Denmark’s parliament approved two bills regarding DTA
On May 24, 2012, Denmark's parliament approved two bills that would ratify the double taxation agreement (DTA) signed between Denmark and Hungary, and a Protocol amending the DTA signed between Denmark and
See MoreCanada and Poland signed a Protocol to amend the existing DTA
On May 14, 2012, Canada and Poland signed a Protocol to amend the existing 1987 double taxation agreement (DTA). The Protocol in particular lowers the rates of withholding tax applicable under the
See MoreNegotiation concluded between China and Ecuador towards DTA
On 11th May 2012, China and Ecuador concluded four days of negotiations towards a double taxation agreement
See MoreUS President forwards DTA between Chile and the United States to the Senate
On 17th May 2012, United States President Barack Obama forwarded the pending double taxation agreement (DTA) signed between Chile and the United States on February 4, 2010, to the Senate as part of the ratification procedures necessary to bring the
See MoreDTA between China and Ecuador under negotiation
China and Ecuador held the first round of their negotiations towards a double taxation agreement (DTA) during five days of meetings in Beijing, which concluded on May 11,
See MoreMexico and Qatar Sign DTA
On May 14, 2012 Mexico’s Deputy Secretary of the Treasury and Public Credit and Qatar's Director of Public Revenues and Taxes signed a double taxation agreement (DTA) between their two countries. It can be expected that the agreement will
See MoreUruguay to Exchange Tax Information with Argentina
On 1 May 2012 it was reported that Uruguay has agreed to share tax information with Argentina, under a landmark double tax agreement recently signed between the two nations. Uruguay's economy minister, Fernando Lorenzo has said that the terms of the
See MoreCanada Promotes Budget’s Trade Benefits
Canada's 2012 Budget will help expand trade and open new markets for businesses, the Minister in charge has said. Ted Menzies, the Minister of State (Finance), spoke at the Economic Club of Canada in Ottawa to promote the benefits of the new Budget,
See MorePeru to Boost Tax Take
On 22 March 2012, Peru's Finance Minister announced that Peruvian authorities are to target non-compliant taxpayers, aiming to boost the tax take by 2.5% of gross domestic product (GDP) within a four-year period, whilst maintaining tax rates. The
See MoreBrazil, Mexico Clash over Auto Agreement
According to reports on 19 March 2012 the Mexican government has resisted the Brazilian government's request to significantly limit car imports for the next three years in talks initiated after Brazil threatened to walk away from a long-standing
See MoreUS Senate Passes Highways Tax Bill
On March 14, 2012, the United States Senate passed, on a bipartisan basis, a bill to provide for an extension of highway-related taxes and the funding of infrastructural spending by the Federal Highway Trust Fund (FHTF), which included an anti-tax
See MoreUS: IRS has new online tool for “Lower-Paid Taxpayers”
As part of its effort to improve service to taxpayers, the United States Internal Revenue Service (IRS) has announced the availability of a new online tool to help taxpayers to find more easily a location for volunteer tax preparation
See MoreFTA between Peru and Mexico Comes Into Force
An updated free trade agreement (FTA) between Peru and Mexico, which extends preferences to 12,000 tariff lines, entered into force on February 1, 2012. The agreement, signed on April 6, 2011, supersedes the existing 8th Economic Complementation
See MoreArgentina: Import Taxes on Luxury Vehicles are increased
To support its domestic car manufacturing industry the Argentine government has announced a change to the country’s customs duty regime and introduced higher taxes on imported vehicles and motorbikes. According to the statement through a
See MoreBudget deficit is shrinking in Canada
According to the latest Fiscal Monitor published by the Canadian Ministry of Finance the Canadian monthly budgetary deficit has fallen remarkably per annum. According to them the revenue increased by 8.1% each year as a result of higher personal
See MoreCanada: Corporate tax filing rules amended
The tax deferral rules are to be amended in Canada’s corporate partnership to extend the time available to companies to file an alignment election. According to the existing regime corporate partners can choose the fiscal period of their
See MoreTax Cuts in Brazil
The Brazilian Finance Minister announced a number of tax cuts, including financial transactions tax, known as IOF. According to this plan, foreign purchases of corporate bonds with maturities of over four years, and local equities, would be no
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 More