IMF recommends that Ukraine postpone its plan to implement lower tax rates in 2014
According to a Ukrainian government press release issued on 28 October 2013, delegates from the International Monetary Fund (IMF) have recommended that Ukraine postpone its plan to implement lower value-added tax rates and income tax rates in 2014.
See MoreHungary – Proposed year-end tax law changes
The Minister of the National Economy of Hungary has submitted to the Parliament the year-end proposals of tax law changes of the government. The proposed changes to the tax law include changes to the rules of permanent establishment so that
See MoreGermany – VAT groups
The federal tax court of Germany (Bundesfinanzhof – BFH) has changed its position on the rules for organizational integration of companies into value added tax (VAT) groups. As per the BFH, a consequence of a “merger into a single taxpayer” as
See MoreGermany – Discovering recipients of deductible payments
The federal tax court of Germany (Bundesfinanzhof – BFH) has held that the tax authorities may require taxpayers to identify the recipients of payments that are deducted as businesses expenses. Otherwise, the tax deduction can be
See MoreGermany-Switzerland Tax Deal: SPD Open to stimulating the Agreement
It has been published on 4 November 2013 that, Germany’s Social Democrats (SPD) have indicated that the party might be prepared to renegotiate the bilateral tax agreement concluded with Switzerland, aimed at resolving the longstanding issue of
See MoreEgypt – Increase of the Personal Income Tax Threshold
The Finance Ministry of Egypt announced on 22 October 2013, that the annual personal tax exemption limit will be increased from 4,000 Egyptian pounds ($580) to 7,000 Egyptian pounds ($1,015) which aims to motivate the national economy and stunned
See MoreEuropean Court of Justice (ECJ): Taxpayer rights in respect of a request for information
The following questions were put to the European Court of Justice (ECJ) by the Czech Supreme Administrative Court on 4 June 2012 relating to taxpayer rights in respect of a request for information. The European Court of Justice determined that EU
See MoreDenmark publishes proposed exit tax rules
The Danish Minister of Taxation published a draft bill on 7 October 2013, which amends the rules on exit taxation. The draft bill was the European Court of Justice (ECJ) decision of 18 July 2013, where Danish exit taxation rules were held to be
See MoreColombia: Decree Listing Tax Havens
Colombia’s Ministry of Finance and Public Credit on 7 October 2013 issued Decree 2193. That Decree includes a list of the countries, jurisdictions, domains, associated states or territories which are tax havens for tax purpose. Jurisdictions like
See MoreChina: Enterprise income tax treatment from technology transfers
The State Administration of Taxation (SAT) of China issued a bulletin which states that revenues from technical advice, technical services and technical training, in relation to technology transfers will be included under the enterprise income tax
See MoreChina: Circular providing tax breaks for eligible enterprises for Government-led shanty town renovations
The Finance Ministry of China on 28 October 2013 released a circular that announced tax breaks for eligible enterprises that are involved in government-led shanty town renovations. This is part of an effort to encourage participation in the
See MoreCanada – Tax credits temporarily refundable in Quebec
The Quebec government declared three new temporary repayable tax credits. Individuals who investing in “eco-friendly” renovation work these temporary tax credits are for them. Certain corporations that acquire, or add to, buildings applied in
See MoreCanada – QST changes in Quebec
A business with total taxable supplies and those of the business' associates exceed $10 million for the preceding fiscal year is considered as large business. The Quebec Revenue recently published extra information regarding the upcoming repeal of
See MoreCanada – Legislation Implementing Tax Measures from Budget Plan
The Canada’s Federal Budget Bill contains measures from the 2013 federal budget including: Introduction of new administrative financial penalties and criminal offences to deter the use, possession, sale and development of electronic suppression
See MoreBrazil’s Tax Treatment on shared costs
Brazil’s tax authorities published guidance concerning the treatment of social contributions and it related to expenses and cost shared by the taxpayer groups, on 29 October 2013. It is intended to clarify the treatment and apportionment of PIS
See MoreSignificant Changes to Brazilian Tax Legislation
The Brazilian Ministry of Finance has announced significant changes to the way it will tax profits sourced from abroad, on 18 October 2013. The stated aim is to increase the competitiveness of Brazil as a business location and bring it into line
See MoreBelgium: Tax simplification bill
The Belgian Council of Ministers has given approval of the tax simplification bill. According to the bill, any individual for signing a contract last year for the construction of a low energy home will benefit from the tax reduction applicable for
See MoreBelgium: Audits on corporate withholding tax
The Finance Ministry of Belgium has unveiled plans to tighten the rules next year for companies which fail to settle their professional wage-withholding tax obligations for compensation paid out to company directors. The requirements are not being
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