US Lawmakers Plead for Sales Tax Deduction Renewal
A bipartisan group of 57 Members has, in a letter to the House of Representatives Ways and Means Committee, sought a renewal of the United States state and local sales tax deduction, which expired on January 1, 2014. The state and local sales tax
See MoreSwiss Finance Directors Request Corporate Tax Reform
The Swiss Conference of Cantonal Finance Directors (FDK) has emphasized on the importance of reforming the corporate tax system, making some preliminary recommendations. The FDK believes that some tax measures should be implemented quickly within
See MoreSpanish capital gains tax rules found to be discriminatory by Supreme Court
In a decision on 25 October 2013 in the Brambles France case (appeal No 1374/2011), Spain's Supreme Court ruled that the capital gains tax on non-residents may be discriminatory in some cases. The case involved a French company that sold its shares
See MoreSouth Korea: reducing stock option taxation
South Korea announced measures on 5 February 2014 to ease the tax burden on stock options for the venture capital and start-up sector. Early this year, the Government finalized a range of tax incentives, which were first announced in May 2013, to
See MoreRomania: Prime Minister considers tax breaks for reinvested profits
Romania's Prime Minister has said that he hopes to have details ready on a planned tax break on reinvested profits in time for the next International Monetary Fund (IMF) visit to the country in April. The Deputy Prime Minister and Finance Minister
See MorePortugal: Collection of Food Security Tax being enforced
The Portuguese Government is finally taking action to enforce payment of the country's food security tax from operators of large supermarket chains. Portugal's State Secretary for Food said that 107 cases are currently before the administrative and
See MoreNetherlands amends the preliminary tax assessment procedure
The amendments to article 23(2) of the Implementing Regulations of the 1994 General Tax Law relating to the issuance of preliminary tax assessments were published in the Official Gazette, No. 2405 . The amendments are summarized below. Under the
See MoreMalaysia: New Public Ruling on Withholding Tax on Special Classes of Income
The Inland Revenue Board of Malaysia issued Public Ruling No. 1/2014 (PR No. 1/2014) on Withholding Tax on Special Classes of Income on 23 January 2014. The special classes of income covered by the public ruling include amounts paid in consideration
See MoreFrance: Reduced VAT rate on digital newspapers and magazines
The French government is about to propose a VAT reduction for digital newspapers and magazines. The intention behind this move is to provide a level playing field for different forms of publication. The government wants to give the digital versions
See MoreEuropean Parliament Urged To Outlaw Anonymous Shell Companies
The European Parliament has been urged to support the creation of public registries of corporate ownership. This suggestion has been made by a Washington DC-based research and advocacy organization. Global Financial Integrity (GIF) studies and
See MoreEU: European Commission publishes Paper on Behavioral Economics and Taxation
Recently, the European Commission published working paper N.41, entitled "Behavioural Economics and Taxation" summarizing central parts of economic literature on integrated behavioural economic models that take into account both psychological and
See MoreUnited Kingdom – Tax compliance by suppliers under government contracts
The Cabinet Office has published a slightly revised version of the UK government’s procurement policy note, with measures to promote tax compliance. The note provides guidance on the government's policy on the use of the procurement process to
See MoreBrazil – Tax authority revises position on cross-border reimbursement arrangements
Brazil’s tax authority has issued a ruling to a taxpayer reflecting a change of position concerning cross-border cost reimbursement arrangements. Traditionally, the tax authority (Receita Federal do Brazil—RFB) has imposed a high tax burden of
See MoreNetherlands – Distinction between loan interest and dividend
The Netherlands Supreme Court (Hoge Raad) on 7 February 2014 issued two decisions affecting taxpayers. The first decision related to whether a payment would be regarded as interest on a loan or as a participation dividend paid on a share capital
See MoreUS: Senate democrat leader opposes Trade Promotion Authority renewal
The US Senate Majority Leader has expressed his opposition to the Trade Promotion Authority (TPA), despite the intention of President Obama to engage with Congress to pass the legislation providing for the renewal of the TPA. This opposition to the
See MoreUnited Kingdom – Proposals related to tax disputes and identifying scheme promoters
HM Revenue and Customs (HMRC) has issued consultation documents which include proposals for taxpayers to make accelerated payment of tax that is in dispute or subject to enquiry and for identifying “promoters” of tax avoidance schemes. The
See MoreRussia Considers Tax Break for Landlords
Russia's Economic Development Ministry has recently proposed cutting tax rates for citizens who lease their apartments. This measure aims to reduce the numbers of unregistered landlords. The proposal involves reducing the tax on rent revenues to
See MoreSpain to review tax system for families
Spain's Finance Minister has announced that the Government will review family tax reliefs ahead of the next tax reform. In a meeting, he has reiterated the Government's commitment to helping Spanish families and promoting equality of opportunities.
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