Peru –Amendments to the Income Tax Regulations

27 December, 2013

The department of Economy and Finance of Peru has made some modifications to the country’s existing Income Tax Regulations which are effective from 7 November 2013. According to the amendments a joint responsibility will be imposed on a Peruvian

See More

Nigeria establish TP Division and disclose TP forms

27 December, 2013

Transfer Pricing Division will be accountable for the implementation and administration of the Income Tax Transfer Pricing Regulations No.1 2012 (TP Regulations) and it has build by the Nigeria’s Federal Inland Revenue Service (FIRS). The TP

See More

Netherlands Eyes Key Changes To Financial Market Rules In 2014

27 December, 2013

The Dutch Finance Ministry has announced that a number of key changes to financial market laws and regulations are due to enter into force in the Netherlands from January 1, 2014. The most important legislative changes include plans to impose a

See More

Irish PM considers tax cuts

27 December, 2013

It has been reported on 27 December 2013 that for middle income families the Irish Government will prioritize income tax cuts when there is due scope for change, according to the Prime Minister. There will be no income tax increases in the next

See More

India is expected to post a Revenue Service office in Cyprus

26 December, 2013

India is expected to post a Revenue Service officer in Cyprus early in the new year, just months after it suspended its double tax avoidance agreement (DTAA) with the island. India has set up overseas Tax Units in various countries in an effort to

See More

South Africa delays implementation of GST on foreign digital supplies

26 December, 2013

It has been published on 26 December 2013 that the plans to implement South African GST on digital supplies have been delayed from January 2014 until at least the start of April 2014. In a change to the Taxation Laws Amendment Act, the South African

See More

Slovenia: Modified Individual Income Tax Law enacted

26 December, 2013

It has been confirmed on 26 December 2013 that modified Individual Income Tax Law entered into force on 23 November 2013 in Official Gazette 96/2013. The modifications include a provision that in the case of income that arises under a dependent

See More

Norway and EFTA- changes in respect of customs credit for EEA businesses registered in Norway for VAT purposes

26 December, 2013

It was published on 26 December 2013 that, due to a reasoned opinion from the EFTA Surveillance Authority dated 19 September 2012, the Norwegian VAT representative scheme has already been changed. The changes relate to the removal of the requirement

See More

Brazil: IRS issued dispute resolution ruling on shared services

26 December, 2013

It has been published that, the latest federal administrative case law and contrasting private rulings issued by different sectors across Brazil on 26 December 2013, the General Coordination of Taxation (COSIT) issued an administrative ruling

See More

India – Arm’s length price for sourcing support services

26 December, 2013

The Delhi High Court has held that the Transfer Pricing Officer’s determination of an arm’s length price based on a 5% markup of the “free on board” (FOB) value of goods sourced for a related party’s contract with third parties was

See More

Switzerland: The Federal Council recommend to simplified VAT

25 December, 2013

The Federal Council has published of the total regulatory burden on 25 December 2013 are CHF10bn, CHF1.8bn on business which are directly related to VAT. The Federal Council clarified the VAT system with a uniform tax rate. Switzerland imposes three

See More

Russia: Taxable base for corporate property tax

25 December, 2013

The Russian Ministry of Finance published on 11 December 2013 details of the application of the corporate property tax for immovable property located in Russia and held by a non-resident company, which does not have a permanent establishment in

See More

Canada- Compliance issues regarding indirect tax during 2013-14

24 December, 2013

Many businesses will soon have to consider current changes to the GST/HST to fulfill upcoming tax compliance deadlines such as filing returns, making elections, and remitting indirect taxes though those give taxable profits or pension plans to their

See More

Mexico: Tax Reforms bill published

23 December, 2013

According to a media report Mexico reform tax bill on 23 December 2013, which might affect the direct and indirect taxation of corporate taxpayers, has been published in the country’s Official Gazette, completing the approval procedures. The

See More

Austria:  Chancellor says tax reform is first priority

23 December, 2013

The Austrian Chancellor has clarified that his number one priority is to reform the country’s tax system, as soon as there is scope to do so. The Chancellor highlighted that he will push for the fiscal reform to be financed by wealth taxes. The

See More

Mexican Tax Reforms Gazetted

23 December, 2013

According to a media report on 23 December 2013 Mexico's tax reform bill, which includes measures affecting the direct and indirect taxation of corporate taxpayers, has been published in the country's Official Gazette, completing the enactment

See More

Latvia: changes of VAT code 2014

22 December, 2013

The following changes have been taken place under the Latvian VAT code which will come into effect in January 2014. The requirement to appoint a VAT fiscal representative by non-resident taxable persons is withdrawn. For advertising costs, the

See More

China: VAT pilot program expanded to new industry sectors

20 December, 2013

China’s Ministry of Finance and the State Administration of Taxation jointly issued guidance to expand the value added tax (VAT) pilot program to apply to the railway sector, the postal delivery services sector, and the telecommunications sector.

See More