OECD: Revenue Statistics in Africa
The first edition of the OECD publication Revenue Statistics in Africa presents statistics relating to eight countries that represent around a quarter of Africa’s GDP. The countries studied in this edition are Cameroon, Ivory Coast, Mauritius,
See MoreItaly: Tax Authorities Issue Regulation to Clarify APA Procedure
The director of the Italian Revenue Office (Agenzia delle Entrate) issued regulation no. 42295/2016 (the regulation) on March 21 2016 which contains provisions for the application of the rules on advance pricing agreements (APAs) for enterprises
See MoreIreland: Advance pricing agreement regime announced
The Irish revenue authority has announced that it will introduce a formal Advance Pricing Agreement (APA) program and are expected to be published in 2016. Ireland has accepted and concluded bilateral advance pricing agreements (APAs) for many years
See MoreOECD: Latin American Revenue Statistics
The OECD has published the revenue statistics for Latin American and Caribbean countries. The report entitled Revenue Statistics in Latin America and the Caribbean was produced by the Inter-American Centre of Tax Administration (CIAT), the Economic
See MoreEuropean Commission and IMF discuss revenue mobilization
Representatives of the European Commission and the international Monetary Fund (IMF) met on 14 March 2016 to discuss strengthening their partnership in areas such as mobilizing domestic revenue. In the next few months the two organizations are
See MoreOECD: Report to G20 on BEPS and global forum developments
A report by the OECD prepared for the meeting of the G20 Finance Ministers on 26 and 27 February 2016 summarizes the developments on the project on base erosion and profit shifting (BEPS) and other international tax initiatives. The report notes
See MoreVenezuela: Increase in value of tax unit gazetted
Resolution SNAT/2016/011 was issued by the National Integrated Service for the Administration of Customs Duties and Taxes on 11th February 2016 and has been published in the Official Gazette. The Resolution increases the tax unit value (TU) from VEF
See MoreTaiwan: Simplifies the conditions for the application of advance pricing agreement
The Ministry of Finance has simplified the conditions for the application of an advance pricing agreement (APA) and other procedural rules based on the amendments enacted on 6 March 2015. Accordingly, a taxpayer may apply for an APA if the total
See MoreUK: Digital communications research published
The UK tax administration HMRC plans to extend online tax accounts to all individuals and businesses paying tax in the UK. To prepare for this customer research was performed to look at the reaction of difference groups of taxpayers and to help in
See MoreRomania: Government publishes new Orders on tax rulings and APAs
The Romanian Government published Orders at the end of 2015 regarding binding tax rulings and advance pricing agreement (APAs). Under the provisions on binding tax rulings the tax situation that is to be the subject of the ruling must be in the
See MoreUK: Corporation tax and large companies
A report published by a UK accounting firm indicates that 85 of the companies in the FTSE 350 index paid corporation tax at a rate of less than 5% on their accounting profits; a further 8 companies paid less than 10% of their profits in corporation
See MoreNetherlands: Decree published on adjustment period for advance tax rulings issued
During the parliamentary debate on the Act implementing the changes Parent-Subsidiary Directive 2015 have been in the Memorandum relating to the report two indicated publish a policy decision on an adjustment period for advance tax rulings
See MoreUK: Summary of responses to penalties discussion document
On 17 September 2015 HMRC issued a summary of responses to a discussion document on penalties. The original discussion document published on 2 February 2015 put forward five principles that should be the basis for any tax penalty regime. These are
See MoreUK: Research into motivators and incentives for voluntary disclosure
HMRC has published a report on the findings of a research project on drivers for taxpayer participation in voluntary disclosure opportunities. The project involved 38 interviews with taxpayers who had either disclosed voluntarily; been investigated
See MoreIMF: Fair Taxation in the Middle East and North Africa
The IMF published Staff Discussion Note 15/16 on 2 September 2015 dealing with the subject of fair taxation in the Middle East and North Africa (MENA). The notes look at how tax systems can contribute to meeting demands for greater fairness in the
See MoreVietnam: Publishes Guidance on Tax Administration
Circular 110/2015/TT-BTC was issued on 28 July 2015 and provides guidance on tax administration and compliance by electronic means. The Circular replaces earlier Circulars 35/2013/TT-BTC and 180/2010/TT-BTC, and includes guidance on tax
See MoreOECD issues new guidance on disclosure requirements and information exchange
On 7 August 2015 the OECD issued three guidance documents for tax administrations to help them in their fight against tax evasion. These are the Common Reporting Standard Implementation Handbook; a second edition of the Offshore Voluntary
See MoreHong Kong: Notes exchanged with Japan in relation to tax treaty in force
The agreement constituted by the exchange of notes between Hong Kong and Japan regarding the Exchange of Information Article of the Comprehensive Avoidance of Double Taxation Agreement between the two jurisdictions has entered into force on July 6,
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