Ecuador announces new tax incentives
The National Assembly of Ecuador issues a draft bill with number of following new tax incentives: 8-year tax exemption for investments in Quito and Guayaquil; 10-year tax exemption for investments in priority activities outside of Quito and
See MoreGreece: Law 4549/2018 publishes in official gazette
The Law 4549/2018, Provisions for the Completion of the Agreement on Budgetary Targets and Structural Reforms - Medium Term Financial Framework 2019-2022 and other provisions, was published in the Government Gazette with the prerequisites of the
See MoreBelgium issues a draft bill to introduce some tax measures
On 11 June 2018, a draft bill was submitted to the parliament to complete and amend the corporate income tax reform of 2017. The bill contains a new anti-abuse provision for notional interest deduction (NID) and clarifies that the reduction of
See MoreTanzania: Finance Minister presented 2018-19 Budget
Tanzania: Finance Minister presented 2018-19 Budget 19 June 2018 The Minister of Finance and Planning, Hon. Dr. Philip I. Mpango, presented the 2018/19 Budget on June 14, 2018 to the national assembly. Some key points of the budget are given
See MoreBelgium issues a FAQs on MAP and APA
On 23 May 2018, the Public Federal Service (SPF) of Belgium published a document of FAQ on Mutual Agreement Procedure (MAP) and the Advance Pricing Agreement (APA) procedure. The assessee may also request that the tax due in Belgium is not invoiced
See MoreDanish Government adopts the PE rules amendments for pass-through entities
On 9 June 2018 Denmark adopted Law No. 725 of 8 June 2018 provides for amendments to the permanent establishment (PE) rules with respect to investments made in Denmark through transparent entities. The amendment excludes foreign investors making
See MoreDanish Government adopts Law on R&D deductions
On 9 June 2018 Denmark adopted Law on R&D Deductions in the Official Gazette. Law No. 722 of 8 June 2018 provides for an increase in the allowed deduction for R&D from the prior 100% to: 101.5% for the 2018 and 2019 tax years; 103% for
See MoreAngola: President approves new tax regime for natural gas
On 18 May 2018, the President approved the Decree No. 7/18 which outlined new legislation for the development of marginal fields, the creation of a regulatory body for fuel products and natural gas rights. For marginal fields, which the law defines
See MoreBrazil: Maximum tax refund reduces for exporting companies
Brazil has published Decree No. 9.393 of 30th May 2018 in the Official Gazette, which amends Decree No. 8,415, of February 27, 2015, which regulates the application of the special regime for the Reintegration of tax values for exporting
See MoreSweden: Parliament approves draft bill regarding corporate income tax changes
On 14 June 2018, the Swedish Parliament approved the bill introducing new tax rules for the business sector. The bill includes following measures: A reduction in the corporate tax rate from 22% to 21.4% in 2019 and 2020, and to 20.6% from 2021;
See MoreKazakhstan signs MCAA
On 12 June 2018, Kazakhstan signed the Multilateral Competent Authority Agreement (MCAA) on the automatic exchange of Country-by-Country (CbC) reports. Kazakhstan has not yet activated the CbC MCAA in accordance with OECD’s
See MoreAustralia updates international dealings schedule for 2018 tax year
The Australian Taxation Office (ATO) has released the 2018 International dealings schedule (IDS) and their instructions for 2018 tax years. The IDS must be lodged by businesses that provide a response at the trigger questions of the relevant
See MoreBrazilian government adopted several measures regarding incentive in certain sectors
Brazil has published Law 13.670 of 30 May 2018, which was enacted to reduce the number of activities of companies that may continue calculating the social security contributions upon gross revenues of services and/or products. The law includes a
See MoreAustralia updates guidance on R&D tax offsets
The Australian Taxation Office (ATO) has published updated guidance concerning the rate of the Research and Development (R&D) tax offset and whether it is refundable under the R&D tax incentive. If aggregated turnover is less than AUD
See MoreIreland: New guidelines on TP compliance
On May 28, Irish Tax and Customs updated Tax and Duty Manual Part 35A-01-01 to set out the government’s approach to monitoring compliance with transfer pricing legislation contained in Part 35A of the Taxes Consolidation Act 1997. The new
See MoreBangladesh: Income Tax Proposal in Fiscal Budget 2018-2019
Finance Minister Mr. AMA Muhith presented the FY2018-19 national budget to parliament on 7th June 2018. Except for a minor downward tweaking of the corporate tax rate, and some small increases in tobacco taxation and supplementary import duties, no
See MoreGermany: The CJEU decision permits deviations from the arm’s length principle
On 31 May 2018, the Court of Justice of the European Union (CJEU) issued its decision in the case of: C-382/16 Hornbach-Baumarkt that a parent company’s position as a shareholder of a non-resident company may be taken into account in
See MoreJapan: Diet passes Bill on the Multilateral Instrument (MLI)
On May 18, 2018, the Japanese legislature passed the Bill on the Multilateral Instrument (MLI). This means that Japan has completed the national process of ratifying the MLI. The next step is for Japan to deposit its instrument of ratification,
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