Revised Tax Plan by Dutch Second Chamber
The Dutch government's 2013 tax plan has been adopted by The Dutch Second Chamber, of fiscal measures including plans to introduce a so-called "lessors’ tax" in 2013; to increase the insurance premium tax; and to introduce new rules applicable to
See MoreMeasures on Business Centers passed
The Bill on Measures for Asian Business Centers was passed by the Diet on 27 July 2012. This measure is intended to encourage global companies to establish their R&D centers and Asian headquarters in Japan. The legislation grants incentives
See MoreHungary-Tax Law changes for 2013
On 12 October 2012 a bill introducing the 2013 "tax package" was introduced into the Hungarian Parliament. Further amendments to the package were proposed on 18 November and on 29 November 2012 the changes for 2013 were published in the Official
See MoreWithholding Tax on Dividends-new Danish Anti-Avoidance Rules applies from 2013
The Danish Ministry of Taxation presented a bill containing anti-avoidance rules regarding withholding tax on dividends. The purpose of the Draft Bill is to adjust certain unplanned consequences of the current rules. If adopted this bill applies
See MoreNetherlands Bill Softens Exit Tax Rules
It was reported on 17 December 2012 that the Dutch Second Chamber has recently approved a bill submitted by the Financial State Secretary amending existing legislation pertaining to exit tax. The bill provides companies electing to relocate abroad
See MoreThe Malaysian Budget for 2013
The Malaysian Budget for 2013 was presented by the Prime Minister (also the Finance Minister) on 28 September 2012 and is generally effective from year of assessment 2013 unless otherwise stated. Key points of the budget are summarized
See MoreItalian Law Decree aims at incentives for start-up companies
The Italian Government has approved Law Decree, No. 179 of 18 October 2012, which has been published in Official Gazette No. 194. The Decree introduces incentives for innovative start-up companies, to encourage economic growth. For the first time
See MoreIndonesia – Potential changes to the transfer pricing regulations
The Director General of Taxation of Indonesia has recently focused on transfer pricing, proposing some changes to the existing transfer pricing rules. However, these proposals are not yet final and some changes may be made before the final issuance
See MoreBelgium: Agreement on tax measures for budget 2013
The Federal Government of Belgium has recently come to an agreement on the tax measures in the Budget 2013. This includes changes to the corporate tax rate and the withholding tax rate. There are also some indirect tax measures but those are not yet
See MoreAustralia – Proposed amendments of transfer pricing rules
The Australian Assistant Treasurer has recently Tax Laws Amendment (Cross-Border Transfer Pricing) Bill 2013: Modernization of transfer pricing rules,in which changes to transfer pricing rules were proposed. The new law focuses mainly on
See MoreIrish Revenue announces transfer pricing compliance monitoring approach
On 6 December 2012 it was published that the Irish Revenue released guidance on 26 November 2012 setting out how they are proposing to monitor transfer pricing compliance in accordance with Part 35A of the Taxes Consolidation Act 1997 The guidance
See MoreFrench Committee Adopts Supplementary Finance Bill
On 4 December 2012 it has been published that the French National Assembly Finance Committee has recently adopted the country’s 2012 supplementary finance bill, which constitutes a key stage in the government’s overall plan to strengthen the
See MoreBrazil Provisional Measure 6272013 – CFC rules for resident individuals introduced
On 4 December 2013 it has been published that the Provisional Measure 627/2013 (PM 627/2013), introduced important changes to the Brazilian tax legislation. This was published in the Official Gazette of 12 November 2013. Among those changes, PM
See MoreGerman Bundestag Adopts 2013 Budget
The German Bundestag, or lower house of parliament, has recently adopted the government’s 2013 federal budget, providing for a reduction in the pension insurance contribution by 0.7% to 18.9%, and for the abolition of the highly unpopular practice
See MoreChina opposes European Union (EU) emissions tax
The European Union's (EU) tax on non-EU international airlines for their carbon emissions has once again come under fire from China. China's chief negotiator to the ongoing United Nations climate change talks, Xie Zhenhua, has said that while China
See MoreGermany announces further tax revenue growth
Although Germany’s federal government and states will undoubtedly welcome news of additional tax revenues recorded in October, last month’s increase is significantly less than in previous months, due notably to a weakening economy. In its
See MoreTaiwan Announces Income Tax Cuts
It has been published on 28 November 2012 that the Ministry of Finance has announced that, because of the inflation linkage within Taiwan's tax code, individual income tax thresholds and brackets will be increased automatically next year. As
See MoreUK Announces New Anti-Avoidance Tax Forces
On 22 November 2012 it was reported that the UK tax authority, HM Revenue and Customs (HMRC) has announced specialist task-forces to tackle tax avoidance in the UK clothing trade, alcohol industry and rental property sector, expected to recover
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