Cyprus: 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
See MoreCanada: CRA announces prescribed interest rates for 2018
The Canada Revenue Agency (CRA) has announced the recommended annual interest rates for the first quarter (Q1) on December 15, 2017. It will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. The
See MoreItaly: Detail Explanation of the New Regulation on Patent Box Regime
On the 6 February, 2018 the Italian Ministry of Economic Development and Ministry of Economy and Finance published its Official Gazette on the new patent box regime. The regulation explains the criteria for qualified tax payers, qualified IP,
See MoreEcuador publishes coefficients for presumptive assessment
On 26 January 2018, the Internal Revenue Service (SRI) of Ecuador has published a Resolution No. NAC-DGERCGC18-00000018 to commence the coefficients for presumptive tax assessments for the tax year 2017. The coefficients for 2017, which vary by
See MoreIreland updates rates of Corporation Tax
On 12 February 2018, the Revenue department of Ireland has published an eBrief No. 019/18, amendment to Revenue Tax and Duty Manual Part 02-02-02 - The charge to and rates of Corporation Tax - has been amended as follows: To provide guidance
See MoreAustralia: ATO releases draft PCG on diverted profits tax
On 7 February 2018, the Australian Taxation Office (ATO) publicly released a draft practical compliance guide PCG 2018/D2 concerning Diverted Profits Tax (DPT). The draft PCG has been released for public consultation and submissions close on
See MoreIndia: CBDT Issues FAQs on the Introduction of a 10% Tax on LTCG
On 4 February 2018, the Central Board of Direct Taxes (CBDT) has published Frequently Asked Questions (FAQs) on the introduction of a 10% tax on long-term capital gains (LTCG). The CBDT has issued a detailed FAQ and it addressed numerous questions
See MoreSwitzerland: Federal Council set the parameters for the dispatch on tax proposal 17
The Swiss Federal Council announced that it has set the parameters for the dispatch on the country's tax reform proposal (tax proposal 17) on 31st January 2018. The Federal Council's parameters that will be contained in the dispatch on tax proposal
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