Philippines streamlines tax treaty rules for government securities
The Philippines Bureau of the Treasury (BTr) announced in a press release on 5 November 2024 the implementation of a streamlined tax treaty procedure for non-resident investors in Government Securities (GS). This initiative is part of the
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Hong Kong updates EDI lists for tax benefits
The Hong Kong Inland Revenue Department (IRD) updated lists regarding the Qualifying Debt Instruments (QDI) on Monday, 13 May, 2024. The lists include: Qualifying Debt Instruments issued before 1 April, 2018 Short Term/ Medium Term Debt
See MoreColombia approves new Tax Reform Bill 2021
On 14 September 2021, Colombia has approved the new Tax Reform Bill 2021 (Law No. 2155 of 2021) which modifies corporate income tax (CIT), value-added tax (VAT), and tax incentives. The main tax measures of the Tax Reform Bill are as
See MoreColombia submits a new Tax Reform Bill to Congress
On 20 July 2021, the Colombian Executive branch has submitted a new tax reform bill (the Social Investment Act) to Congress. The Bill modifies corporate income tax (CIT), value-added tax (VAT), and tax evasion measures. The main tax measures of
See MoreUS: IRS and treasury issue final regulations on the foreign tax credit
On 2 December 2019, the Internal Revenue Service issued final regulations on the Foreign Tax Credit, a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign
See MoreDTA between Armenia and Germany entered into force
On 23 November 2017, the income and capital tax treaty between Armenia and German entered into force after the completion of ratification procedures on both sides. The agreement was signed on 29 June 2016. The treaty provides for withholding tax on
See MoreIndia: A taxpayer is entitled to foreign tax credit against the MAT liability
Recently, the Bangalore Bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of: DCIT v. Subex Technology Ltd. [ITA No.913 (B) /2013, the court held that, credit for tax paid in a foreign country would be available under Section 90
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