Spain Approves Comprehensive Tax Reform Plans
Spanish parliament has approved the comprehensive tax reforms plans on 24 November 2014, which will be published shortly in the Official Gazette. The legislation will enter into force from January 1, 2015 and followings changes have been taken
See MoreBrazil: Reduced income tax rate on manufacturing industries
The Ministry of Finance has declared that, reduced income tax rate from 34% to 25% will impose on foreign income from resident manufacturing industries, on 15 September 2014.This tax benefit already exists for food and construction industries but
See MoreNorway: Regulations regarding exemptions to the interest
On 24 April 2014, Norway’s Ministry of Finance issued regulations regarding exemptions to the interest deduction limitation rules. Under regulations issued in April 2014 certain securities transactions are exempt from the interest restriction
See MoreIreland – Corporate Tax Rate Effectively Below 11 Percent
A recent technical note issued by the Department of Finance indicates that Ireland has maintained an effective corporate tax rate of about 11 percent since 2003. Enterprises operating in Ireland are liable to corporation tax at 12.5 percent on
See MoreVietnam: Corporate income tax rate reductions and rule changes
The Vietnam corporate income tax rate will be reduced to 20% from 1 January 2016 (now 22%). For taxpayers with total revenue lower than VND 20 billion, the will be 17% effective 1 January 2016 (now 20% as of 1 July 2013). New guidelines published as
See MoreSlovakia: Corporate tax rate reduction, international tax rules changed
The Finance and Budget Committee of the National Council of the Slovak Republic recently proposed some changes to the Slovak Income Tax Act. The proposed changes cover reduction in the corporate income tax rate, carry forward of tax losses, transfer
See MoreRomania: Corporate tax rate remain unchanged
The Prime Minister of Romania has confirmed that the country’s 16 percent flat rate of corporation tax will be kept until 2016. The rate is being kept the same to provide investors with more stability and certainty in taking investment decisions
See MoreNorway : Tax Cut Plan for 2014
The Norwegian Prime Minister announced plans on 5 May 2013 for a modest tax cut for mainland businesses and for increasing taxes on oil companies and multinationals. This plan includes a reduction in the general corporate tax to 27% from 28%
See MoreCorporate Tax Cut in Thailand
To cope with the higher costs arising from its policy of increasing the country’s national daily minimum wage the new government of Thailand has re-confirmed its intention to reduce the rate of corporate income tax. The government expressed
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