Uruguay- Fiscal Transparency Law issued
Uruguay has issued Decree 77/2017 as a guide to Law No 19.484 which sets out the provisions on compliance with international standards for fiscal transparency. The Decree clarifies which companies are required to provide the tax authorities with
See MorePakistan: FBR publishes the guideline on withholding taxes
Recently, the Federal Board of Revenue (FBR) has published the guideline on withholding taxes updated up to 22 March 2017. The guideline covers all requirements for both final and non-final withholding taxes under the territory of Pakistani tax
See MoreOman: Treatment of withholding tax on dividends
On 20 March 2017, the Capital Market Authority of Oman issued Circular E/3/2017 clarifying the application of withholding tax on dividends recently introduced by way of Royal Decree 9 of 26 February 2017. The circular clarifies that the withholding
See MoreColombia: DIAN pronounces withholding tax on pensions
According to a ruling 2140 of 2017, the Colombian National Tax Authority (DIAN) pronounced on the cases where pensions are subject to withholding tax. Article 17 of Law 1819 of 2016 amended article 383 of the Tax Code that provides the withholding
See MoreUK: Withholding tax exemption on interest for debt traded on a MTF
At Spring Budget 2017, the government of United Kingdom announced its intention to introduce an exemption from withholding tax on interest for debt traded on Multilateral Trading Facilities (MTF), in order to make UK wholesale debt markets (that
See MoreNetherlands: Decree establishing market interest rates for interest-free liabilities
Decree No. 2017-22042 of 7 March 2017 establishing the market interest rates for interest-free liabilities have been published in official gazette No. 15371 on 17 March 2017. The Decree updates and replaces the Decree No. BLKB2015/1650M of 10
See MoreSaudi Arabia- Regulations for implementation of Zakat issued
The Tax Authority of Saudi Arabia issued the Regulations for implementation of Zakat under Ministerial Resolution No. 2082 of 28 February 2017 (01/06/1438H) on 9 March 2017, The regulations applies to all commercial activities established for
See MoreSouth Africa: Government increased the rate of dividends withholding tax (DWT) from 15% to 20%
The 2017 Budget Speech delivered by Minister Gordhan on 22 February 2017 increased the rate of Dividends Withholding Tax (DWT) from 15% to 20%. To reduce the difference between the combined statutory tax rate on dividends and the top marginal
See MoreUkraine: Amendments to tax code effective from 1 January 2017
The amendments to the Tax Code have been effective, with some exceptions, since 1 January 2017. Below is a summary of the most significant changes in corporate profit tax and transfer pricing. Corporate profit tax: The general tax rate remains
See MoreOman: Key changes to income tax law
On 26 February 2017, the Oman Government has passed a Royal Decree 9/2017 in the Official Gazette with a number of significant changes to Income Tax Law 2010. The major changes passed by the Royal Decree are following: An increase in the
See MoreSouth Africa: Finance Minister presents the Budget for 2017-2018
The Finance Minister of South Africa presented the Budget for 2017-18 to the Parliament on 22 February 2017. The main tax proposals of the Budget are given below. The 2017/18 tax year sees the introduction of a new top marginal income tax bracket
See MoreAngola: Tax provisions released in Budget Law 2017
The budget law 2017 was officially made available to the public on 10th February 2017. The budget law was approved by the National Assembly on 17 November 2017 and was enacted on 31 December 2016. According to Budget Law 2017, the 10% withholding
See MoreBrazil: Tax authority defines withholding tax payments for technical services source in US
Brazilian tax authorities define the withholding tax for technical services made available by individuals in United States through Private Ruling 5/2017 (Solução de Consulta 5/2017), published in the Official Gazette on 18 January 2016. The
See MoreDTA protocol between Brazil and Canada confirm WHT rate on technical services
A Private Ruling 5/2017 (Solução de Consulta 5/2017) has been published in the Official Gazette on 18th January 2016. This ruling confirms that payments made by Brazilian sources to individual or companies resident in Canada for technical
See MoreBelgium: Immovable withholding tax indexation rate of 2017
On 16 January 2017, the Belgian Federal Public Service for Finance issued a circular which discloses the 2017 indexation rate for the immovable withholding tax at 1.7491%. In accordance with the Circular no immovable withholding tax will be due in
See MoreColombia: Tax reform summary 2016
According to law 1819 of 2016, adopting the structural tax reform bill approved on 23 December 2016. It introduces the following major changes to the corporate income tax regime: Income tax rates As from tax year 2019, a single income tax rate of
See MoreAzerbaijan: Published Amendments to Tax Code relatinged to withholding tax regime
In Azerbaijan, Law No. 454-VQD of 16 December 2016 (the Law) introducing certain amendments to the Tax Code has been published in the Official Gazette No. 287 (7431) on 25 December 2016. The Law introduces certain amendments to the withholding tax
See MoreDraft bill of program law adopted by Belgian parliament
In December 2016, a draft bill of program law was submitted to the Belgian parliament and it contains the tax measures, including an increase of the standard withholding tax rate on dividends, interest and royalties from 27% to 30%. The measures
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