IMF: Report on fiscal policy of Sweden
The IMF has published on its website the concluding report by staff after consultation with Sweden under Article IV of the IMF’s articles of agreement. The IMF report indicates that Sweden’s economy is performing well and economic growth should
See MorePoland: Parliament approves new R&D tax incentives
The parliament accepted a bill proposed by the former president amending the Corporate Income Tax Law to establish new research and development (R&D) tax incentives and promote modern technologies, on 25 September 2015. According to the bill,
See MoreLithuania issues a proposal to amend the Law on Corporate Income Tax
The Ministry of Finance of Lithuania issued a proposal to amend the Law on Corporate Income Tax on 3 September 2015. If approved by parliament the amendments will enter into force on 31 December 2015. Under the proposed amendments, anti-abuse rules
See MoreDenmark publishes information on the Budget for 2016
The Danish government published information on the Budget for 2016 on 29 September 2015. The tax measures set out in the Budget, which will be presented to the parliament on 8 October 2015, include some important changes as summarized below: -
See MoreIMF publishes letter of intent from Cyprus
The IMF has published on its website a Letter of Intent prepared by Cyprus in connection with a request for financial support. The Letter of Intent includes an updated Memorandum of Economic and Financial Policies that outlines policy Cyprus is
See MoreKazakhstan: Draft law amending excise duties has sent to government
A draft law along with the amendments to the excise duty rates has been sent to the Government on 15th September 2015. The changes are as follows: The excise duty for wholesale of locally produced petrol and petrol transfers is currently set at
See MoreOECD to release final BEPS package on 5 October 2015
The OECD has announced that it is to release the final package of measures to tackle base erosion and profit shifting (BEPS) on 5 October 2015. The final package will result from the BEPS action plan which set out 15 actions targeting key areas in
See MoreWTO: Trade Policy Review of Guyana
The World Trade Organization (WTO) conducted a trade policy review of Guyana on 15 and 17 September 2015. To prepare for the review a report was written by the WTO Secretariat. Guyana’s economic performance has improved in recent years with
See MoreWTO: Trade Policy Review of Angola
The World Trade Organization (WTO) is conducting a Trade Policy Review of Angola on 22 and 24 September 2015 and the Secretariat has issued a report on the economic and trading position of Angola. The reviews are mandated by the WTO agreement and
See MoreBrazil: 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
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