Brazil: Government declares new tax measures
Brazil’s Executive branch has proposed different tax measures that would decrease the expected 30 billion Reais (R$) deficit for 2016 to avoid a budget deficit. Tax incentives Under the proposal, tax incentive for export companies will reduce
See MoreIMF: Policies in support of sustainable development goals
A Staff Discussion Note published by the IMF on 22 September 2015 looks at policies that countries could adopt in pursuing sustainable development goals. The Note entitled From Ambition to Execution: Policies in Support of Selected Sustainable
See MoreKuwait: IMF comments on economic and fiscal position
On 21 September 2015 IMF staff issued a report under Article IV of their articles of agreement following consultations in Kuwait. The recent drop in oil prices has adversely affected the economy and has slowed growth. Non-oil sector growth slowed
See MoreUruguay-Proposed Budget Bill for 2015-19
Uruguay’s government has submitted to the Congress the Bill of the National Budget for the years 2015 up to 2019 on 31 August 2015. If enacted the bill would make significant changes to the tax laws. According to the proposal, income derived from
See MoreRussia: Tax authority issues an official order on tax treaty application
The Russian government issued Order No. 1531-r on 8th August 2015. This Order relates to an agreement between Russia and Kazakhstan on the recognition of official documents authorizing the tax residence of taxpayers for the purpose of tax
See MoreOECD: Improving cooperation between tax and money laundering authorities
On 18 September 2015 the OECD launched a report dealing with the issue of access by tax administrations to information held by government units dealing with financial intelligence. This publication looks at measures to increase a whole of government
See MoreNetherlands-Publish Budget Proposal for 2016
The Dutch Ministry of Finance published its budget proposals for fiscal year 2016 on 15 September 2015. The budget proposals cover several tax law changes, including the application of the recent modifications of the European Union (EU)
See MoreRomania: New Agency for Largest Taxpayers
The Romanian tax authority has obtained permission from the Government to establish a specialized agency for dealing with the largest taxpayers. This initiative was recommended by an IMF report published last month. Recently the Romanian
See MoreUK: Research Report on Effect of the Annual Tax on Enveloped Dwellings
Although most residential property in the UK is owned directly by individuals in some cases the property is owned by a company or other corporate structure. The property can then be said to be enveloped in a corporate wrapper. Until 1 April 2013
See MoreUK: Research Report on Employment Related Securities
On 17 September 2015 HMRC published on its website a research report on employment related securities. The research report is the product of a series of hour-long in-depth interviews with advisers, employee benefit consultants and
See MoreUK: Research into company investment decisions
A research report on profit distribution and investment patterns of unlisted companies was published on the HMRC website on 17 September 2015. The quantitative and qualitative research looks at the reasons for company behaviour including tax
See MoreOECD Issues Policy Framework for Investment
The 2015 edition of the OECD publication Policy Framework for Investment published on the OECD on its website on 14 September 2015 provides guidance on improving the environment for investment in a number of fields of policy. The publication
See MoreECJ: Advocate General issues an opinion involving dividend taxation and free movement of capital
The Advocate General of the European Court of Justice (ECJ) issued an opinion on 10 September 2015 in the case of Pensioenfonds Metaal en Techniek v Skatteverket (Case C-252/14). The Supreme Administrative Court of Sweden had asked the ECJ for a
See MoreMexico: Tax reform proposal submitted to congress
The Mexican tax reform proposal presented to congress on September 8, 2015 which includes supplementary transfer pricing documentation requirements in line with the three-tiered approaches of Action 13 of the OECD like master file and local file
See MoreSaudi Arabia: IMF comments on economic and fiscal position
The IMF issued a report on 9 September 2015 following the conclusion of consultations with Saudi Arabia under Article IV of its articles of agreement. Saudi Arabia has been one of the strongest growing G20 economies, but with the recent fall in the
See MoreNorway: IMF comments on economic and fiscal issues
The IMF has recently concluded discussions with Norway under Article IV of its articles of agreement and has issued a staff report and selected issues paper on aspects of the Norwegian economy. The mainland (non-oil) GDP growth was 2.2% in 2014,
See MoreRomania enacts new Fiscal Procedure Code
The Romanian tax authority has published the revised Fiscal Procedure Code in the Official Gazette no. 545 dated 23 July 2015. The existing Fiscal Procedure Code is being updated by Law 207/2015 implementing new provisions with respect to tax
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
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