Cyprus 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 MoreUS – Increase in Tax Return Filings
The Internal Revenue Service (IRS) has announced that filings of tax returns in the United States 2014 individual income tax season have increased by comparison to filings for the same period in the previous year. As of February 7, the IRS had
See MoreUS: IRS Publishes Updated Tax Guide for Aliens
The US Internal Revenue Service has released a revised United States Tax Guide for Aliens, providing guidance for resident and nonresident aliens for use in preparing their 2013 tax returns, and, in particular, how to determine their residence
See MoreUS: Internal Revenue Service (IRS) opens 2014 Tax Season
The US Internal Revenue Service (IRS) opened the 2014 United States filing season for individuals on January 31, highlighted a growing selection of online services, and encouraged taxpayers to check out a variety of tax benefits, such as the Earned
See MoreItaly: Law Decree published regarding voluntary disclosure procedure
On 29 January 2014 Law Decree No. 4 of 28 January 2014 was published in the Official Gazette. This Decree provided clarifications with regard to the voluntary disclosure procedure. The Law Decree entered into force also on 29 January 2014 and will
See MoreArgentina: Court Decision on withholding tax on commissions paid
Argentina’s Supreme Court has ruled that commissions paid by Argentine borrowers are Argentine-source business income and subject to withholding tax. The case was Hidroeléctrica El Chocón SA c/ DGI where Hidroeléctrica El Chocón (HEC), paid
See MoreHong Kong: Lower Tax for Captive Insurers
The amended Inland Revenue bill (No.3) 2013 has been gazetted by the Hong Kong Government, aiming to reduce by half the profits tax on captive insurers, and to increase the deduction ceiling for retirement scheme contributions by employees or
See MoreTaiwan: Worried At Non-Declaration of Property Income
Recently, Taiwan’s National Taxation Bureau (NTBT) published that the requirement to announce, on an income tax return, profits for an off-plan property transaction cannot be escaped non-residents is involved. They also specified that, even any
See MoreUS 2014 tax season to open on January 31
The United States Internal Revenue Service (IRS) has declared that it plans to open the 2014 tax filing season on January 31 instead of the original opening date of January 21. The new opening date for individual to file their tax returns for 2013
See MoreCzech Republic – Changes regarding tax and insurance premiums
In the Czech Republic, under changes that are effective in 2014, employers will need to ready new rules regarding the taxation and insurance premiums in respect of employees. Again, there are changes to the social and health insurance premiums for
See MoreItaly: Duration of advance payment of income tax extends
The Government of Italy increased the advance income tax payment due for fiscal year 2013 and delayed the deadline for the payment of the second installment via Law Decree 133/2013 dated 30 November 2013. The increase of overall advance payment due
See MoreArgentina –Increment of Social Security Salary Thresholds
The government of Argentina has increased the salary limits on social security contributions. Effective from September 2013, the new gross monthly maximum and minimum salary thresholds for calculating employees’ social security contributions are
See MoreBelgium: Extension of tax-on-web filing deadline
The deadline for filing individual income tax declarations via the Finance Ministry’s Internet portal tax-on-web is extended. And it is published by the Belgian Ministry of Finance. And, until October 31, 2013 the tax-on-web filing deadline will
See MoreBelgium: Expanding the list of compensation subject to social security
Recently, a royal decree has been published in Belgium, altering the social security regime for certain out-of-service compensation from 1 October 2013. The range of compensation subject to social security contributions has been broadly extended.
See MoreUK: Alternative Dispute Resolution for Large Taxpayers
An evaluation of the pilot project on alternative dispute resolution (ADR) for large taxpayers has been published by the HMRC. The pilot, run by HMRC’s Dispute Resolution Unit, looked at the effectiveness of using ADR techniques in large and
See MoreSwitzerland: Tax resolution for Second-Tier Banks
Switzerland has approved the terms of a proposed settlement with the United States announced on 28 August 2013 regarding the exposure of tax information of US citizens with funds in Switzerland. This agreement would allow Swiss banks not currently
See MoreSwitzerland agrees plans for settling US Tax conflict
The Federal Council of Switzerland has agreed to plans for reconciling the Confederation’s tax conflict with the US. The Council of the Federal Finance Department has established a mutual statement designed to draw a line under past dispute over
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