Italy- Tax Court Renders Decision on “Best Method” Rule
Recently Italy’s Regional Tax Court of Lazio has given an important decision regarding the selection of methods for determining inter-company prices. An Italian company acting as toll manufacturer on behalf of a related foreign company, set
See MoreAutomated Transactions Tax has been approved by the French Senate
The French Senate approved plans to establish a tax on automated transactions in France, on 23 November 2011, to curb the rapid rise in high frequency trading. The new initiative proposes to impose from January 1, 2012, a tax on certain investment
See MoreAnnulment of contractors’ tax by US
The United States Congress has finally approved a legislation to repeal the 3% withholding tax on payments made to contractors providing services to government entities. The bill was passed in the House of Representatives on a bipartisan vote. When
See MoreChina plans VAT and Service tax reform in Shanghai
Chinese State Administration of Taxation published a new proposal for Chinese VAT and Business Tax reforms plans for a 2012 to consolidate the overlapping between VAT and Business Tax. The pilot scheme is proposed to take place in Shanghai and the
See MorePropensity to increase tax revenue: Philippines parliament
Instead of enacting new laws, the Speaker of the Philippines House of Representatives, Feliciano Belmonte, urged to prioritize measures that would plug loopholes in the country’s tax system and rationalize the tax incentives law. Bills that would
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