OECD: Taxation of Small and Medium Enterprises

08 September, 2015

The OECD has issued a publication on the taxation of small and medium enterprises (SMEs) in OECD and G20 countries. The report examines tax policy and administration in relation to SMEs, noting that these firms generally represent more than 95% of

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UK: HMRC Publishes Results of Large Business Panel Survey 2014

08 September, 2015

The results of the Large Business Panel Survey for 2014 have been published on HMRC’s website. The survey of large businesses was performed in late 2014 and early 2015. The aim was to track and assess the views of businesses on the services

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Canada: Prime Minister promises to improve mining tax credit

03 September, 2015

The Prime Minister of Canada has made a promise that if re-elected, his Government would prolong the mineral exploration tax credit for 3 years to 2019. As part of his election campaign, the Prime Minister also declared that his government would

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Latvia: Government approves draft budget for 2016

03 September, 2015

The Latvian government has agreed on a number of tax measures within the framework of the draft Budget for 2016. The most significant matters regarding next year's budget are to increase the minimum wage to EUR 370, to implement the differentiated

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Chile: Reporting process of indirect transfer of shares published

03 September, 2015

The Resolution No. 65 has been issued on 30th July 2015 and published on the tax administration's website. As described under article 10 and paragraph 3 of the Income Tax Law on about the indirect transfer of shares, this resolution controls

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Nigeria: Convention on Mutual Administrative Assistance on tax matters entered into force

01 September, 2015

As amended by the 2010 protocol, the multilateral agreement on Mutual Administrative Assistance regarding tax matters has been entered into force on 1st September 2015 in Nigeria and it generally applies from 1st January

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OECD: Tax trends in Indonesia, Malaysia and the Philippines

31 August, 2015

The latest OECD publication on revenue statistics in Asian countries looks at trends in Indonesia, Malaysia and the Philippines from 1990 to 2013 and compares them to two OECD countries (Korea and Japan). The study finds that the tax revenue as a

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South Africa: SARS publishes “Guide on Income Tax and the Individual 2014/15”

31 August, 2015

The South African Revenue Service has issued an updated version of its “Guide on Income Tax and the Individual 2014/15” on 28 August 2015. The purpose of this guide is to inform individuals who are South African residents of their income tax

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ASEAN discusses trade with China, Japan and Korea

29 August, 2015

The economic ministers of the Association of South East Asian Nations (ASEAN) have been meeting their counterparts from China. Japan and South Korea with a view to concluding an economic partnership agreement. China is aiming to conclude an

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Angola: IMF report comments on fiscal policy

27 August, 2015

The International Monetary Fund (IMF) issued a report on 25 August 2015 following the conclusion of discussions with Angola under Article IV of the IMF’s articles of agreement. The IMF report notes that Angola’s economy has been hit by the

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Russia: MoF clarifies income tax treatment of remuneration paid to remote employees

27 August, 2015

The Finance Ministry (MoF) issued letter No. 03-04-06/40525 on 15th July 2015 for clarifying the income tax treatment paid by a Russian employer to employees working on a remote basis abroad. The MoF noted that the income tax treatment

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Canadian non-resident permitted to carry-forward of non-capital losses

27 August, 2015

The Canadian Tax Court issued a decision regarding a case entitled Hatt v. The Queen (2015 TCC 207) on 19th August 2015. The issue was whether the taxpayer was entitled to deduct a non-capital loss from employment in Canada in the 2010 tax

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Bulgaria: Tax reform declared

25 August, 2015

The Finance Ministry has declared a tax reform through a press release on 22nd August 2015. The proposed tax modification would harmonize Bulgarian law with EU law, with the objective of implementing successful control mechanisms and reducing the

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Spain: IMF conference call considers tax policy issues

18 August, 2015

On 14 August 2015 the International Monetary Fund (IMF) published the transcript of a conference call held to clarify issues arising from the discussions with Spain under Article IV of the IMF’s articles of agreement. As Spain’s public debt is

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Saudi Arabia: IMF comments on economic and fiscal policy

18 August, 2015

On 17 August 2015 the International Monetary Fund (IMF) issued a report following the conclusion of consultations with Saudi Arabia under Article IV of the IMF articles of agreement. Real GDP growth is estimated to slow to 2.8% in 2015 and to 2.4%

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Spain: IMF comments on fiscal and tax policy

15 August, 2015

A selected issues paper published by the IMF on 14 August 2015 covers among other matters the challenge of coordination between national and regional levels of government in relation to fiscal consolidation. As significant taxing powers have been

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Brazil: Presents new proposal on taxation for financial firms and interest on net equity

14 August, 2015

Brazilian Senator presented a report on the analysis of Provisional Measure 675 (MP 675) regarding new social contribution on net profits (CSLL) rate and elimination of interest on net equity on 12 August 2015. MP 675: Tax rate (CSLL) increased

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OECD Issues Tax Administration Report for 2015

12 August, 2015

The OECD issued the Tax Administration 2015 report on 11 August 2015. This report contains data from a survey of 56 tax administrations in industrialized and emerging economies and analyses the latest trends and best practice within tax

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