Brazil: Issues new Normative Instruction
The Brazilian Federal Revenue Department issued Normative Instruction (NI) 1568/15 on June 8, 2015. This has restricted the application of the cost adjustments in the calculation of the transfer price based on the Brazilian commodities methods
See MoreUnited States: ADD/CVD Roundup for May 2015
Following table shows the Federal Register notices related to ADD/CVD cases for May 2015 in United States. Belgium Stainless Steel Plate in Coils Antidumping or Countervailing Duty Order, Finding, or Suspended Investigation; Opportunity To
See MorePGA Highlights: May 2015
In United States, the following events have been taken place under the several PGA during the month of May 2015. Agencies Summary Link Federal Register Notice of intent to distribute offset for Fiscal Year 2015: According to the continued
See MoreArgentina: New tax treaty with Chile
The governments of Argentina and Chile signed a new treaty for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital and to Prevent Fiscal Evasion and Tax Avoidance in accordance with the OECD Model Convention on 15 May
See MoreFATCA Agreement Signed between United States and Romania
Romania and the United States have signed a Foreign Account Tax Compliance Act (FATCA) agreement on 28 May 2015. This is a Model 1 Agreement. Under this reciprocal agreement, Romania will report the information required under FATCA about U.S.
See MorePeru: New law on tax incentives for medium-sized, small and micro enterprises
In Peru, Law 30327 providing tax incentives for medium-sized, small and micro enterprises was published in the Official Gazette on 21 May 2015. According to the new law medium-sized, small and micro enterprises are now subject to tax under the
See MoreUS: Legislation on Permanent Research and Development Tax Credit
The US House of Representatives has passed legislation that would simplify and strengthen the research and development tax credit and has included the provision in the US tax code. Companies conducting their development programs will be able to
See MoreChile: Circular 30 regarding administrative interpretation published
A Circular 30 of the tax administration (Servicio de Impuestos Internos, SII) about SII's administrative interpretation concerning amendments introduced by Law 20,780 to the Income Tax Law and specifically, it contains the new article 41 G on CFC
See MoreCanada: Notice to implement tax provisions in Economic Action Plan 2015 and other tax measures
The Ministry of Finance has scheduled a complete notice of ways and means motion to implement certain tax provisions in Economic Action Plan 2015 and other tax measures on 5th May 2015. This notice contains the following measures and specific
See MoreUnited States: ADD/CVD Roundup for April 2015
Following table shows the Federal Register notices related to ADD/CVD cases for April 2015 in United States. Australia Silicomanganese Determination A-602-808 See the Federal Register notification Brazil Prestressed Concrete Steel Wire
See MoreTax agreement between Canada and Taiwan initialed
The Tax Agreement between Canada and Taiwan has been initialed on 1st May
See MoreUS: Propsed Amendment to Regulations Applicable to Refund and Credit Claims
The US Department of the Treasury and the Internal Revenue Service (IRS) have released Notice 2015-10 on 28 April 2015 announcing their intention to amend regulations applicable to refund and credit claims for amounts withheld on payments to foreign
See MoreCanada: Tax proposals in Manitoba budget 2015
The Ministry of Finance in Manitoba has delivered the province's budget for the year 2015. The budget does not propose any corporate or individual tax rate changes. The province budget 2015 proposals include: The Manitoba's budget increases the
See MoreArgentina – new installment plan for settling tax debts
The tax authority of Argentina (AFIP) has introduced a special installment plan through General Resolution No. 3727/2015 with the aim of helping taxpayers to settle tax, customs and social security debts by instalments in certain cases. The regime
See MoreChile: Tax administration clarifies tax treatment of gains from exclusion of shares
Tax administration has issued Ruling 1016 of 14th April 2015 which explains the tax treatment of gains from the alienation of shares issued by joint-stock companies incorporated in Chile. Those gains are omitted from income tax, inter alia, under
See MorePeru: Amendments to income tax regulations related to financial derivatives and tax basis on indirect transfers of Peruvian shares
In Peru changes have been made to the income tax regulations regarding financial derivatives and the tax basis on indirect transfers of Peruvian shares through Supreme Decree No. 088-2015-EF on 18 April 2015. The changes became effective as from 19
See MoreFATCA agreement between Netherlands and United States entered into force
The Foreign Account Tax Compliance Act (FATCA) Model 1A Agreement between Netherlands and United States entered into force on 9 April
See MoreUzbekistan and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement
Uzbekistan and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement on 3 April 2015. More specifically, Uzbekistan and the United States signed a Model 1 Agreement. Under this agreement, FFIs in Uzbekistan will report the
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