IMF report comments on economic position of Luxembourg
On 16 May 2016 the IMF issued a report following the conclusion of talks in Luxembourg under Article IV of the IMF’s articles of agreement. Economic growth in Luxembourg has been strong and reached 4.8% in 2015 driven by net exports of financial
See MoreIMF report looks at the economic position in Norway
Norway’s economy has been hit by the fall in oil prices and a decline in offshore investment. The mainland growth fell to 1% in 2015 with a fall in private investment offset by growth in household consumption, an expansionary fiscal policy and an
See MoreIMF report comments on economic position of Saudi Arabia
On 19 May 2016 the IMF issued a report following the completion of consultations with Saudi Arabia under Article IV of the IMF’s articles of agreement. The real GDP growth rate in Saudi Arabia is projected at 1.2% in 2016, a decrease from the
See MoreEcuador: Tax measures to resolve crisis caused by natural disaster
The National Assembly of Ecuador approved the law containing provisional tax measures to help resolve the crisis caused by the natural disaster of 16 April 2016. Generally, the Law establishes that contributions introduced are non-deductible for
See MorePakistan: Foreign tax registration documents mandatory for non-resident companies
The Federal Board of Revenue (FBR) has proposed to make it mandatory for non-resident companies with or without a permanent establishment (PE) in Pakistan to be registered for tax purposes and to provide their company and business details (including
See MoreOECD: Tax administrations and capacity building
At the meeting of the OECD’s Forum on Tax Administration (FTA) on 9 to 11 May 2016 a publication entitled “Tax Administrations and Capacity Building: A Collective Challenge” was issued. Domestic resource mobilization requires an effective tax
See MoreIMF report comments on Canada’s economic policy
On 9 May 2016 the IMF issued a report after the completion of consultations with Canada under Article IV of the IMF’s articles of agreement. Canada’s economy is facing a test owing to the fall in oil prices. Real GDP growth decreased from 2.5%
See MoreUK: Report by IMF comments on economic and fiscal policy
On 13 May 2016 the IMF issued a report following the completion of consultations with the UK under Article IV of the IMF’s articles of agreement. The report notes that uncertainty arising from the upcoming referendum on EU membership has affected
See MoreIMF report comments on economic position of the United Arab Emirates
On 9 May 2016 the IMF issued a report following the conclusion of discussions with the United Arab Emirates (UAE) under Article IV of the IMF’s articles of agreement. The IMF comments that the UAE is in a good position to face the oil price shock
See MoreIndia: Proposes amendments to Finance Bill 2016
The Finance Bill, 2016 (the Bill) was introduced by the Finance Minister on 29 February 2016 in the Lok Sabha. On 5 May 2016, the amendments to the Bill have been proposed by notice of amendments. The Bill has proposes following amendments: -The
See MoreDenmark: Publishes new transfer pricing documentation guidelines
The Danish Ministry of Taxation issued two Orders : BEK nos. 401 and 402, on 28 April 2016, concerning transfer pricing documentation. The new documentation guidelines BEK no. 402, which will replace the previous guidelines of 24 January 2006 (BEK
See MoreIMF report comments on the economic position of Germany
On 9 May 2016 the IMF published a staff report following the completion of consultations with Germany under Article IV of the IMF’s articles of agreement. Economic growth in Germany will continue at a moderate pace in 2016 with strong domestic
See MoreIMF report comments on the economic policy of El Salvador
On 6 May 2016 the IMF published on its website a staff report following the conclusion of consultations with El Salvador under Article IV of the IMF’s articles of agreement. In the years from 2000 to 2014 economic growth in El Salvador averaged
See MoreIMF report comments on the economic and fiscal position of Malaysia
On 4 May 2016 the IMF issued a staff report following consultations with Malaysia under Article IV of the IMF’s articles of agreement. Although Malaysia has an open, diversified economy it has been hit by the lower oil price, economic problems of
See MoreIMF report comments on economic policy in Colombia
On 5 May 2016 the IMF published a report on the economy of Colombia following the conclusion of discussions under Article IV of the IMF’s articles of agreement. Colombia achieved economic growth in 2015 of 3.1% which was one of the highest growth
See MoreIMF report comments on the economic situation in Latvia
On 3 May 2016 the IMF issued a report following consultations with Latvia under Article IV of the IMF’s articles of agreement. Economic growth in Latvia is expected to slow slightly to 2.5% in 2016 owing to economic uncertainty and the
See MoreIMF report comments on the economic policy of Denmark
On 4 May 2016 the IMF issued a report on the economy of Denmark following the conclusion of consultations under Article IV of the IMF’s articles of agreement. Denmark scores well in international comparisons of business competitiveness and the
See MorePortugal: State Budget 2016 approved
On 30 March 2016, the State Budget 2016 (Law 7-A/2016) of Portugal has been promulgated by the President of the Portuguese Republic and published in the official journal Diário da República. Additionally, on 5 February 2016, further budget
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