Algeria: Issued Tax Free Government Bonds
The Algerian Tax Administration issued a Note pertaining to the issuance of government bonds starting from 17 April 2016. Interest income from those bonds will benefit from a tax exemption. Subscriptions will be available for both individuals and
See MoreTanzanian Requires Taxpayers with Related-Party Transactions Contemporaneous Transfer Pricing Documentation
The requirement for transfer pricing documentation has been in place since February 7, 2014 but the Tanzania Revenue Authority (TRA) had not previously enforced this requirement. TRA have started requesting transfer pricing documentation from
See MoreFATCA Agreement Signed between United States and Georgia
Georgia and the United States have signed a Foreign Account Tax Compliance Act (FATCA) agreement on 10 July 2015. This is a Model 1 Agreement. Under this reciprocal agreement, financial institutions in Georgia will report the information required
See MoreLuxembourg: Adopts 2014 Budget
Luxembourg’s 2014 Budget has been adopted by the Chamber of Deputies. The debate in parliament was concerned with the Luxembourg Government’s intention to raise taxes with effect from 2015. The government also intends to increase three of the
See MoreLuxembourg: Challenges european commission on Tax Information Injunctions
Luxembourg is to challenge the European Commission in the Court over tax rules that are alleged by the Commission to benefit only specific types of entity. These provisions may be contrary to the state aid provisions in the European Union. The
See MoreTanzania: Reconsiders gas windfall tax proposal
Tanzania may decide against a windfall tax on production, which had been considered as part of the National Natural Gas Policy (NNGP). It is now considered that a windfall tax might not be appropriate in the initial stages of natural gas extraction,
See MoreCzech Republic – Tax change for investment funds and individuals
It is reported that the Czech Minister of Finance has abandoned plans to unify by 2015 the tax collection in respect of individual income tax and public insurance contributions. Some tax measures are however to be introduced to rationalize the tax
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