Norway releases 2014 Budget

18 December, 2013

On 14 October 2013 Norway released the 2014 Budget with proposals on new interest deductibility restrictions and reduction of the corporate income tax rate. The Budget includes proposed significant restrictions on the deduction of interest paid to

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Netherlands Welcomes Court Ruling on Business Succession Tax Break

18 December, 2013

The Netherlands Supreme Court has ruled in recent proceedings that the country's business succession rules, provided for in the inheritance and gift tax law, are not contrary to the principle of equality. Under Dutch business succession regulations,

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Vietnam – Transfer pricing audits based on risk profiles

18 December, 2013

Vietnam’s General Department of Taxation published transfer pricing audits on 18 December 2013, throughout a number of provinces, and selected some textile, garment, and footwear companies based on transfer pricing risk assessment profiles. The

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Netherlands – New transfer pricing decree unifies rules

18 December, 2013

The Dutch Deputy Minister of Finance has issued a new decree that generally unifies and clarifies prior transfer pricing guidance, and withdraws and cancels prior decrees from 2001 and 2004. The new decree is effective from 27 November 2013. The

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Luxembourg: Rejection of a tax on FTT

18 December, 2013

A recent report confirmed that Luxembourg’s clear rejection of a tax on financial transactions (FTT). Luxembourg will carry on ruling out the idea of such a tax, as currently envisaged by eleven EU member states, within the structure of enhanced

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Switzerland: Revise withholding tax regime

18 December, 2013

It was reported that the Swiss Federal Council has introduce a consultation plans to review the imposing of withholding tax at source on income acquire from “lucrative” activity on 18 December 2013. Plans to modify the federal laws governing the

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Malta: VAT 2014 changes approved

18 December, 2013

It was reported on 18 December 2013 that the Maltese budget for 2014 has been approved by Parliament. It includes a small number of changes to the VAT penalties and compliance regime, including: There will be no penalties for late filings of

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France – Status of Transfer pricing proposals in the Draft Finance Bill for 2014

18 December, 2013

The French Senate rejected part 2 of the draft finance bill for 2014 on 16 December 2014. The bill is scheduled on 19 December 2013 for a final consideration. The draft bill changes the penalty provisions for those taxpayers who fall under article

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Chile- Combine tax treatment of corporations and partnerships

18 December, 2013

Chile's tax administration has issued several guidelines on December 18, 2013 for measuring income tax related to corporations and partnerships. These measures also include some treatments for employee benefits. Ley 20.630, which considered both

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Morocco: International Tax Dialogue To Making Fiscal Reorganization Work

17 December, 2013

A meeting of tax administrators from more than 95 countries throughout the world has been discussing the distribution of taxing powers between different levels of government. The global conference of the International Tax Dialogue in Marrakech,

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India: Clarifies conditions of service tax amnesty

17 December, 2013

The Indian Finance Ministry has wanted to clarify concerns over its Service Tax Voluntary Compliance Encouragement Scheme (VCES) by commenting on issues raised by industry representatives. The Finance Minister recently settled a series of

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Hungary- Extension to Family Tax Break

17 December, 2013

The tax incentive regime for employers of parents with small children has been extended in Hungary. The Employment Minister has announced plans regarding this. According to the new plan an employer of parent having at least three small children will

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New Grand Coalition of Germany Ruled out Tax Rises

17 December, 2013

German Chancellor Angela Merkel’s ruling Christian Democratic Union (CDU) party has finally signed a coalition agreement with the Social Democrats (SPD), in which both parties pledge their commitment to no new debt or tax rises, as well as to

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Germany: Enormous number of Voluntary Tax Declarations

17 December, 2013

The number of voluntary tax declarations received by the German tax authorities submitted by German residents so far this year is already more than doubles the 2012 total. It has been reported by the business newspaper Handelsblatt based on

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France: Independent Worker Union Criticizes Corporate Land Tax Reform

17 December, 2013

The government of France proposed reform to the corporate land tax contribution (CFE) under the framework of the finance bill of 2014- PLF 2014. But the independent worker union UNAPL has strongly criticized the proposal. The PLF 2014 presents

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Cyprus disagree with OECD forum report regarding “Non-Compliant” Tax Rating

17 December, 2013

The OECD forum released a compliance ratings report on Tax Transparency and Exchange of Information assessing the legal and regulatory frameworks in the jurisdiction and how these are executed. The meeting was held in Jakatra focusing 50

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Canada – Venture Capital Tax Credit has phased out

17 December, 2013

The Canadian Government is negotiating on a series of draft legislative proposals for the orderly phase-out of the federal Labor-Sponsored Venture Capital Corporations (LSVCC) tax credit. LSVCCs are a type of mutual fund corporation, sponsored by

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Canada has perfectly managed Liechtenstein’s tax information

17 December, 2013

The Canada Revenue Agency (CRA) managing this data was reviewed as part of the Auditor General's fall 2013 report. The office has examined whether the agency perfectly conducted compliance activities for those listed under the Liechtenstein bank,

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