Jersey: Budget for 2017 has been presented
The Treasury and Resources Minister has presented the draft budget 2017 on 18th October 2016. The main tax proposals are given below: Corporate Taxation From previous record, unilateral tax relief has been granted by the Comptroller under a
See MoreKazakhstan: Capital gains resulting from transfer to charter capital of legal entity are exempted
The State Revenue Committee published a press release on 1st April 2016 describing the amendments to the taxation of property transactions conducted by individuals. According to the release, the amendments were introduced by Law No. 412-V of 18
See MoreVenezuela: Increase in value of tax unit gazetted
Resolution SNAT/2016/011 was issued by the National Integrated Service for the Administration of Customs Duties and Taxes on 11th February 2016 and has been published in the Official Gazette. The Resolution increases the tax unit value (TU) from VEF
See MoreUruguay-Proposed Budget Bill for 2015-19
Uruguay’s government has submitted to the Congress the Bill of the National Budget for the years 2015 up to 2019 on 31 August 2015. If enacted the bill would make significant changes to the tax laws. According to the proposal, income derived from
See MoreChile: Reporting process of indirect transfer of shares published
The Resolution No. 65 has been issued on 30th July 2015 and published on the tax administration's website. As described under article 10 and paragraph 3 of the Income Tax Law on about the indirect transfer of shares, this resolution controls
See MorePeru: Amendments to income tax regulations related to financial derivatives and tax basis on indirect transfers of Peruvian shares
In Peru changes have been made to the income tax regulations regarding financial derivatives and the tax basis on indirect transfers of Peruvian shares through Supreme Decree No. 088-2015-EF on 18 April 2015. The changes became effective as from 19
See MoreNigeria: Reduction of taxes on transfer of property
The Lagos State Governor has issued Executive Order No. EO/BRF/001 of 2015 on 5th January 2015, which decreases taxes on transfer of property in Lagos. This order decreases the fees and charges payable for processing Governor's consent in respect of
See MoreHong Kong Reviews Efficacy of New Stamp Duties
The Legislative Council in Hong Kong recently requested information to enable it to assess the effect of tax changes that were brought in to ensure that the housing market did not overheat. These measures included the Special Stamp Duty (SSD)
See MoreHong Kong: Stamp Duty Increases Affect Property Sales
Increases in the rates of existing ad valorem stamp duty for both residential and non-residential property transactions appear to have cooled the real estate market. The Government increased such taxes from February 23, 2013 for that goal and it
See MoreHong Kong: Tax laws introduced for Islamic Finance
The Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment) Ordinance 2013 was gazetted and came into operation on July 19, 2013 in Hong Kong. It amends the Inland Revenue Ordinance and Stamp Duty Ordinance to provide a
See MoreTaiwan: Change to tax on gains from share transfer
Taiwan government passed the amendment to the Income Tax Act on 25 July 2013 about the taxation of gains arising from share transfers by individuals. Under this modification, no income tax will be obligatory on gains from share transfers even if the
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