Malaysia- issues filing program for calendar year 2014
The Inland Revenue Board of Malaysia has issued the filing program for 2014: Non-corporate entities: Form Deadline period for submission Form E – Return Form of Employer 31 March 2014 hand
See MoreUS: IRS Mentions Smooth Start to Tax Filing Season
The United States Internal Revenue Service (IRS) recently announced that it had received one-third of the individual income tax returns it had expected to receive during the whole 2014 filing season in the first three weeks. During each week in this
See MoreSingapore: over 1.2m Taxpayers Need Not File Returns
The tax filing season in Singapore started on March 1, 2014. Around 1.23m taxpayers will not need to file a return, as more people benefit from the Inland Revenue Authority of Singapore's (IRAS) No-Filing Service (NFS). Taxpayers who have been
See MoreIndia: Income Tax department identifies 2.17 million potential non-filers
After sending notices to 1.21 million Permanent Account Number (PAN) cardholders who had not filed their income tax returns, the income tax department has now identified another 2.17 million potential non-filers. It had already sent letters to
See MoreGerman federal state of NRW will issue new tax assessments to taxpayers to clarify their actual tax burden
From March 2014, the German federal state of North Rhine-Westphalia (NRW) will issue new tax assessments to taxpayers to clarify their actual tax burden for 2013, expressed as a percentage of gross income. The tax assessments will provide details of
See MoreFrance- Bank Account Regularization Requests
Almost 16,000 residents with undeclared foreign bank accounts have elected to regularize their tax situation in the last eight months, through a voluntary declaration of non-compliance. As of February 7, 2014 the tax authorities had received 15,813
See MoreCyprus to cut tax appeal waiting time
Cyprus's Justice Minister has promised that a new Administrative Court due to open in September will cut the waiting time for tax appeals. Tax cases currently take two years to process in the Supreme Court, but the time required to hear a case will
See MoreChile: New tax reporting format
The tax authorities have provided a new reporting format for the declaration that Chilean individuals and foreign individuals that have been domiciled or resident in Chile for more than 3 years must file a return by 19 March 2014 to report foreign
See MoreBelgium – Resident companies must file their corporate tax returns electronically
On 14 February 2014 a royal decree was published requiring resident companies to file their corporate tax returns electronically as from tax year 2014. E-filing will be mandatory for nonresident companies as from tax year 2015. An exception will
See MoreSouth Africa: Revenue Service increases Transfer Duty Refund System
The South African Revenue Service’s (SARS’s) will not process manual requests for Transfer Duty refunds after February 17, 2014. This is follows introduction of electronic submission for Transfer Duty declarations and an e-Account for Transfer
See MoreColombia – New form for reporting withholding tax information
Colombia’s tax administration has recently released a new form to be used to make monthly information reporting of withholding tax. Form 350 reflects changes from the prior version of the form. Changes contained in the new form include a
See MoreNetherlands: New Decree on substance requirements enters into force
From 1 January 2014, a new Decree entered into force which codifies the existing administrative guidance on substance requirements for companies engaged in inter company financing and/or licensing activities. Now, Dutch companies that claim the
See MoreItaly: Financial Transaction Tax (FTT) annual return model published
The Italian tax administration has issued the final Financial Transaction Tax (FTT) annual return model and the related instructions under Protocol No. 2013/154577. The FTT return should be filed by 31 March of every year, subject to a de minimis
See MoreIndonesia-temporary tax payment relief
A new regulation providing a temporary cash flow relief for some taxpayers has been issued by The Ministry of Finance of Indonesia. The regulation is intended to sustain the positive cash flow of certain taxpayers for creating stable macro economy,
See MoreUK: Judicial decisions on capital allowances
The Upper Tribunal rejected an appeal from HMRC against a capital allowance claim in a recent decision involving Lloyds TSB Equipment Leasing. The claim related to finance leases in relation to two liquid natural gas (LNG) vessels that were leased
See MoreChanges in e-Filing Tax Payments in South Africa
E-filing on debt pull transactions will be eliminated from September 4. The SARS disclosed that the procedure will take place over one month after an alert message will appear on e-filing, where a debt pulls transactions is no longer available.
See MoreCanada – Amendments in foreign income verification statement
It has been officially confirmed by the Canada Revenue Agency (CRA) that the revised Form T1135 applies to tax years ending after June 30, 2013 whereas the old form T1135 (Foreign Income Verification Statement) will still be approved for tax years
See MoreArgentina – Mandatory online tax return system
From 1 August 2013 is has become compulsory for every Argentine taxpayers to use the online tax return system (SIFERE) to report gross revenue to local jurisdictions. Resolución General 7 was published in the official gazette on July 23, 2013 which
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