Hong Kong: BEPS MLI enters into force
On 16 September 2022, OECD has published the update list of signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for
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OECD: Impact of the International Academy for Tax and Financial Crime Investigation
On 22 September 2022 the OECD published an impact assessment of the International Academy for Tax and Financial Crime Investigation, based on an assessment carried out in 2021. The assessment looked at the impact on tax officials and on national tax
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Switzerland suspends tax information exchange arrangement with Russia
On 22 September 2022, the State Secretariat for International Finance (SIF) of Switzerland published a notification declaring the suspension of exchange of tax information with Russia. The temporary suspension applies to all types of tax information
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Netherlands presents tax plan for 2023
On 20 September 2022, the Dutch Budget for 2023 was presented with the tax plan for 2023. The key tax measures of the tax plan for 2023 are following: Increasing in the lower corporate income tax rate from 15% to 19% and the 25.8% headline CIT
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Bulgaria Deposits Instrument of Ratification for MLI
On 16 September 2022, Bulgaria deposited its instrument of ratification of the Multilateral Convention on the Implementation of Tax Treaty-Related Measures to Prevent BEPS (MLI). The Convention will enter into force in relation to Bulgaria on 1
See MoreUkraine clarifies procedures for completing report on controlled transaction
On 19 September 2022, the State Tax Service (STS) of Ukraine clarified the procedure for filling and completeness of submission of report on controlled transactions. STS reminds that in accordance with requirements of Article 39 of the Tax Code,
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OECD: Public Consultation on Amount A of Pillar One
On 12 September 2022 the OECD held a public consultation on the progress report on Pillar One that was released on 11 July 2022 with a request for comments by 19 August 2022. There is currently a deadline of mid-2023 for signing the multilateral
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OECD: Latest Edition of Tax Policy Reforms
On 21 September 2022 the OECD published the latest edition of Tax Policy Reforms: OECD and Selected Partner Economies. This is an annual publication providing comparative information on tax reforms in a number of countries. The latest report looks
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Russia: CBR cuts interest rate again
On 16 September 2022, the Central Bank of Russia (CBR) adopted a decision to cut the key interest rate from 8.0% to 7.5%. The key interest rate is used for the purposes of calculating interest deductions and late payment interest on overdue
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Ireland: Revenue updates CIT return guide for 2021
On 13 September 2022, the Irish Revenue published an eBrief No. 173/22 related to the corporate income tax (CIT) return guide (Form CT1 2021). The Revenue states that 2021 Form CT1 was released on 16 August 2022. CT1 files started in ROS offline
See MoreHong Kong: IRD further extends the lodgement of 2021/22 profits tax return
On 8 September 2022, the Hong Kong Inland Revenue Department (IRD) issued a circular letter to tax representatives extending the lodgement of 2021/22 tax returns to 30 September 2022. Recognising the genuine difficulties being experienced by
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Poland releases ordinance on transfer pricing information
On 13 September 2022, the Polish Official Gazette released Ordinance Nos. 1923 and 1934, clarifying transfer pricing information in the scope of personal and corporate income tax. The ordinances include the following tax measures: Defining the
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Oman introduces tax exemptions for sectors of economic diversification
On 8 September 2022, the Oman Tax Authority (OTA) announced some conditions and procedures for obtaining income tax exemption for companies operating in sectors contributing to economic diversification. The exemption is offered only to companies
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Turkey approves effective date on CAA regarding CbC exchange arrangement with US
On 13 September 2022, the Turkish Revenue Administration issued Presidential Decision No. 6033 in the Official Gazette, through which Turkey has approved the effective date of the Competent Authority Agreement (CAA) to exchange country-by-country
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Malta amends the interest rate on unpaid tax
On 14 September 2022, Malta issued Legal Notice 228 of 2022 on Income Tax (Rate of Interest) (Amendment) Rules, 2022. Accordingly, the date by which the tax is payable in terms of the relevant provisions of the Income Tax Acts is 31 August 2022 or a
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Dominican Republic: DGII Publishes general standard rule on MAP
On 30 August 2022, the Dominican Tax Authorities (DGII) issued a new general standard rule on Mutual Agreement Procedures (MAP) for Dispute Resolution under the country's tax treaties. The general rules introduced details for submitting MAP
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Vietnam
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution more effective) in Vietnam was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes that
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Kazakhstan
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution more effective) by Kazakhstan was published by the OECD’s Inclusive Framework on 13 September 2022. Kazakhstan has a
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