Greece: Draft Budget 2017 has been submitted to parliament
The draft Budget for 2017 has been submitted to the parliament (Committee of Economic Affairs) on 3rd October 2016. Now, it is available on the official website of the Finance Ministry. The following main things are enclosed with the Budget:
See MoreUK: HMRC survey of mid-sized businesses
n 25 August 2016 HMRC published the results of a survey of mid-sized businesses. This covers the types of business dealt with by HMRC’s Mid-Size Business Unit. These businesses are seen by HMRC as a distinct group owing to their contribution to
See MoreUK: Consultation on making tax digital for unincorporated businesses
On 15 August 2016 HMRC issued a consultation document on Making Tax Digital: Bringing business into the digital age. The UK government announced at Budget 2016 that businesses, the self employed and landlords will be required by 2020 to update a
See MoreOECD: Addressing BEPS involving interest in the banking and insurance sectors
On 28 July 2016 the OECD issued a discussion draft outlining approaches to combating base erosion and profit shifting (BEPS) involving interest in the banking and insurance sectors. This is part of further work following the final report on BEPS
See MoreOECD: Kyoto meeting takes forward the new inclusive framework for tackling BEPS
An initial meeting was held in Kyoto on 30 June and 1 July 2016 to take forward the new inclusive framework for tackling base erosion and profit shifting (BEPS). Delegates representing more than 80 countries at various stages of development
See MoreOECD: Guidance on implementation of country by country reporting
On 29 June 2016 the OECD published guidance on aspects of country by country (CbC) reporting. The guidance covers the following aspects: Transitional filing options for multinationals voluntarily filing in the parent jurisdiction; The
See MoreEU agrees on draft Directive on anti-avoidance
On 21 June 2016 the EU’s Economic and Financial Affairs Council reached agreement on a draft Directive on tax avoidance practices following expiry of the required period for further issues to be raised. The draft Directive will be presented for
See MoreEU Finance Ministers reach preliminary agreement on tax avoidance proposals
It is reported that on 17 June 2016 the EU finance ministers reached preliminary agreement on a modified version of the European Commission’s proposals on countering tax avoidance originally released at the beginning of 2016. Original
See MoreIMF working paper looks at policy adjustments required in MENA and CCA countries
On 8 June 2016 the IMF published a Middle East and Central Asia departmental paper on “Learning to Live with Cheaper Oil: Policy Adjustment in Oil Exporting Countries of the Middle East and Central Asia”. The paper looks at policy challenges in
See MoreIMF report comments on economic situation of Czech Republic
On 16 May 2016 the IMF published a report following conclusion of talks with the Czech Republic under Article IV of its articles of agreement. Following a 4.2% expansion of the economy in 2015 growth in the Czech Republic is expected to slow
See MoreOECD: Forum on Tax Administration discusses international tax cooperation
Participants from forty-nine delegations including regional and international tax organizations attended the Tenth Meeting of the OECD Forum on Tax Administration from 11 to 13 May 2016. The delegates confirmed their commitment to continuing
See MoreChile: Government declares a bill to boost productivity
The Ministry of Finance declared on 6th May 2016 that the government had approved a bill to increase productivity. Tax measures contain: Expand the definition of export services to incorporate further services for VAT exemption upon
See MoreECJ ruling on VAT on immovable property
On 28 April 2016 the European Court of Justice (ECJ) gave its preliminary ruling in the case Staatssecretaris van Financiën v. Het Oudeland Beheer BV . The case had been referred to the ECJ by the Hoge Raad der Nederlanden (Netherlands Supreme
See MoreWTO Public Forum 2016 to discuss inclusive trade
The World Trade Organization (WTO) is to hold its Public Forum 2016 in September 2016 with the theme of inclusive trade. The Public Forum will discuss how a broader range of businesses and individuals can become involved in the world trading system
See MoreECJ: Advocate General rules on conditions for VAT exemption on intra community supply
The Advocate General of the European Court of Justice (ECJ) ruled on 6 April 2016 in the case Josef Plöckl v Finanzamt Schrobenhausen. The case had been referred to the ECJ for a preliminary ruling on the following question: Do article 22(8), the
See MoreUK: Public Accounts Committee publishes report on tackling tax fraud
The UK parliament’s Public Accounts Committee (PAC) has published the results of an inquiry into how the tax administration HMRC is tackling tax fraud. The report entitled Tackling Tax Fraud was published by the PAC on 15 April 2016. As part of
See MoreWTO: Trade Policy Review of Ukraine
Ukraine acceded to the World Trade Organization (WTO) in 2008. The WTO’s first review of the trade practices in Ukraine took place on 19 and 21 April 2016. A detailed report was prepared by the WTO Secretariat in connection with the trade
See MoreUK: Consultation on reform to disclosure of VAT schemes and IHT hallmark regulations
On 20 April 2016 HMRC published a consultation document on reforms to the legislation on disclosure of value added tax (VAT) avoidance schemes and inheritance tax hallmark regulations for the purposes of the Disclosure of Tax Avoidance Schemes
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