Argentina: 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 MoreSouth Africa: Tax Administration Laws Amendment Act 39 of 2013 promulgated
The Tax Administration Laws Amendment Act, 2013, has been promulgated as Act 39 of 2013 on 16 January 2014. The Act amends the Transfer Duty Act, 1949; the Income Tax Act, 1962; the Customs and Excise Act, 1964; the Value Added Tax Act, 1991; the
See MoreFrance- Transfer Pricing Rules
Draft legislation introducing a presumption that profits are received if functions and risks are transferred to a foreign related party, unless arm's length remuneration is paid, has been struck down by the Supreme Court and will not be implemented
See MoreItaly: Financial Transaction Tax (FTT) annual return model published
The Italian tax administration has issued the final Financial Transaction Tax (FTT) annual return model and the related instructions under Protocol No. 2013/154577. The FTT return should be filed by 31 March of every year, subject to a de minimis
See MoreBelgium: New tax rules on notional interest, small companies and withholding tax
The Official Gazette issue of 31 December 2013 notifies some new tax rules. The first measure aligns the rules relating to notional interest deductions (NID) with the judgment of the European Court of Justice in the Argenta Spaarbank case. The NID
See MoreBulgaria: Companies located in “preferential” jurisdictions banned from certain transactions
Bulgaria has enacted a new law, effective from 1 January 2014 which prevents companies located in “preferential tax regime jurisdictions” (and persons related to such companies) from receiving public funds, participating in privatizations in
See MoreArgentina: New “white” list of countries published
Argentina’s Federal Tax Authorities (AFIP) issued General Resolution 3576/2013 (published in the Official Gazette on 31 December 2013 covering the new list of the countries, jurisdictions, territories and tax systems that are considered
See MoreColombia: Proposal to Postpone the Scheduled Reduction of Financial Transactions Levy
It was published on 31 December 2013 that, during a jointly held session on 30 October 2013, the third and fourth permanent economic Constitutional commissions from both the Chamber of Representatives and the Senate approved, on first debate, bill
See MoreBrazil: IRS issued dispute resolution ruling on shared services
It has been published that, the latest federal administrative case law and contrasting private rulings issued by different sectors across Brazil on 26 December 2013, the General Coordination of Taxation (COSIT) issued an administrative ruling
See MoreCanada- Compliance issues regarding indirect tax during 2013-14
Many businesses will soon have to consider current changes to the GST/HST to fulfill upcoming tax compliance deadlines such as filing returns, making elections, and remitting indirect taxes though those give taxable profits or pension plans to their
See MoreMexico: Tax Reforms bill published
According to a media report Mexico reform tax bill on 23 December 2013, which might affect the direct and indirect taxation of corporate taxpayers, has been published in the country’s Official Gazette, completing the approval procedures. The
See MoreMexican Tax Reforms Gazetted
According to a media report on 23 December 2013 Mexico's tax reform bill, which includes measures affecting the direct and indirect taxation of corporate taxpayers, has been published in the country's Official Gazette, completing the enactment
See MoreUS 2014 tax season to open on January 31
The United States Internal Revenue Service (IRS) has declared that it plans to open the 2014 tax filing season on January 31 instead of the original opening date of January 21. The new opening date for individual to file their tax returns for 2013
See MoreHungary-VAT Act changes of 2014
Most of the changes to the VAT rules of Hungary are designed to bring Hungarian VAT further in line with the EU VAT Directive. According to the changes to the VAT rule the reverse charge mechanism will be extended to include property construction.
See MoreEU: Tax Mandate Adopted by Switzerland
It was reported that the Swiss Federal Council has adopted the instruction for negotiations on 20 December 2013 regarding a reconsideration of the tax savings agreement with the European Union. The EU ensures that the changes of this agreement are
See MoreExtension to the temporary exemption for commodities transactions in Peru
The tax authority of Peru published Resolution No. 355-2013/SUNAT in the Official Gazette on 12 December 2013. The Resolution would extend the temporary exemption for commodities transactions from the application of the withholding income tax regime
See MoreUS – IRS Issue Guidance for Tax-Exempt Entities
The United States Department of the Treasury and the Internal Revenue Service (IRS) have announced they are issuing initial guidance regarding qualification requirements for tax-exemption as a social welfare organization under section 501(c)(4) of
See MoreSwitzerland: Ruled against the replacement of VAT with Energy Levy
Value-added tax (VAT) in Switzerland to be replaced with a tax on energy has been rejected by The Swiss Federal Council. The council argued that in order to replacement of VAT because the rate of the energy tax will be very high and abolishing VAT
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