Denmark:Announced Budget Proposal for 2015
The Ministry of Finance published its Budget Bill for 2015 on 26 August 2014. The Budget is focused on certifying better benefit, producing more jobs and keeping the economy sound under mechanism. The Budget will generally apply from 1 January
See MoreIndia: Amended the transfer pricing rules in budget 2014
On 10 July 2014, the Finance Minister proposes amendments to India’s transfer pricing rules in India’s budget of 2014. The Budget 2014 proposes to amend the rules to provide that an APA entered into with regard to a future transaction may also
See MoreFrance-Amended Finance Bill for 2014
The national assembly of France adopted the Amended Finance Law and the Amended Finance Law on Social Security for 2014 on 23 July 2014.The Constitutional Court will now review the law and after signing by the president the law will enter into
See MoreCanada -Tax measures in budget bill
Bill 26 has received first reading on July 24, 2014 and includes tax measures as follows: Increment of individual income tax on taxable incomes above $150,000 Reduction of the taxable income threshold due to 13.16% tax rate to $220,000 instead
See MoreBulgaria: Amendments in CIT, VAT and social security
The Budgetary and Finance Commission of the parliament is currently discussing some amendments in corporate income tax, VAT and social security sectors those will be planned for voting by the parliament. Bulgaria will take advantage from the
See MoreSouth Korea- No Budget for 2014
South Korea's Minister of Strategy and Finance revealed that the government will not introduce a supplementary budget in fiscal year 2014. The government is not planning any additional budget and measures will be included in the budget for
See MoreChile: The Senate endorses tax reform bill
According to a statement from the Ministry of Finance, the Chilean Senate has approved tax reform bill from the President on July 15, 2014. An agreement between the government and the Senate's Finance Committee has taken place earlier this month for
See MoreIndia: Tax benefits could be available for certain CSR activities
Recently with the Union budget the government has provided simplicity on tax aspects of corporate social responsibility (CSR). Clarifying the government's attitude on the issue of possible tax benefits for CSR activities Central Board of Direct
See MoreCanada – Hiking individual income tax rate in Ontario budget
The Ministry of Finance in Ontario has announced plans to hike the provincial personal income tax rate, as part of the 2014 Budget and by ending tax years after December 31, 2013, the new rates and thresholds will be applied. The Budget proposes a
See MoreIndia – Budget for 2014-15
India’s new government announced their first Union Budget 2014-15 on 10 July 2014. Among the tax provisions in the budget are measures concerning India’s most awaited tax reform a uniform goods and services tax (GST).According to the budget, the
See MoreRussia: MoF clarifies tax agents’ obligations of the securities depositories
The Ministry of Finance (MoF) has issued Letter No. 03-08-13/22654 on May 14, 2014 for clarifying the tax agents' responsibilities of the securities depositories making transfers to Russian and foreign companies further to dividend distributions.
See MoreIndia: New government will present its first federal budget on 10 July 2014
Indian Finance Ministe r will present the budget for the 2014/15 financial year on July 10,
See MoreBangladesh: The 2014-15 Budget will provide for legalization of undisclosed income as in previous budgets
The move comes as no surprise not only because such opportunities were provided in previous budgets but also because powerful lobbies have been active to push for such provisions. AMA Muhith on Saturday told in the Parliament that undisclosed income
See MoreCanada: Ready to execute 2014 Budget measures
The Ministry of Finance in Canada has introduced the receipt of Royal Assent for legislation to apply center elements and a series of tax credit reforms in the 2014 Budget. The legislation extends the 15% Mineral Exploration Tax Credit for share
See MorePakistan: Budget for 2014-2015 has been presented to the parliament
The Pakistan Government has presented to parliament the nation's 2014-2015 Budget, which includes proposals aimed increasing tax compliance rates, increasing progressive direct taxes, and lowering the burden of indirect taxes. The 2014 budget set
See MoreFrance: Adopted Amending Finance Bill for 2014
The Council of Ministers of France adopted the Amending Finance Bill for 2014 on 11 June 2014. According to the adopted bill the temporary surtax on the corporate income tax for large companies will be eliminated on 30 December 2016. The thresholds
See MoreKenya: Presented Budget for 2014-2015
Kenya announced its budget for the year of 2014-15 on 12 June 2014. The budget has emphasized on several tax proposals: Propose tax rates for resident companies at 30% (previously it was 10%) and for non-resident companies at 37.5% (previously it
See MoreSingapore: Extended fund management tax incentives
Singapore’s 2014 budget proposed for the extension and enhancement of a tax incentive program for qualifying funds. Following changes are occurred on tax incentive program: -Lengthen the expiration date of the tax incentive program to 31 March
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