Kazakhstan: Finance Ministry permits to sign DTA with Slovenia
On 3 February 2014, the government of Kazakhstan gave clearance for the Ministry of Finance to sign the income and capital tax treaty with Slovenia. The agreement of the text of the draft double taxation agreement was originally announced on 13 June
See MoreCzech Republic – Coalition government’s tax policy
The agreement establishing the new government in the Czech Republic indicates that there are currently no plans to raise income taxes. With respect to corporate income tax, however, the coalition agreement mentions that a “sector tax” with
See MoreColombia – New criteria for determining large taxpayer issued
Colombia’s tax administration has issued guidance establishing new criteria for determining who qualifies as a “large taxpayer”. Being identified as a “large taxpayer” may affect specific arrangements for paying taxes, and may affect both
See MoreCanada: GST compliance changes
The Canadian budget for 2014 includes a range of changes to the Canadian Goods and Services Tax (GST) and Harmonized Sales Tax (HST) regime. The tax changes include the following: Extension of the GST exemption on certain health and disability
See MoreCanada: 2014 Budget introduces no new taxes
The Canadian 2014 Budget introduces “no new taxes” on families or businesses, but does crack down on aggressive tax avoidance and overhauls a number of tax credits. The Finance Minister’s Economic Action Plan 2014 contains a series of reforms
See MoreBulgarian government will maintain low rates of direct taxes
On February 11, 2014, a forum entitled: Government-Business: Economic Restart National Forum: was organized at the initiative of the Bulgarian Prime Minister. The forum was organized in four different panels that discussed the following
See MoreBulgaria confirms that it will keep its 20% VAT rate
The government of Bulgaria has confirmed that it will keep its 20% VAT rate for the foreseeable future as part of its flat tax policy. Bulgaria has one of the lowest VAT rates in the region. Some other countries in central Europe have been
See MoreArgentina: Income tax changes relating to share transfers and dividends
Changes have been made in Argentina to the income tax treatment of securities, the transfer of shares and dividend distributions. On 7 February 2014, Decree 2334 was published in the official gazette. This Decree implements income tax changes as
See MoreGermany: VAT rates on multiple rate supplies
The German Federal Ministry of Finance has clarified the procedures for German VAT rates on a single supply where there are different VAT rates applicable. Where a supplier is offering for a single price goods with multiple VAT rates attached, the
See MoreCroatia ratifies convention on Mutual Administrative Assistance in Tax Matters
On 31 January 2014, the Croatian parliament ratified the multilateral Convention on Mutual Administrative Assistance in Tax Matters, signed on 25 January 1988 and the amending protocol signed on 27 May 2010. This multilateral Convention is seen as
See MoreCanada: No tax rate changes in Quebec’s budget for 2014
On 20 February 2014, Quebec's Minister of Finance and the Economy, delivered the 2014 Québec budget. The budget does not include any general corporate or individual (personal) income tax rate
See MoreUnited Kingdom – Supreme Court addresses cross-border group losses
The UK Supreme Court on 19 February 2014 issued its judgment relating to three remaining issues in the Marks & Spencer case—i.e., the case addressing a cross-border group relief claims. The Court found that the conditions for the “no
See MoreSouth Africa: Tax Guide for South African Shareholders Revised
The South African Revenue Service (SARS) has issued a revised edition of its Tax Guide for Share Owners, which provides general guidance on the tax consequences of holding shares as trading stock compared to holding them as capital assets. The Guide
See MoreSingapore – Tax proposals in 2014 budget
Singapore’s 2014 budget statement was presented on 21 February 2014. An initial review of tax measures included in the budget statement reveals there are provisions that would achieve the following changes: The budget if passed into law would
See MoreEU and France reach Deal on Saint-Barthelme Savings Tax
The European Union (EU) and France have drafted an agreement on the application of savings tax legislation to the collectivity of Saint-Barthelme. The island of Saint-Barthélemy ceased to be a region of the EU with effect from January 1, 2012.
See MoreSpain: 2014 Budget is in Effect
The 2014 Budget published by the Spanish government is now in effect as of 1 January 2014. The budget includes a long-term strategy targeting employee training, advance payments regulation and changes to corporate income tax. The main tax changes
See MoreSouth Africa-selective tax hikes predicted In South African budget
South African Finance Minister present his 2014/15 Budget to Parliament on February 26, the South African Institute of Tax Professionals (SAIT) has predicted that the Minister will have to introduce selective tax increases to make up for a shortfall
See MoreItaly withdraws WHT on inbound payments
An instruction from the Italian Revenue Agency for all Italian banks to withhold a 20 percent tax on all payments from abroad received by Italian individual taxpayers, has been withdrawn with effect from 1 February 2014 as it is being examined by
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