Andorra gazetted Budgetary Framework 2016-2019
The Budgetary Framework of 2016-2019 for the General State Administration was published in the Official Gazette, on 18 January 2017. The Budgetary Framework of 2016-2019 contains a series of budgetary estimates and limitations for the covered
See MoreNorway publishes new rules on sharing economy
The tax administration published a report on the participation of the economy and suggested new rules for dealing with it on 19 January 2016. According to the proposed rules, there must be clearer rules on tax-exempt income and business; simplify
See MoreMalaysia: Corporate tax proposals under the finance act 2016
The Finance Act 2016, which was gazetted on 16 January 2017, introduces new corporate tax proposals to the Malaysian Income Tax Act (MITA). The highlighted area of the proposals is as given below; Special classes of income are subject to withholding
See MoreIndia: Approves amendment in modified special incentive package Scheme
On 18 January 2017, the Indian Union Cabinet has given its approval for amendment in the Modified Special Incentive Package Scheme (M-SIPS) to further incentivize investments in Electronic Sector and moving towards the goal of ‘Net Zero imports’
See MoreCzech Republic: Bill on automatic exchange of rulings and pricing arrangements approved
A Bill regarding the automatic exchange of advance cross-border rulings and advance pricing arrangements has been approved by the lower chamber of the parliament of Czech Republic on 11th January 2017. It implements the provisions of Council
See MoreGreece: Deadline extension of voluntary disclosure of undeclared income
An amendment to Law 4446/2016 was adopted on 20th January 2017 by the parliament. The amendment made an extension to the deadline for the tax return filing within the framework of the voluntary disclosure of undeclared income. The new deadline is
See MorePakistan: Introduces an incentive scheme for industrial and trade sectors under no question on source of investment
The government has agreed on a new incentive scheme for industrial and trade sectors under which tax authorities will not question the source of investment, industry sources said on 22 January 2017. Sources in Federal Board of Revenue (FBR) also
See MoreMexico: Miscellaneous Tax Resolution (Annex 16) for 2017 published
Annex 16 to the Miscellaneous Tax Resolution for 2017 has been published in the Official Gazette on 16th January 2017. This Resolution contains the guidelines to complete and present the Statutory Tax Audit Report of
See MoreMexico: Miscellaneous Tax Resolution (Annex 15) for 2017 published
Annex 15 to the Miscellaneous Tax Resolution for 2017 has been published in the Official Gazette on 12th January 2017 regarding new automobile tax tariffs for
See MoreBolivia publishes budget for 2017
The General Budget for 2017 was published in the Official Gazette on 28 November 2016. The Budget exempts from corporate income tax interest paid to creditors of public debt issued by security titles at foreign capital markets; and installments made
See MoreColombia introduces new turnover tax withholding requirements
According to regulation DDI-052377-2016 of Bogota's Tax Administration a new turnover tax withholding requirements has launched and it effective as from first January 2017. The new regulation provides the entities that have to act as turnover tax
See MoreAustria-EU: Further details of tax changes
The Austrian Ministry of Finance on 2 January 2017, published a report on the tax changes that are applicable from 2017. In addition to the measures already described, further changes regarding 'EU measures' are summarised below: Beneficial
See MoreCosta Rica: Legislative Assembly approves corporate flat tax
The National Legislative Assembly on 9 January 2017, approved the Bill no 19818 to retain the registration flat tax on companies. According to Bill, companies, as well as any branch of a company which are registered in the Register of Legal
See MoreUS: Trump comments on import tariffs
President-elect Donald Trump has repeated his intention to raise import tariffs on US multinational companies that move their production abroad and then sell products back into the United States. He has given his opinion during a press conference on
See MorePakistan: Introduces 2% tax rebate
The federal government has approved the tax reduction proposal of 2% for Shariah-compliant listed companies through Finance Act
See MoreNetherlands: Tax Plan for 2017 publishes in the official gazette
The Upper House of Parliament approved tax plan for 2017, on 20 December 2016. This tax plan has published in the official gazette (No. 544.) on 29 December
See MoreDominican Republic: Tax Authorities publishes new request forms for all tax-related procedures
The tax authority (DGII) of the Dominican Republic has recently published on its website, a set of new forms that taxpayers are to use for most tax-related procedures. The new forms exchange the prior letter request format used by taxpayers seeking
See MoreIceland: Threshold increases for VAT registration
The Directorate of Internal Revenue issued a declaration on 9 January 2017 regarding VAT registration and invoice issuance. If the supply of goods and services is below ISK 2 million within a tax year duration, the business does not need to register
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