Netherlands – Dutch taxpayer liable for Swiss captive subsidiary’s profits
A recent decision by a district Court in the Netherlands involved a Swiss captive insurance company that did not have any employees. The Court reached the decision that the tax authorities in the Netherlands were correct in levying tax on a related
See MoreLithuania – Tax card for 2014
Lithuania has prepared a “tax card” that provides an easy-to-read overview of the tax system in Lithuania for 2014. This provides a convenient reference for businesses operating in
See MoreLatvia introduces Tax card for 2014
Latvia has prepared a “tax card” that provides an easy-to-read overview of the tax system in Latvia for 2014. This card includes a review of Latvia’s corporate income tax rates and rules, micro-enterprise tax, individual (personal) income tax,
See MoreItalian Red Tape Reduction Could Fund Tax Cuts
At its 15th annual forum the President of Confcommercio, the federation representing small and medium-sized enterprises, professionals and sole traders in Italy, re-asserted his appeal for the Government to link a reduction in public expenditure
See MoreIsrael: High Court of Justice rejects petition to deny “foreign resident” VAT status from multinational internet companies
The High Court in Israel has rejected a petition asking the Court to order the Finance Minister and tax authorities to impose VAT on cross border services delivered electronically and on products of foreign companies sold in Israel. The Court
See MoreIreland – Finance Minister clarifies Corporate Tax Developments
Ireland has confirmed that the changes to residency rules that are intended to deal with the problem of mismatches between treaty partner countries have so far not affected any company’s residence status. The reform which was in the 2014 Finance
See MoreIreland – Car Tax Breaks for Disabled Persons
Ireland has announced that from the end of this year it is to abolish the excise duty relief relating to the fuel portion of the Disabled Drivers and Disabled Passengers scheme. This is a consequence of a decision of the European Court of Justice,
See MoreUS – Supreme Court Agrees Severance Pay Is Taxable
In the US the Supreme Court has decided in favor of the IRS in a case involving the tax status of involuntary severance payments made to employees who have been laid off. The Court decided that these payments are subject to the provisions of the
See MoreIndia: Delhi Tribunal rules on transfer pricing aspects of intra group financing transactions
In India many transfer pricing cases are heard in the Courts. These decisions can provide clarification of the operation of the transfer pricing rules in India and can therefore give potential investors more certainty about the transfer pricing
See MoreFrance – VAT on house improvement rises
France has confirmed that the reduced rate of VAT on home improvements is to rise from 7 percent to 10 percent. The previous 7 percent rate will however still apply in certain situations including work that began before 1 January 2014 and cases
See MoreUkraine – VAT bonds introduced by the parliament
Ukraine has passed a new measure to clarify the procedure for obtaining VAT refunds through VAT bonds (Law No 4575). The new law clarifies that VAT bonds will cover refunds claimed before 1 January 2014 but these bonds are only available in respect
See MoreFrance – Sin Taxes should target health care goals
In France a committee of the Senate has suggested that the behavioral taxes on certain goods such as tobacco and spirits should be more directly linked to government public health targets. These taxes could be renamed public health contributions to
See MoreFrance – Employers demand Corporate Tax Cuts
Anxious to kick-start talks on a reform of corporation tax, the President of the French employers' federation Medef, has called on the Government to lower the corporate social solidarity contribution (C3S) together with the headline rate of
See MoreEuropean law used in Turkish transfer pricing case
Turkey has taken a step towards improving the rights of taxpayers by implementing a decision of the European Court of Human Rights (ECHR) in a transfer pricing ruling. The transfer pricing case involved allegations by the tax administration that a
See MoreCzech Republic – Tax legislation anticipated
The Czech Republic is to shortly make available for consultation a new legislative plan. This plan will include proposals for regulating some of the concepts contained in the Civil Code. These changes will affect the concept of trusts and will also
See MoreCzech Republic – Ministry of Finance announces proposed future tax measures
The Czech Republic has issued information on proposals for future amendments of the tax law. These amendments would come into effect from 1 January 2015 or 1 January 2016 and would be mainly targeted at the fight against tax evasion and artificial
See MoreChinese SAT announces new plans for the future
In a video conference held by the State Administration of Taxation (SAT) on 18 March 2014 the current work on international taxation and future plans were outlined. China has improved the legal framework within which its international tax work takes
See MoreChina relaxes company registration procedure
With effect from 1 March 2014 China’s company law has been updated with the aim of streamlining the registration procedures and making the minimum capital requirements less stringent. China’s Company Law gives considerable discretion to
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