Turkey: Decree publishes that amends investment incentive rules
The Government has published Decree No. 2018/11297 on February 22, 2018, in the Official Gazette. It has already come into force on the similar day. This decree changes the provincial or regional incentives rules. With the help of this amendment,
See MoreRussia: MOF clarifies the application of the 0% rate to dividends
In March 2018, the Ministry of Finance (MoF) clarified the application of the 0% (CIT) rate to dividends received by a company in reorganization. According to article 284(3.1) of the Tax Code, a tax rate of 0% is applied to dividends received by a
See MoreWorld Tax Brief: February 2018
India Main corporate tax rate: The Finance Minister of India presented the Union Budget 2018-19 on 1 February 2018. Accordingly, a reduced corporate income tax rate of 25% will be applied to Indian companies with gross receipts not exceeding INR
See MoreKorea: Government Postponed Reduced Exemption Threshold for Withholding of Capital Gains Tax
Korea decides against lowering ownership threshold for withholding of capital gains tax for foreign investors. Under the rule, if a foreign investor together with its related parties owns less than 25% stake in a locally listed company, capital
See MoreFrance: Publishes new corporate taxation measures
The Ministry of the Economy and Finances published a summary of the main measures introduced by the Finance Law 2018 and the Social Security Finance Law 2018 regarding corporate taxation on 19 February 2018. These measures generally apply from 1
See MoreSouth Africa: SARS announces to change the income tax return for companies
In February 2018, South African Revenue Service (SARS) announced enhancements to the income tax return for companies (ITR14), with an effective date of 26 February 2018. Changes to the ITR14 Form A new IT10 schedule will be made available for
See MoreSouth Africa: Finance Minister presents the Budget for 2018
On 21 February 2018, South Africa’s Minister of Finance, Malusi Gigaba, delivered the Budget for the year of 2018. The budget includes the following tax proposals: VAT rate to increase from 14% to 15%. This change is effective from 1 April
See MoreCyprus: Tax authority publishes ten-year government bond’s yield rates
On 14 February 2018, tax department published ten-year government bond’s yield rates by an announcement for the countries of Cyprus, Czech Republic, Germany, India, Latvia, Poland, Romania, Russia, Ukraine, United Arab Emirates and United Kingdom
See MoreDenmark: Government proposes amendments to corporate taxation rules
On 23 February 2018, the Danish Ministry of Taxation published the bill on corporate taxation. The bill amending the Danish company taxation is as follows: Permanent establishment (PE) The Danish government explicitly states that non-Danish
See MoreCanada: Finance Minister presents the Federal Budget 2018
The Finance Minister, Bill Morneau, presented a federal budget, on February 27, 2018, that plans a clear course for the Liberals to the 2019 election, an aspirational road map designed to ensure that no woman, scientist or national wildlife area
See MoreNetherlands: Dutch Council of Ministers approves fiscal policy agenda
The Council of Ministers approved the fiscal policy agenda on a package to combat tax avoidance and tax evasion. The most important changes are summarized below: Corporate Income Tax (CIT) rate: According to the Agenda, the current standard Dutch
See MoreArgentina publishes guidance on the tax deduction incentive for start-ups
The Ministry of Production has recently released proper instructions regarding tax deduction incentive. This incentives assists to investments in eligible start-ups and it was declared by Law 27.349. This gives a tax deduction equal to up to 75% of
See MoreSingapore: Finance Minister presents the Budget for 2018
On 19 February 2018, the Finance Minister presented the Budget for 2018 to the Parliament. Some of its most significant corporate tax measures are summarized below: For Year of Assessment (YA) 2018, the CIT rebate will be enhanced to 40% of tax
See MoreRussia: MoF clarification on application of thin capitalization rules in the context of tax treaties
Recently, the Ministry of Finance (MoF) issued a Guidance Letter (No. 03-03-06/1/87340) and clarified the application of domestic thin capitalization rules in the context of tax treaties. According to a statement by the MoF, interest paid by a
See MoreNew Zealand: Government drafting amendments to transfer pricing rule
On 14th February 2018 government announced that it will recommend a change to transfer pricing provisions in a bill designed to lessen tax avoidance by multinationals. This bill concerns the new rule to limit the rate of deductible interest on
See MoreCzech Republic: Proposed amendments to income tax for 2019
Recently, Finance Ministry has published the first draft copy of the amendment to the Income Tax Act for comments. These amendments are supposed to be started from year 2019. The proposed personal income tax rate of 19% is 1.1% less than the present
See MoreSweden: Special rules apply to the taxation of certain shares and interests
Recently, the Swedish Tax Agency published a Guidance (No. 202 466593-17/111) provides that dividends and capital gains on unlisted shares in a foreign legal person are taxed at a reduced rate only if the taxpayer is a tax resident. Special rules
See MoreCanada: British Columbia issues draft budget 2018-19
The Finance Minister of British Columbia, Carole James, presented the province’s fiscal budget 2018-2019 on February 20, 2018. The summary of this budget is given below: A new child care program that makes care effectively free for some
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