PGA Highlights: November 2013
In United States, following events have been occurred under the several PGA during the month of November 2013. Agencies Summary Link Federal Register Fresh Beans, Shelled or in Pods Importation from Jordan into the Continental United States: A
See MoreMexico: Congress passed budget for 2014
The Mexican lower house of Congress has passed the federal budget for 2014, which proposes running a deficit in 2014 to lift the country’s economy on 14 November of 2013. The budget will increase the tax revenue by around 2.5% of GDP by 2018. The
See MoreArgentina-Introduces surcharge on foreign currency
The Argentine Federal Tax Authorities (AFIP) issued General Resolution No. 3550/2013 which has become effective on 3 December 2013. The general resolution increases the scope of the reverse withholding surcharge which will be applicable to certain
See MoreUnited States: ADD/CVD Roundup for November 2013
Following table shows the Federal Register notices related to ADD/CVD cases for November 2013 in United States. Country Product Investigations Case Number Links China (PRC) Silica Bricks and Shapes Final Determination of Sales at
See MoreFrance and the US signed FATCA Intergovernmental Agreement
On 14 November 2013, the US and France signed an Intergovernmental Agreement (IGA), in order to improve international tax compliance and to implement the US Foreign Account Tax Compliance Act. The FATCA legislation aims to ensure that US citizens
See MoreCanada-Luxembourg: DTC Protocol Entry into force
The Protocol amending the double taxation Convention between Canada and Luxembourg has entered into force on December 10, 2013 and was actually signed on May 8,
See MoreChile- New Bill is proposed to limit taxation of Senior Citizens
The Finance Minister of Chile proposed a new bill on November 8, 2013 for limiting the amount of tax payable for senior citizens with low incomes. The measure is taken to help the poorer people of this nation. The bill states that if an individual
See MoreCanada -Partnership information return for 2013
The Canadian Revenue Agency (CRA) has issued revised guidance for partnership information returns (Guide T4068), Guide for the Partnership Information Return (T5013 Forms) for the year 2013. The Guide T4068 contains changes to the forms, schedules
See MoreCanada – Making Declaration of proposed tax changes in Ontario
The Finance Ministry in Ontario has declared proposed measures to increase the tax rate on “non-eligible dividends” of up to 3.9% which was effective from January 1, 2014. Other proposed measures would include: Certain research and development
See MoreCanada will balance budget in 2015 without raising taxes
The Finance Minister of Canada released economic and fiscal projections annual update on that reports that the government is on the right track to balance the budget in 2015 without raising taxes. The government desires to balance the budget without
See MoreBrazil established new tax accounting rules
A provisional measure was published in Brazil on 15 November 2013, to establish new tax accounting rules which rescinds the transitional tax regime method and establishes the new tax rules to align Brazil’s tax accounting rules with the current
See MoreUS: FATCA reporting – Draft Version of Form 1042-S
On 4 November 2013, the Internal Revenue Service has released new draft instructions for the 2014 Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding. The new draft version has been adapted to reflect new requirements under the
See MoreUS: District of Columbia Introduces Prepaid Card Option For Tax Refunds
The District of Columbia Office of Tax and Revenue (OTR) has announced a new option taxpayers can choose to receive their local income tax refunds. Beginning next year, a prepaid card will be available as an alternative to paper checks and direct
See MoreUS Bill Introduced To Simplify Mobile Workers’ Taxation
United States businesses have welcomed the introduction into the Senate of a bill, the Mobile Workforce State Income Tax Simplification Act, which would simplify tax reporting requirements for those workers who are employed in multiple state
See MoreCanada-Serbia DTA enters into Force
The revenue agency declared that the Double Taxation Agreement (DTA) between Canada and Serbia has entered into force on October 31, 2013 and it was actually signed on April 27, 2012. On the basis of this agreement, a 5% tax withheld will be levied
See MoreNew DTA between Argentina and Switzerland
The governments of Argentina and Switzerland initialed a new double taxation agreement on 5 November 2013. The agreement will promote foreign investment and ensure legal certainty. If the final text of the agreement is approved by the two countries
See MoreColombian Sales Tax on Exports Get Exemptions
According to Decree of 2223 of 11 October 2013, the Colombian tax office has issued up-to-date guidance on the rules for applying VAT exemption on the export of services to foreign corporations. The conditions which must be present to qualify for a
See MoreCanada ratifies MIDT
The Government of Canada has ratified the Convention that was initiated for signature in 1965, and entered into force the following year on the adjustment of Investment Disputes between States and Nationals of Other States. According to
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