol in tax matters
Israel joined the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on 24th November 2015. The Convention came into existence on 25th January 1988 and the amending protocol was signed on 27th May
See MoreUS: IRS Issued New Revenue Procedures on Competent Authority and Advance Pricing Agreement
The IRS has issued two revenue procedures on August 12, 2015 with details guidance to request assistance from the US competent authority under income tax treaties and to obtain an advance pricing agreement (APA) program. The proposed version of
See MoreECJ requested to give a preliminary ruling on pension surtax
The European Court of Justice (ECJ) was requested by Finland’s Supreme Administrative Court (KOH) on 6 March 2015 to give a preliminary ruling in respect of the pension surtax. Finland has imposed a surtax of 6% on large pensions since 2013. The
See MoreEU-Ukraine Association Agreement Ready To Ratify
The technical preparation of the EU-Ukraine Association Agreement for its subsequent ratification by parliament will be completed in the near future, the Ukrainian Foreign Ministry has said. Both sides will progressively establish a free trade area
See MoreEU – European Bankers Warn Of FTT Fallout
The European Banking Federation (EBF) considers that the introduction of a financial transaction tax (FTT) by some European Union member states will create uncertainty for business in the whole EU. Even if the FTT is implemented by only some of the
See MoreEU Member States Criticized for Lack of Transparency in FTT
At the EU’s ECOFIN meeting of economic and financial ministers on 6 May 2014 a joint statement was issued by ten of the member states that are going ahead with the financial transactions tax (FTT) In all, eleven EU member states have decided to
See MoreGermany and the EU Agree Energy Tax Break Revision
Germany is being allowed by the European Commission to continue to give energy tax incentives to 65 sectors under the renewable energy tax rules. There has been a long discussion as to whether the measures constitute illegal state aid under EU
See MoreEU Tackles Single Market Tax Obstacles
The European Commission has begun two public consultations, on discriminatory tax rules that my affect the position of individuals in European Union (EU) member states. These consultations are aim to help efforts to take away tax obstacles to
See MoreCzech Republic joins Convention and protocol on Mutual Administrative Assistance in Tax Matters
The multilateral Convention on Mutual Administrative Assistance in Tax Matters, as amended by the 2010 protocol, entered into force in respect of the Czech Republic on 1 February 2014. The Convention and the amending protocol generally apply in the
See MoreCroatia-Bill Ratifying Multilateral Tax Convention
The government of Croatia has sent a bill to parliament to ratify the Convention on Mutual Administrative Assistance in Tax Matters. This move forms part of the country's aims to fulfill its tax obligations on an international level. Croatia signed
See MoreEU: Tackling VAT fraud with Russia and Norway
It was reported on 15 December that, in efforts to continue to contain the spread of EU VAT fraud further afield, the European Commission will commence discussions early in 2014 on fiscal co-operation with Norway and Russia. The head of the EU’s
See MoreCroatia amends the General Tax Law
Amendments to the General Tax Law have been published in Official Gazette No. 73/2013 and they entered into force on 26 June 2013.EU law with effect from 1 July 2013, Some EU directives have been implemented into Croatian legislation like- Mutual
See MoreUK: the European Commission opens an investigation into the tax relief for video games
The UK is introducing tax relief for the animation, high end TV and video games industry from 1 April 2013. The relief would amount to a 25% tax reduction based on 80% of the production budget of a qualifying animation or video game relating to
See MoreEU: ECJ Rules on German foreign tax credit rules
The European Court of Justice (ECJ) issued a decision on 28 February 2013 in the case of Dr. Manfred Beker and Christa Beker v Finanzamt Heilbronn. A preliminary ruling from the ECJ had been requested by the Federal Finance Court. The case
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