UN: High-Level Dialogue on Financing for Development
On 20 September 2023 the UN held a high-level dialogue on financing for development, including a session on Promoting inclusive and effective international tax cooperation and mobilizing domestic resources. Keynote addresses were given by the
See MoreSouth Africa: SARS updates interest rate tables
The South African Revenue Service (SARS) has recently released updated interest rate tables updated on 14 March 2022. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, i.e. – Table 1:
See MoreSouth Africa: SARS updates interest rate tables
On 18 January 2022, the South African Revenue Service (SARS) published updated interest tables. The South African Reserve Bank changed the “repo rate” on 27 January 2022. For ease of reference, the tables of interest rates are given below in
See MoreOECD: Tax Administration Privacy, Disclosure and Fraud Risks
On 26 May 2020 the OECD Forum on Tax Administration (FTA) published a document entitled Tax Administration: Privacy, Disclosure and Fraud Risks Related to COVID-19. Tax administrations are introducing measures to support taxpayers in the current
See MoreMexico: Congress approves legislation considering tax fraud as organized crime
On 15 October 2019, Mexico’s Congress has passed legislation considering tax fraud as organized crime. Purchase or sale of false tax invoice, unlawfully obtains a tax subsidy, fails to include accrued income in a tax return or fails to remit VAT
See MoreItaly: Manual for Tackling Tax Evasion and Fraud
The Italian Tax Police updated its practical instructions regarding performance of tax audits by releasing the Circular n. 1/2018 i.e. the operational manual for tackling tax evasion and fraud, which was later on updated on 1st December, 2017 and
See MoreJersey: Tax disclosure opportunity for the year 2017 announces
The Treasury and Resources Department offers and runs a tax disclosure opportunity from 3rd April 2017 up to the end of 2017. This describes Islanders will be able to tell the tax office if they’ve made a mistake or failed to declare accurate
See MoreCosta Rica: Government introduces law against tax fraud
Costa Rica enacted a law against tax fraud which was approved on 12 December 2016 and published in the Official Gazette on 20 December 2016. The new law is important for better administration and collection of taxes, and for combating tax
See MoreMauritius: Budget for 2016-2017 with respect to tax management
The Minister of Finance delivered the Budget speech for 2016-17 to the parliament on 29 July 2016. The most important measures with respect to tax management are summarized below. –The Mauritius Revenue Authority (MRA) Act will be amended so that
See MoreHungary: Tax amendments approved by parliament
The parliament of Hungary approved a bill on 17 November 2015 establishing some additional amendments to the country's current tax system. According to the approved bill a classification system will be introduced and companies will be classified as
See MoreFrance: Intergroup services marked out in tax-avoidance transactions list
The French tax administration has recently published an updated list of abusive practices and fixtures that are considered to be contrary to the law. Among these are certain inter-group arrangements. Relocation of profits after restructuring:
See MoreSwiss Bankers Ask France to Increase Amnesty Uptake
The President of the Swiss Bankers Association (SBA), has suggested that France should extend and enhance its tax regularization facility to allow more taxpayers to make a voluntary declaration to normalize their tax affairs. At the moment the
See MoreUruguay: Tax penalties increased
Decree No. 402/013, was published in the Official Journal (Diario Oficial No. 28,870) on 23 December 2013. This increased the penalties on tax infringements and such penalties applicable as from 1 January 2014 will range from a minimum of UYU290 to
See MoreVietnam: Decree on tax penalties
Vietnam has released a new Decree on 16 October 2013 on tax penalties along with the amended law on Tax Administration, which specifies tax administrative procedures. The Decree becomes effective on 15 December 2013 and applies to any violations
See MoreBelgium – Clamping down on tax evasion and tax fraud
There has recently been concern internationally about tax evasion and fraud, and many countries have increased their efforts to trace income of their residents that has been illegally concealed in tax havens in an attempt to evade taxes. As a result
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