Exchange of Information on Taxation between Indonesia and Singapore
In a meeting on 15 December 2014, Singapore Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam and Indonesia’s Finance Minister Bambang Brodjonegoro noted the excellent cooperation enjoyed by both the Indonesian and Singapore
See MoreIndia & Japan: First bilateral APA signed
The Central Board of Direct Taxes (CBDT) signed a bilateral Advance Pricing Agreement (APA) with a Japanese company on 19 December 2014. This is India’s first bilateral APA which has been signed for a period of 5 years. Moreover, CBDT was proud to
See MoreDTA between Qatar and Japan initialed
The Government of the State of Qatar and the Government of Japan have agreed in principle on the Agreement between the Government of the State of Qatar and the Government of Japan for the Avoidance of Double Taxation and the Prevention of Fiscal
See MoreHong Kong ratifies WTO’s Trade Facilitation Agreement (TFA)
Hong Kong, China has become the first WTO member to formally ratify the WTO’s new Trade Facilitation Agreement (TFA). Hong Kong officials informed the WTO's General Council on December 10 that the territory deposited its instrument of acceptance
See MoreChina signed a protocol to amend its DTA with Estonia
On Tuesday, 9 December 2014, Mr. Xie Xuezhi, Deputy Director of State Administration of Taxation of China and Mr. Veiko Tali, Secretary-General of Ministry of Finance of Estonia signed the Protocol amending the Agreement between the Government of
See MoreUK: ratification of DTA with Tajikistan
The United Kingdom has ratified its Double Tax Agreement (DTA) with Tajikistan on December 10,
See MoreSingapore Modifies Tax Information Exchange Procedure
According to a report issued in relation to the international standard for exchange of information for tax purposes (the EOI Standard), Singapore has modified its tax code to put in place the legislative framework to deal with Group Requests, from
See MoreFree Trade Agreement between Australia and Korea
On Friday, 12 December 2014, a free trade agreement (FTA) between Australia and Korea entered into force. The Korea-Australia Free Trade Agreement (KAFTA) supports one of the strongest and most complementary economic relationships in the
See MoreHong Kong and UAE Sign Comprehensive Double Taxation Agreement
Hong Kong signed a comprehensive double taxation agreement (DTA) with the United Arab Emirates (UAE) in Dubai on December 11, 2014 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. This
See MoreChina: SAT Regulates the Administration of the GAAR
Recently, the State Administration of Taxation (SAT) issued the Administrative Measures on the General Anti-Avoidance Rule (GAAR) to further regulate and clarify various matters, such as applicable scope, judging criteria, adjustment methods,
See MoreHong Kong Exchanges Notes With Japan Regarding Exchange of Information
The Government of the Hong Kong Special Administrative Region (SAR) exchanged notes on 10 December 10 2014, with the Government of Japan regarding the Exchange of Information (EoI) Article in the double taxation agreement between the Hong Kong SAR
See MoreCzech Republic & Pakistan: DTA ratified by Pakistan
The Income Tax Treaty between Czech Republic and Pakistan has ratified by Pakistan on 2nd October 2014. The signing draft of this treaty has approved by the Pakistan’s Cabinet on 29th August 2013. Further details of the treaty will be reported
See MoreFTA between Canada and Korea effective from January 2015
The Free Trade Agreement (FTA) between Canada and South Korea has been ratified by both countries. This treaty will be effective from 1st January 2015. It contains principles for determining the rules of source and other guidance. The agreement also
See MoreUS And Singapore Sign FATCA Intergovernmental Agreement
An intergovernmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) has signed between Singapore and the United States, on December 9, 2014. FATCA was enacted by the US Congress in 2010 and took effect on
See MoreKazakhstan: President has signed a Law for amending Tax Code
The President of Kazakhstan has signed a Law No. 257-V on 28th November 2014 for introducing amendments to the Tax Code. The following changes will enter into force from 1st January 2015: Due to calculate corporate income tax, withholding tax at
See MoreAustralia & Uruguay: TIEA entered into force
The Tax Information Exchange Agreement (TIEA) (2012) between Australia and Uruguay has entered into force on 1st July 2014. This treaty generally applies from 1 January
See MoreIraq: Income Tax Treaties with Hungary, Sri Lanka, and Turkey
Draft income tax treaties with Hungary, Sri Lanka and Turkey have been approved by the Iraqi cabinet. The treaties will enter into force after they have been signed and ratified by the contracting
See MoreChina: VAT on financial services will be applicable from 2016
China's Ministry of Finance (MoF) has announced that it will launch its VAT reforms for the Financial Service Industry in the early next Year. The plan will be to levy VAT on insurance and banking services. This will swap the current flat rate 5
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