Czech Republic: Ministry of Finance holds conference on countering tax evasion
The Finance Ministry held a conference on 18th November 2015 regarding tax evasion and measures taken to counter it. It was reported that because of intensifying the fight against tax evasion and avoidance, public revenues had increased. In
See MoreChina: super deduction regulation update for qualified R&D expenses
On 2 November 2015, China’s State Administration of Taxation, Ministry of Finance and the Ministry of Science and Technology jointly released Cai shui No.119 to provide expanded scope and follow-up guidance of qualified industries and research
See MoreNetherlands: Lower House of the Parliament Adopted the Tax Plan 2016
The lower house of the parliament adopted the Tax Plan 2016 on 18 November 2015. The same was presented to the lower house of the parliament on 15 September 2015 by the Minister of Finance. The important measures were included on corporate tax and
See MoreNigeria: Implications of BEPS proposals
The Federal Inland Revenue Service (FIRS) has incorporated into its tax audit procedures certain of the recommendations included in the OECD’s base erosion and profit shifting (BEPS) project. For instance, the tax authority is scrutinizing
See MoreCzech Republic: Control form to counter VAT fraud to be postponed
The government has submitted a bill to parliament that would postpone the announcement of the "control form" to counter VAT fraud till 1st January 2017. Primarily, the filing requirement of the form applies with effect from 1st January 2016. The
See MoreSaudi Arabia-publishing of new Companies Law
The Ministry of Commerce and Industrial declared on 9 November 2015 that the new Companies Law (NCL) will come into force after 150 days of its publication in the Saudi Official Gazette. According to the new law only one shareholder will be able to
See MoreCzech Republic: Amendment to law on international cooperation in tax administration
The Government has submitted a bill to the Parliament on 10th November 2015 regarding changes to the law on international cooperation in tax administration. The Bill must be accepted by both chambers of the parliament and signed into law by the
See MoreSlovak Republic: Concept of ‘company in crisis’ in introduced into Commercial Code
The amendment to the Slovakian Commercial Code introduces the concept of a “company in crisis”. It will be effective from 1st January 2016. A company is regarded ‘in crisis’ if it is: Bankrupt; or The share of its equity and
See MoreSouth Africa: SARS issues revised tax guide for foreign workers
The South African Revenue Service (SARS) has revised its guide for individuals not resident in South Africa about the tax treatment of South Africa-sourced income. The guide addressed the point that foreigners working in South Africa are only
See MoreCzech Republic: Income Tax Law amendment submitted to parliament
It has been reported that the government submitted an amendment to the Income Tax Law to the parliament which presents corporate and individual income tax changes. The bill must be approved by both chambers of the parliament and signed into law by
See MoreKazakhstan: Bill regarding social health insurance sent to Senate
A bill about compulsory social health insurance contributions has been introduced and was sent to Senate on 8th October 2015. This bill is about a new social health insurance system to be launched from 2017. In calculating social health insurance
See MoreSpain: Partial amendments of general tax law
Spain has published the official Gazette regarding partial amendments of general tax law which was amended on 22 September, 2015 as a Law no.34/2015. The Law will enter into force on 12 October 2015 except for the obligation to keep specific
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 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 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 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 MoreMexico: Tax reform proposal submitted to congress
The Mexican tax reform proposal presented to congress on September 8, 2015 which includes supplementary transfer pricing documentation requirements in line with the three-tiered approaches of Action 13 of the OECD like master file and local file
See MoreRomania enacts new Fiscal Procedure Code
The Romanian tax authority has published the revised Fiscal Procedure Code in the Official Gazette no. 545 dated 23 July 2015. The existing Fiscal Procedure Code is being updated by Law 207/2015 implementing new provisions with respect to tax
See More