Colombia: Decree Listing Tax Havens
Colombia’s Ministry of Finance and Public Credit on 7 October 2013 issued Decree 2193. That Decree includes a list of the countries, jurisdictions, domains, associated states or territories which are tax havens for tax purpose. Jurisdictions like
See MoreChina: Enterprise income tax treatment from technology transfers
The State Administration of Taxation (SAT) of China issued a bulletin which states that revenues from technical advice, technical services and technical training, in relation to technology transfers will be included under the enterprise income tax
See MoreChina: Circular providing tax breaks for eligible enterprises for Government-led shanty town renovations
The Finance Ministry of China on 28 October 2013 released a circular that announced tax breaks for eligible enterprises that are involved in government-led shanty town renovations. This is part of an effort to encourage participation in the
See MoreCanada – QST changes in Quebec
A business with total taxable supplies and those of the business' associates exceed $10 million for the preceding fiscal year is considered as large business. The Quebec Revenue recently published extra information regarding the upcoming repeal of
See MoreBrazil’s Tax Treatment on shared costs
Brazil’s tax authorities published guidance concerning the treatment of social contributions and it related to expenses and cost shared by the taxpayer groups, on 29 October 2013. It is intended to clarify the treatment and apportionment of PIS
See MoreSignificant Changes to Brazilian Tax Legislation
The Brazilian Ministry of Finance has announced significant changes to the way it will tax profits sourced from abroad, on 18 October 2013. The stated aim is to increase the competitiveness of Brazil as a business location and bring it into line
See MoreBelgium: Audits on corporate withholding tax
The Finance Ministry of Belgium has unveiled plans to tighten the rules next year for companies which fail to settle their professional wage-withholding tax obligations for compensation paid out to company directors. The requirements are not being
See MoreAustralia: GST fraud in gold industry is in target
The Australian Tax Office (ATO) on 30 October 2013 announced that it is investigating companies within the gold bullion sector for a total of AU$65 million ($61.5 million) of alleged goods and services tax (GST) fraud. The investigation is a part
See MoreSwitzerland: Terminates Tax Rebate Committee
It has been announced that, the Swiss Federal Council has issued plans to eliminate the Federal Committee (CFR) responsible for federal direct tax rebates. The Federal Council is establishing new provisions for federal direct tax rebates. The CFR is
See MorePeru – Due dates for submitting transfer pricing affidavits and technical studies for 2012
The Peru’s tax authorities (SUNAT) issued Resolución de Superintendencia N° 301-2013/SUNAT which became effective from 6 October 2013. The resolution has scheduled dates in November 2013 for taxpayers to submit their transfer pricing affidavits
See MoreLithuania – Regulation for VAT on credit, debit documents
An observation has been issued concerning provisions under Lithuania’s value added tax (VAT) law regarding credit notes and debit documents. The guidance describes as when: a condition to issue a credit VAT letter or a debit certificate
See MoreTax Certificates for residence issued by Czech tax authorities should have an apostille
The Russian Ministry of Finance has published Letter No. ОА-4-13/7891 on October 14, 2013, issued on April 29, 2013, clarifying the requirements for certificates of tax residence issued by the Czech tax authorities for the purposes of application
See MoreRussia: Deductibility of taxes, duties and other charges paid by Russian taxpayers in other states
The Russian Ministry of Finance has issued a Letter No. N 03-03-06/2/41278 regarding the deductibility of taxes, duties and other charges paid by Russian taxpayers in other states. By this letter, the Ministry of Finance confirms its new position
See MoreCzech Republic: Tax rates for investment funds proposed
In Czech Republic, pending legislation has approved by the Senate would give the following tax rates for investment funds: On investment funds -5% corporate income tax rates On payment of profit shares -15% withholding tax rates Investors which
See MoreCroatia: Constitutional Court decision
The Constitutional Court gave its final decision and repealed article 16(3) of the Law on the amendments to the individual income tax law on 18 September 2013. This article retroactively enforced taxation on income from dividends and participation
See MoreUS – Final regulations on determining amount of tax paid for purposes of the foreign tax credit
Final regulations (T.D. 9634) providing guidance on determining the amount of taxes paid for purposes of the foreign tax credit (FTC) has been issued by the IRS. These final regulations adopt without substantive changes, the proposed regulations
See MoreRelaxation of VAT penalties in Peru
The Peruvian tax authority published Resolution No. 277-2013/SUNAT which became in force from 8 September 2013. The resolution has relaxed the application of penalties in the VAT Collection
See MoreIndia: CBDT amends rules relating to furnishing information on payments to nonresidents
India’s Central Board of Direct Taxes (CBDT) allotted Notification No. 67/20131 on 2 September 2013, revising the existing Rule 37BB of the Income Tax Rules 1962 which recommends the system for furnishing information electronically by a person
See More