Finland: Companies must submit reports on construction by November 5
Businesses and self-employed operators who are buyers or customers, including housing companies and real must submit their reports for September to the Tax Administration by October 6. Companies must give details on their contracts if the value goes
See MoreUruguay: New tax credit certificate regulations issues
Uruguay has issued Resolutions No. 3,905 and 3,906 on 30th October 2014 for announcing new regulations regarding tax credit certificates. Resolution No. 3,905 establishes that the credit certificates which are authorized (given to the supplier of
See MoreUK: No paper tax returns from November 2014 otherwise a penalty of £100
The deadline for filing paper tax return has passed on 31 October, 2014. HM Revenue and Customs (HMRC) will not receive any paper tax returns from November 2014. Even if you have no tax to pay, or you eventually pay your tax on time, a late paper
See MoreTransfer Pricing Brief: October 2014
Australia Intangible Property-The ATO is increasing the amount of resources devoted to examining business restructurings, marketing hubs and intangible assets.Financial Services- Under Draft Taxation Determination TD 2013/D3 support payments
See MoreSpain: Congress Approves Disputed ‘Google Tax’
Spain's parliament has approved new intellectual property laws that allow news publishers to charge aggregators each time they display news content in search results. This is a reform to the Intellectual Property Law and will come in effect on 1
See MoreIndia: Simplifies immigration procedures for Japanese nationals
The Government of India has simplified the rules on the validity of residential permits and visa/residential permit extension procedures for Japanese nationals travelling to
See MoreVietnam: Decree 91 Introduces Tax Incentives For Manufacturing and Technology
Vietnam’s Decree 91/2014/ND-CP (Decree 91) on VAT and corporate income tax (CIT) will come into effect on 15 November 2014. This Decree updates and clarifies changes made by Resolution 63 in August 2014. The Decree includes provisions on
See MoreOECD: Transfer pricing documentation – Country by Country Reporting
Action 13 of the action plan on Base Erosion and Profit Shifting (BEPS) is concerned with supplying the tax administration with sufficient information to allow them to assess transfer pricing risk. The guidance issued by the OECD in September 2014
See MoreSri Lanka Planning To Cut VAT From 2015
The Government has announced a reduction in VAT in 2015 from 12% to 11%. The proposed reduction came as part of a range of political give a ways ahead of next year’s
See MoreCanada: Family tax cut to be effective instantly
The Prime Minister of Canada has announced tax changes on 30 October 2014 that would give tax savings to families starting in 2014. The initiation of this new family tax cut credit would outcome in tax savings of up to $2,000 for families with
See MoreSlovak Republic: Tax amendments for 2015 has approved by the Parliament
The Parliament of Slovak Republic has approved the proposed changes regarding the Income Tax Act on 30th October 2014 and it is to be in effect from 1st January 2015. The amendments are basically held on thin capitalization rules, local transfer
See MoreRomania: Prime Minister Confirms To Keep Flat Tax Regime
Prime Minister, Victor Ponta has reconfirmed that the country’s flat corporate and personal income tax rate of 16 percent will remain in place at least until the next government elections in 2016. Ponta gave the assurances at an awards ceremony
See MoreUS: IRS Reminds To US Tax Preparers For PTIN Renewals
The Internal Revenue Service has reminded the nation’s more than 690,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTINs) for 2015, since the current PTINs will expire December 31, 2014. IRS
See MoreSri Lanka: Govt. Imposes Land Transaction Tax On Foreigners
Foreigners will only be able to purchase land in Sri Lanka through long lease agreements and purchases will be subject to payment of a land lease tax (LLT), under the Land (Restrictions on Alienation) Act. According to current regulations which have
See MoreSri Lanka: Government Intends to Reduce Tax In “2015 Budget”
Sri Lanka's President, Mahinda Rajapaksa, in his additional role as the Minister of Finance and Planning, presented Sri Lanka's 2015 Budget on October 24, 2014. The Government plans to to stimulate the country's further economic development through
See MoreNigeria: VAT free services for stock exchange commissions
According to a current order in Nigeria, stock exchange commissions are free from value added tax (VAT). The order was publicly presented on 27 October 2014. Besides, the effective date of the VAT exemption is 25 July 2014 and it is effective for a
See MoreIsrael: Details of Budget for 2015
The government has approved the 2015 Budget proposal on 7 October 2014, which will now be transferred to the parliament for its enactment. A 10% tax rate would be charged on payments to illegal immigrants. Payments regarding conclusion of service
See MoreCourt decides that the provision of tax treaties between Germany & Russia do not obstruct the application of thin capitalization rules
The Federal Arbitration Court of the Moscow decides that the provision of tax treaties between Germany & Russia do not obstruct the application of thin capitalization rules. The Federal Arbitration Court of the Moscow Circuit (FAC) decided in
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