Angola introduces amnesty measures with foreign technical and management services contracts
On 28 December 2018, Angola published Law no. 18/19 with the General State Budget for 2019. The main procedures are summarized as follows: The Special Contribution on technical support and management service contracts were maintained in 2019. The
See MoreUK: HMRC publishes guidance on taxation of cryptoassets
On 19 December 2018 HMRC published a paper on the taxation of cryptoassets for individuals. HMRC defines cryptoassets or cryptocurrencies as cryptographically secured digital representations of value or contractual rights that can be transferred;
See MoreUS: IRS announces priority guidance plans addressing many new international tax issues
On 8 November 2018, the US Treasury and IRS published its 2018–2019 Priority Guidance Plan, detailing tax guidance the government intends to focus its effort on in the coming months. The Guidance Priority List focuses resources on guidance items
See MoreUK: Consultation on the Corporate Capital Loss Restriction
On 29 October 2018 the government published a consultation document in relation to a restriction on the offset of corporate capital losses. The government is inviting comments from companies likely to be affected by the capital loss restriction and
See MoreUK: Consultation on Consideration Rules for Stamp Taxes on Shares
On 7 November 2018 the UK government published a consultation paper entitled Stamp Taxes on Shares: Consideration Rules requesting comments from interested parties on changes to the Stamp Duty and Stamp Duty Reserve Tax (SDRT) consideration rules.
See MoreUK: Summary of responses on consultation on public sector licensing
On 7 November 2018 the UK government published a summary of responses to the consultation entitled Tackling the hidden economy: public sector licensing, launched in December 2017. Consultation document The original consultation document examined
See MoreUK: Responses to consultation on ensuring tax compliance by users of online platforms
On 7 November 2018 the UK government published a summary of responses to a consultation on the role of online platforms in ensuring tax compliance by their users. The government received 41 written responses with comments from online platforms,
See MoreUK: Summary of responses to consultation on tax abuse and insolvency
On 7 November 2018 the UK government published a summary of responses to the consultation on tax abuse and insolvency held earlier in 2018. In April 2018 the government issued a consultation document exploring ways to combat the deliberate abuse of
See MoreUK: Summary of responses to consultation on corporate intangibles regime
On 7 November 2018 the UK government published a summary of responses to the consultation on reforms to the corporate intangibles regime. The corporate intangibles regime was introduced in 2002 and provided companies with relief for the cost of
See MoreUK: Consultation document on digital services tax
On 8 November 2018 the UK government issued a consultation document on the proposed digital services tax. Comments are invited from interested parties before 28 February 2019. As part of the budget proposals the Chancellor of the Exchequer
See MoreUK: Budget Proposals for 2018
The UK budget proposals for 2019/20 were announced on 29 October 2018. Proposed measures include the following: Digital services tax The digital services tax will apply to large tech companies with global revenues of more than GBP 500 million per
See MoreUK: Digital services tax to be introduced
The UK Budget announcements on 29 October 2018 included a proposed new tax on large digital services companies such as search engines, social media platforms and online marketplaces. The tax would take effect from 1 April 2020. The digital services
See MoreUK: Revisions to double tax agreement with Slovenia
The UK's bilateral double tax treaty with Slovenia has been updated as a result of changes made under the OECD’s multilateral instrument (MLI) for inclusion into bilateral treaties of tax treaty related provisions from the action plan on base
See MoreUK: Date of autumn budget 2018 announced
The UK has announced that the autumn budget proposals will be announced on 29 October 2018. The date is earlier than in previous years and appears to have been moved forward to avoid coinciding with important talks on Brexit that take place in
See MoreIMF report looks at Chile’s economy and tax reforms
On 20 September 2018 the IMF issued a report on the economic position of Chile following consultations under Article IV of the IMF’s articles of agreement. Chile has experienced strong economic growth in 2018 and is expected to reach around 4%
See MoreUS: IRS publishes draft form regarding the “base erosion and anti-abuse tax” (BEAT)
On 5 September 2018, the United States (US) Treasury and the Internal Revenue Service (IRS) released a draft of Form 8991 concerning the “base erosion and anti-abuse tax” (BEAT) reporting for 2018. In an effort to " level the playing field
See MoreUK: government issues guidance on VAT post Brexit
On 23 August 2018 the UK government issued guidance notes on implications of a so-called “no deal” Brexit, in other words the possibility that the UK leaves the European Union without an arrangement in place with the EU for the post-Brexit
See MoreUK Chancellor Considering Tax on Revenues of Online Retailers
In an interview published on 10 August 2018 the UK Chancellor of the Exchequer stated that large online retailers should be subject to a new tax on their revenues in the UK. This would aim to ensure fair taxation between high street retailers and
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