Netherlands – 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.
See MoreRussia considers Tax on Foreign Online Retailers
Russia is considering whether to levy a 30 percent tax on imports from foreign online retailers and restrict the number of parcels imported. The proposed tax, which would be imposed on imports worth more than RUB7, 000 (USD 202), is intended to
See MorePeru: Changes to “frequent importers” regime
On 11 January 2014, the tax administration of Peru issued a resolution establishing changes to the “frequent importers” regime (Relación de Importadores Frecuentes). Resolución No. 00002-2014-SUNAT/300000 offers a list of the importers
See MoreMalaysia Confirms Change of Policy on Vehicle Excise Tax Cut
Despite last year's election manifesto promise, and persistent calls for a reduction in Malaysia's high car prices, the International Trade and Industry Minister has confirmed that the Government has no plans to reduce vehicle excise duties at the
See MoreJapan Studies Corporate Tax Rate Cut for Growth Strategy
Japan's Prime Minister is looking again at lower corporate taxes to provide a new impetus to growth in the economy. The Finance Minister has however again cast doubt on whether such a policy is viable at the present time. In a meeting of the
See MoreIreland: Anti-VAT fraud measures
To prevent fraud in Irish VAT compliance, the Irish government introduced a number of measures through its Finance Bill which came into effect from 1 January 2014. VAT registered businesses will have to refund to the Irish Revenue any deducted input
See MoreHong Kong: Tax concession for captive insurance companies
On 8 January 2014 legislation was introduced into the Legislative Council to provide a profits tax concession to captive insurance companies for profits from their business of insurance of offshore risks. These profits are to be chargeable to
See MoreEU Steps Up Actions to Decelerate Custom Fraud
The European Commission expressed their intention to strengthen their effort to anti-fraud operations with the cooperation of the customs and tax authorities. As a part of its six-month European Union (EU) Presidency, Lithuania organized a Joint
See MoreAustralian Government restates commitment to lower taxes
The Australian Prime Minister has reiterated his election pledge for “lower, simpler, fairer taxes,” and the new government will draw up a tax reform white paper within two years. Recommendations in the white paper shall be part of the platform
See MoreHungary dismisses OECD Tax Advice
The Hungarian government has rejected OECD proposals for major tax reforms, covering a new property tax as well as energy, environmental, inheritance and wealth taxes. The Minister of Economic Strategy has said that tax reform is complete and no
See MoreECJ to investigate Portuguese exit tax
The European Court of Justice (ECJ) will investigate tax residency rules in Portugal; this results from a referral by the European Commission which considers the Portuguese rules applicable to taxpayers who are no longer resident in the country to
See MoreChina: Shanghai Free Trade Zone implemented
The China (Shanghai) Pilot Free Trade Zone (SFTZ) is an important milestone in economic policy and may lead to broader financial and economic reforms. The SFTZ is geared towards services industries and promotes not only trading but also investment.
See MoreArgentina: White List Available
The Argentinian tax administration (AFIP) issued Resolution No 3576 on 7 January 2014, which makes public the white list of cooperative jurisdictions, effective from 1 January, 2014. Countries not in the white list are to be treated as “not
See MoreArgentina: New income tax on specific exports
Argentina issued Resolución General N°3577/2013 on 7 January 2014 that establishes a new income tax (Impuesto a las Ganancias) on transactions where goods are exported to a foreign jurisdiction other than the jurisdiction billed for the
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