Denmark: Government proposes amendments to corporate taxation rules
On 23 February 2018, the Danish Ministry of Taxation published the bill on corporate taxation. The bill amending the Danish company taxation is as follows: Permanent establishment (PE) The Danish government explicitly states that non-Danish
See MoreCanada: Finance Minister presents the Federal Budget 2018
The Finance Minister, Bill Morneau, presented a federal budget, on February 27, 2018, that plans a clear course for the Liberals to the 2019 election, an aspirational road map designed to ensure that no woman, scientist or national wildlife area
See MoreCzech Republic: Proposed amendments to income tax for 2019
Recently, Finance Ministry has published the first draft copy of the amendment to the Income Tax Act for comments. These amendments are supposed to be started from year 2019. The proposed personal income tax rate of 19% is 1.1% less than the present
See MoreIMF Report Calls for More Efficient UK Economy
An IMF assessment of the UK economy published on 14 February 2018 concludes that the UK economy must become more efficient. The UK economy is being held back by uncertainty following the decision to exit the EU. The weaker pound has caused higher
See MoreUK: Consultation on extending assessment time limit for offshore cases
On 19 February 2018 HMRC issued a consultation document entitled ‘Extension of Offshore Time Limits’. This follows an announcement in the Autumn Budget 2017 that the time limit in relation to non-deliberate offshore compliance would be increased
See MoreUK: Review of the corporate intangible fixed assets regime
At the Autumn Budget in November 2017 the UK government announced a review of the corporate intangible assets regime. This regime introduced in April 2002 allows companies tax relief for the cost of acquisition of intangible fixed assets and
See MoreCanada: British Columbia issues draft budget 2018-19
The Finance Minister of British Columbia, Carole James, presented the province’s fiscal budget 2018-2019 on February 20, 2018. The summary of this budget is given below: A new child care program that makes care effectively free for some
See MoreOECD: Working paper on taxation of debt and equity of individuals
An OECD working paper written by M. Harding and M. Marten and issued on 15 February 2018 is entitled “Statutory tax rates on dividends, interest and capital gains: the debt equity bias at the personal level”. The paper presents tax rates on
See MorePlatform for Collaboration on Tax: Global Conference
The first Global Conference on Taxation and SDGs convened by the Platform for Collaboration on Tax (PCT) concluded in New York on Friday, 16 February 2018. The PCT brings together the key players in international organizations mandated to work on
See MoreCanada: Federal Budget 2018 is to be scheduled on February 27, 2018
On February 14, 2018, the Finance Minister, Bill Morneau, announced that the Federal Budget 2018 will be presented on February 27, 2018, in the House of Commons. According to the Budget 2018, the Government will take some steps towards equality, and
See MorePlatform for Collaboration on Tax: Closing Statement of Conference on Tax and SDGs
On 16 February 2018 the Platform for Collaboration on Tax (PCT) released the closing statement following its conference on taxation and the sustainable development goals (SDGs). The PCT was set up by the IMF, OECD, UN and World Bank at the request
See MoreOECD: Taxing Energy Use 2018
On 14 February 2018 the OECD issued Taxing Energy Use 2018, a publication that summarises the patterns of energy taxation in 42 countries of the OECD and G20. The countries included in the publication account for around 80% of global energy use. The
See MorePlatform for Collaboration on Tax: Conference on Taxation and SDGs
The Platform for Collaboration on Tax (PCT) was set up by the IMF, OECD, UN and World Bank at the request of the G20 of countries to recommend mechanisms to ensure effective implementation of technical assistance programs. On 14 February 2018 a
See MoreAustralia: ATO releases draft PCG on diverted profits tax
On 7 February 2018, the Australian Taxation Office (ATO) publicly released a draft practical compliance guide PCG 2018/D2 concerning Diverted Profits Tax (DPT). The draft PCG has been released for public consultation and submissions close on
See MoreSwitzerland: Federal Council set the parameters for the dispatch on tax proposal 17
The Swiss Federal Council announced that it has set the parameters for the dispatch on the country's tax reform proposal (tax proposal 17) on 31st January 2018. The Federal Council's parameters that will be contained in the dispatch on tax proposal
See MoreSouth Africa: National Treasury issues 2nd draft of the carbon tax bill for public comment
On 14 December 2017, the National Treasury was published the 2nd draft of the Carbon Tax Bill for public comment and presented in Parliament. The version of the second draft law is generally follows the first version (published in 2015) but reflects
See MoreOECD: Platform for Collaboration on Tax to hold global conference
The first global conference of the Platform for Collaboration on Tax (PCT) is to be held on February 14-16, 2018, focusing on important directions for tax policy and administration so as to achieve the Sustainable Development Goals (SDGs). The PCT
See MoreOECD: Updated report on preferential tax regimes
Action 5 of the OECD/G20 action plan on base erosion and profit shifting (BEPS) aimed to counter harmful tax practices more effectively, taking into account transparency and substance. The minimum standard set out in the final report on Action 5
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