Measures on Business Centers passed
The Bill on Measures for Asian Business Centers was passed by the Diet on 27 July 2012. This measure is intended to encourage global companies to establish their R&D centers and Asian headquarters in Japan. The legislation grants incentives
See MoreThe Malaysian Budget for 2013
The Malaysian Budget for 2013 was presented by the Prime Minister (also the Finance Minister) on 28 September 2012 and is generally effective from year of assessment 2013 unless otherwise stated. Key points of the budget are summarized
See MoreIndonesia – Potential changes to the transfer pricing regulations
The Director General of Taxation of Indonesia has recently focused on transfer pricing, proposing some changes to the existing transfer pricing rules. However, these proposals are not yet final and some changes may be made before the final issuance
See MoreIncome Tax Treaty between Turkey and Philippines
Philippines and Turkey signed an Income Tax Treaty on March 2009, for the avoidance of double taxation. The treaty was concluded in both the Turkish and English language with each text having equal authenticity. The maximum withholding tax rate on
See MoreIncome Tax Treaty between Thailand and Taiwan
Thailand and Taiwan signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion on 3 December 2012. An agreement was originally signed by the two countries on 9 July 1999, but the government of Thailand failed to
See MoreIncome Tax Treaty between Philippines and Turkey
The Philippines and Turkey signed an Income Tax Treaty in March 2009. Details of the treaty have become available. The treaty was concluded in both Turkish and English with each text having equal authenticity. The maximum withholding tax rate on
See MoreDouble Tax agreement between New Zealand and Papua New Guinea
New Zealand and Papua New Guinea have recently signed a double tax agreement which will help to reduce impediments for doing business between the two countries. The agreement will come into force after both countries have completed the required
See MoreAustralia – Proposed amendments of transfer pricing rules
The Australian Assistant Treasurer has recently Tax Laws Amendment (Cross-Border Transfer Pricing) Bill 2013: Modernization of transfer pricing rules,in which changes to transfer pricing rules were proposed. The new law focuses mainly on
See MoreChina opposes European Union (EU) emissions tax
The European Union's (EU) tax on non-EU international airlines for their carbon emissions has once again come under fire from China. China's chief negotiator to the ongoing United Nations climate change talks, Xie Zhenhua, has said that while China
See MoreTaiwan Announces Income Tax Cuts
It has been published on 28 November 2012 that the Ministry of Finance has announced that, because of the inflation linkage within Taiwan's tax code, individual income tax thresholds and brackets will be increased automatically next year. As
See MorePalestine and Turkey initial a DTA
According to media reports, Palestine and Turkey initialed a double taxation agreement (DTA) during four-day meetings that concluded on November 15,
See MoreChina considering tax cut for iron ore miners
China is said to be considering a move to cut tax for iron ore mining companies in a bid to reduce input costs for the nation's steel industry. The country's Ministry of Industry and Information Technology is reportedly working with the Finance
See MoreSwitzerland’s Federal Council adopted five double tax agreements
On November 21, 2012, Switzerland's Federal Council adopted five double tax agreements, with Slovenia, Turkmenistan, the Czech Republic, Bulgaria and Peru, and forwarded them to parliament for its
See MoreSwitzerland Adopts Multiple DTAs
The Swiss Federal Department of Finance (FDF) has announced on 23 November 2012 that the Federal Council has adopted five more double taxation agreements (DTAs) regarding taxes on income and on capital and submitted them to parliament for
See MoreDTA between Taiwan and Germany has entered into force
The Taiwanese Ministry of Foreign Affairs confirmed on November 20, 2012, that the double taxation agreement (DTA) between Taiwan and Germany has entered into force following the conclusion of both nations' domestic ratification procedures on
See MoreDTA between India and the UK
The UK tax authority, HM Revenue and Customs, has confirmed that a Protocol to the double taxation agreement (DTA) between India and the UK was signed on October 30,
See MoreDTA between Canada and Hong Kong
According to the Hong Kong Inland Revenue Department, on November 11, 2012, Hong Kong and Canada signed a comprehensive
See MoreIreland: New DTAs with Thailand and Ukraine
The Irish tax authority has confirmed in a recent update that the nation has concluded negotiations towards new double taxation agreements (DTAs) with Thailand and Ukraine, and towards revised agreements with Belgium and
See More