Poland-OECD: Poland submits MLI instruments of ratification
On 23rd January 2018, Poland became the fourth country to deposit its instrument of ratification for MLI (Multilateral Instrument). The MLI will enter into force once five countries have deposited instruments of ratification. On 8th November 2017
See MoreItaly: Resolution for Exempting Foreign Branches
Pretty hefty amount of complications were found between the content of instructions related to the income tax return for the fiscal year 2016 and the subsequent ITA Protocol of January 28th, 2017 bringing in rules for implementation for the option.
See MoreSlovak Republic: Government approves several tax amendments
The President has signed an amendment to Law No. 595/2003 Coll. on Income Tax on December 20, 2017. Some of the changes are given below: Related party transaction In accordance with the current amendment, the text of the related party definition
See MoreDTA between Armenia and Germany entered into force
On 23 November 2017, the income and capital tax treaty between Armenia and German entered into force after the completion of ratification procedures on both sides. The agreement was signed on 29 June 2016. The treaty provides for withholding tax on
See MoreMalaysia signs the BEPS multilateral instrument
On 24 January 2018, Malaysia signed the OECD Multilateral Convention to implement tax treaty related measures to prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”). At the beginning of 2017, Malaysia announced its
See MoreTaiwan: MoF announces Safe harbor exemption
Taiwan's Ministry of Finance (MoF) announced a “safe harbor” exemption with respect to Master file and country-by-country (CbC) reporting On 11th December 2017. Transfer pricing guidance issued in November 2017 (and known in English as
See MoreOECD: Comments received on discussion draft on mandatory disclosure of CRS avoidance arrangements
On 18 January 2018 the OECD published comments received in relation to new tax rules on the disclosure of common reporting standard (CRS) avoidance arrangements and offshore structures. This follows the issue of a consultation document on the
See MoreIndonesia: CbC Reporting implementing regulations
The Director General of Taxation (the DGT) of Indonesia issued DGT Regulation 29/PJ/2017 (PER-29) concerning implementing regulations on Country-by-Country (CbC) Reporting requirements, effective as of 29 December 2017. PER-29 provides some clarity
See MoreNigeria: Government signs CbCR Regulations 2018 to follow-up MCAA
The Federal Government has signed the Income Tax Regulations or Country-by-Country Reports (CbCR), 2018. The Regulations are part of the implementation plans under Action 13 of OECD’s Base Erosion and Profit Shifting (BEPS) project. This is also
See MoreOECD: International Compliance Assurance Programme
On 23 January 2018 a pilot program was launched in relation to multilateral risk assessment of large multinational groups. The program known as the International Compliance Assurance Programme (ICAP) is a the pilot for a voluntary programme to use
See MoreItaly: New Regulations Imposed on Corporate Income Tax and Regional Tax
The Budget Law came into effect since 1 January 2018 after being published into the Gazette on 29th December 2017. The following regulations have been imposed in the section of direct tax in the Budget Law: Electronic submission of tax returns
See MoreItaly: Manual for Tackling Tax Evasion and Fraud
The Italian Tax Police updated its practical instructions regarding performance of tax audits by releasing the Circular n. 1/2018 i.e. the operational manual for tackling tax evasion and fraud, which was later on updated on 1st December, 2017 and
See MoreItaly: Publication of Income Tax Return Form
An approval was undergone by the ITA on the individual income tax return form and related instructions for the fiscal year 2017 through the issuance of Protocol No. 10793/2018 on 15th January 2018, and the form is available on ITA’s
See MoreItaly: Setting up new rules and regulations on pharmaceutical companies regarding VAT and Paybacks
New rules has been brought on pharmaceutical companies regarding VAT and Paybacks which has been already undergone since 1st January 2018, mostly instructing for the inclusion of VATs in different forms of Paybacks. According to the new rule any
See MoreHungary: Live VAT Invoice Reporting Commencing from July 2018
The Live VAT invoice reporting will be starting from 1st July 2018 as reassured by Hungary in this week, the current domestic sales invoice fillings will be replaced by the new live reporting, however the domestic purchase invoice reporting
See MoreGreece: Government announces tax penalty relief
The Laws naming Law 4509/2017 and Law 4512/2018 have already been officially gazetted. Government offered relief from penalty after enacting these Laws. Greece has provided penalty relief with the enactment of Laws 4509/2017 and 4512/2018. Law
See MoreTaiwan approves the third income tax optimization plan for 2018
Taiwan's legislative Yuan approved the third income tax optimization plan regarding changes for both corporate and individual taxpayers on 18 January 2018. Corporate taxation: The corporate tax rate is raised from 17% to 20% in 2018; Where a
See MoreAngola: Parliament approves draft law on tax and foreign exchange compliance
Recently, Parliament approved a bill on the extraordinary tax and foreign exchange regime that regulates the repatriation of assets held abroad that were not declared in Angola in December 2017. All Angolan nationals residing in the country and
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