Bangladesh: New Tax Provisions in Finance Bill 2015 Passed by Parliament
The Bangladesh Parliament passed the Finance Bill 2015 on June 29, 2015 with some changes in the tax provisions. The Finance Minister has increased the minimum amount of income tax for individuals residing in Dhaka and Chittagong. This year the
See MoreBangladesh: Changes in Transfer Pricing Provisions in Finance Bill 2015 Passed by Parliament
The Bangladesh Parliament passed the Finance Bill 2015 on June 29, 2015 with some changes in the transfer pricing provisions. The legislation relating to the report from an accountant required to be furnished by a person who has entered into
See MoreDTA negotiations between Croatia and Kazakhstan ongoing
Under a recent declaration made by the tax authorities of Croatia, tax treaty negotiations between Croatia and Kazakhstan are currently
See MoreNew Zealand: Minister of Finance presents the Budget for 2015/2016
The Minister of Finance presented the Budget for 2015/2016 to Parliament on 21 May 2015. The Budget 2015/2016 deals only with domestic tax issues. The Budget contains the following proposals: Strengthening the tax rules applicable to property
See MoreFinland: Exchange of information agreement with Brunei enters into force
The exchange of information agreement between Brunei and Finland entered into force on 1 May 2015. The agreement was signed on 27 June 2012 and generally applies from 1 May 2015 for criminal tax matters and from 1 January 2016 for other tax
See MoreChina and Russia: DTA signed
The Double Tax Agreement (DTA) between China and Russia has been signed on 8th May
See MoreDTA between Malaysia and Slovak Republic signed
A Double Tax Agreement (DTA) between Malaysia and Slovak Republic has been signed on 25th May
See MoreThailand: Draft Act contains new transfer pricing provisions
The Cabinet of Thailand approved a draft Act on Revenue Code Amendment on 7 May 2015. If enacted the Act would introduce specific transfer pricing provisions into the Revenue Code and also would amend the tax law of Thailand to apply transfer
See MoreAustralia: Budget for 2015-2016 Includes BEPS Measures and Exposure Drafts for a New Targeted Anti-Avoidance Rule
The Government of Australia announced the 2015-2016 fiscal budget on May 12, 2015. Australia has included in the budget a country-by-country reporting requirement following the recommendation in the OECD/G20 action plan on base erosion and profit
See MoreHong Kong: Government Continues Anti-Tax Evasion Measures
The Hong Kong Monetary Authority (HKMA) and the relevant enforcement authorities will continue to monitor closely measures to combat money laundering and tax evasion, the Secretary for Financial Services and the Treasury, K C Chan has
See MoreHong Kong: Individual taxpayers urged to file return by 4 June 2015
Individual income taxpayers in Hong Kong have been urged to file their 2014/15 tax return by 4 June 2015. An extension is allowed for the sole owners of unincorporated businesses and the filing deadline for them is 4 August 2015. The IRD
See MoreIndia: Elements for Including or Excluding Comparable Companies
In the case of Chrys Capital Investment Advisors (India) Pvt. Ltd. v. DCIT ITA No. 417 of 2014, the Delhi High Court confirmed a verdict of the Delhi Bench of Income-tax Appellate Tribunal that if a company has high or extremely high profits and
See MoreTax agreement between Canada and Taiwan initialed
The Tax Agreement between Canada and Taiwan has been initialed on 1st May
See MoreDTA between Czech Republic and Iran signed
The Income Tax Treaty between Czech Republic and Iran has been signed on 30th April 2015. Future information of the treaty will be reported
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
See MoreHong Kong: Government launches consultation on automatic exchange of financial account information in tax matters (AEOI)
The Government launched a consultation exercise on 24 April 2015, to gauge views on proposals to apply, with adaptations for Hong Kong, the prevailing international standards on the automatic exchange of financial account information in tax matters
See MoreChina: Publishes new annual corporate income tax return package
State Administration of Tax issued Annual Corporate Income Tax Return Package of People's Republic of China (Type A, 2014). The new return package will come into force on Jan 1st, 2015 and first to be adopted by resident CIT taxpayers in the 2014
See MoreDTA between Ireland and Pakistan signed
The Income Tax Treaty between Ireland and Pakistan was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Dublin on 16 April 2015. Once in force and effective, the new treaty will
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