Venezuela: Amendment in Corporate Income Tax Law
A Presidential Decree No. 1.435 changes the Income Tax Law has released in official Gazette No. 6.152 of 18th November 2014 and applies to the taxable periods that start from 1st January 2015. The major amendments to the corporate income tax are
See MoreUS And Cyprus Sign FATCA Intergovernmental Agreement
An intergovernmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) has signed between Cyprus and the United States, on December 2, 2014. Under the agreement, Foreign Financial Institutions (FFIs) in Cyprus
See MoreUAE: Complying with the United States FATCA
The Dubai Financial Services Authority (DFSA) dispensed a letter to Dubai International Financial Center (DIFC), on 1 May 2014, regarding a program to collaborate with the United States on Foreign Account Tax Compliance Act (“FATCA”) compliance.
See MoreArgentina: New decree creates for monitoring transfer pricing rules
Tax Authority has published Decree 2103/2014 on 17 November 2014, in order to created a special unit to monitor cross-border trade and coordinate the work of the various government bodies to ensure the correct application of the law on international
See MoreCanada Revenue Agency’s findings on research tax credit
The tax credit program of Scientific Research and Experimental Development (SR&ED) proposes generous incentives for business undertaking eligible research or experimental development work and it has administrated by the Canada Revenue Agency
See MoreDTA between Argentina and Switzerland approved by Argentine Chamber of Deputies
The Chamber of Deputies in Argentina last week approved the Income and Capital Tax Treaty between Argentina and Switzerland. The treaty concerns both income tax and capital gains, and it was signed in March 20, 2014. Furthermore it was already
See MoreExchange of Information Agreements (TIEAs) between South Africa and Argentina enters into force
According to media reports, the tax information exchange agreement (TIEA) signed between South Africa and Argentina entered into force on November 28, 2014. The Agreement shall apply to any identical taxes imposed after the date of signature of the
See MoreUS Imposes Preliminary Anti-Subsidy Duties On Chinese Tires
The U.S. Commerce Department has set preliminary anti-dumping duties ranging from 12.5 percent to 81.29 percent on tires imported from China. Five years ago, following a previous USW complaint, the US imposed AD and CVD tariffs on similar Chinese
See MoreFATCA Agreement Sign Between Barbados And United States
The Government of Barbados and the United States have signed an inter-governmental agreement (IGA), on 17 November 2014, to facilitate compliance with the US Foreign Account Tax Compliance Act (FATCA). Under the agreement, Foreign Financial
See MoreVenezuela: President signs off on tax increases
In order to increase and diversify government revenue, Venezuela`s President has accepted tax increases on 18th November 2014. 28 laws have been passed to incorporate an increment in the excise duty for buying luxury goods from 10% to 15%. This
See MoreCanada: Pension contribution boundaries for 2015
The Canada Revenue Agency (CRA) has declared the 2015 contribution bounds for retirement-related and pension plans. It incorporates Money Purchase Registered Pension Plans, Registered Retirement Savings Plans, and Deferred Profit Sharing
See MoreVenezuela: Amendments contain income tax and VAT
The president has declared the enactment of a series of laws to notice the economic development in Venezuela on 18th November 2014. These laws includes the following tax related items: Income tax reformation to raise tax collection via the
See MoreHungary: Presents tax laws for 2015
The tax laws for 2015 were presented to the parliament by the government on 28 October 2014. According to the tax laws, some changes for 2015, would include in the definition of related parties an additional provision relating to entities where
See MoreVenezuela: Increment of Monthly Minimum Salary (MMS)
The Decree 1.431 has released in Official Gazette No. 40.542 on 17th November 2014 to increase the Monthly Minimum Salary (MMS) from VEF 4,251.40 to VEF 4,889.11 and it will be applicable from 1st December 2014. As the taxable base, the increment of
See MoreSweden: Ratification of TIEAs with Grenada and Macau
Sweden has ratified its TIEAs with Grenada and Macau on November 5,
See MoreCanada-Spain Signs protocol to Income and Capital Tax Treaty
The amending protocol to Income and Capital Tax Treaty (1976) between Canada and Spain has signed on 18th November 2014 in Madrid. The protocol was authorized by the Spanish Cabinet on 17 October 2014. The Protocol would enter into force after a
See MoreU.S. Chamber of Commerce Strengthens Commitment to U.S.-Brazil Relationship
The United States Chamber of Chamber (USCC)-affiliated Brazil-US Business Council (BUSBC) signed a Cooperation Agreement with the Brazilian National Confederation of Industry (CNI) to conduct studies on a potential trade agreement and report back
See MoreUS: IRS Issues Guideline On Individual Retirement Arrangement (IRA) Rollover Rule
The Internal Revenue Service (IRS) has issued guidance regarding clarification of the impact of a rollover from one Individual Retirement Arrangement (IRA) to another on the one-per-year limit on tax-free rollovers. This reflects a policy change
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