Serbia: Ministry of Finance publishes rulebook on arm’s length interest rates for 2017
The Serbian Ministry of Finance adopted the amendments to the Rulebook on arm's length interest rates (the Rulebook) on 10 March 2017. The rulebook contains the prescribed interest rates for taxpayers who had or will have related-party financing
See MoreHong Kong signs agreements on automatic exchange of financial account information in tax matters with 6 jurisdictions
Hong Kong has signed agreements with six jurisdictions for conducting automatic exchange of financial account information on tax matters. They are Belgium, Canada, Guernsey, Italy, Mexico and the Netherlands. A Government spokesman said on 17 March
See MoreSweden publishes regulation on automatic exchange of CbC reporting
The regulation on the automatic exchange of country-by-country (CbC) reporting (the Regulation) was published in the Official Gazette on 14 March 2017. The law proposal had been adopted on 1st March 2017. The Regulation, which will enter into force
See MoreG20 leader reserved on financial transaction tax prospects
In a statement made at the G20 summit in Baden-Baden on March 18, 2107, OECD Secretary-General Angel Gurria stated that the proposal would only succeed if “adopted by a large number of countries, including those that house the major financial
See MoreUK: Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2017
The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2017 (S.I. 2017/364) were made on 13 March 2017 and came into force on 14 March 2017. The Regulations amend the Corporation Tax Act 2010 c. 4 provisions regarding the 45% tax on
See MoreUK: Capital Gains Tax (Annual Exempt Amount) Order 2017
On 13 March 2017, the Capital Gains Tax (Annual Exempt Amount) Order 2017 (S.I. 2017/377) was made and for tax year 2017-18, the annual capital gains tax exemption is GBP 11,300 for
See MoreIrish Revenue publishes Guidance for 2016 Pay and File self-assessment returns
On 15 March 2017, Irish Revenue published the Guide to Completing 2016 Pay & File Self-Assessment Returns which aims to assist individuals taxed under the self-assessment system in filing their 2016
See MoreGreece: Judgment on SOL provision for taxpayer’s refund claim publishes
The Council of State/Supreme Administrative Court published its decision (No. 425/2017) related to the statute of limitations (SOL) provision for the taxpayer’s refund claim. In accordance with the Court, the taxpayer’s claim for refund of the
See MoreCzech Republic: Tax audits focused on transfer pricing increases
The number of tax audits focused on transfer pricing in the Czech Republic and the resulting tax adjustments have increased rapidly because of Czech Tax Administration’s systematic risk assessments. These risk assessments are successively used to
See MoreGreece: Draft bill amending Income Tax Code and other provisions submits
A draft bill was submitted to the parliament on 8th March 2017. When adopted, the draft bill presents an amendment to the provision of article 52 of the Income Tax Code about the tax treatment of a transfer of assets of the transferring company in
See MoreSingapore, Belgium Competent authority agreement on automatic exchange of information signed
The Competent Authority Agreement on Automatic Exchange of Information (2017) between Singapore and Belgium was signed on 10 March 2017. The agreement provides details of what types information will be exchanged and when, in accordance with OECD
See MoreBelgium: Netherlands UCITS under EU Parent-Subsidiary Directive, Dividend withholding tax exemption
The EU Court of Justice issued a judgment in a case regarding application of the EU Parent-Subsidiary Directive, and specifically a withholding tax imposed by Belgium on dividends paid by a subsidiary company of Belgium to its Dutch parent companies
See MoreAustria: Approves draft bill on reduced air travel tax rates
The government approved a draft bill amending the air travel tax law on 7 March 2017. The draft bill provides for reduced air travel tax rates. Accordingly, the rates will be reduced from EUR 7 to EUR 3.50 for short distance flights, from EUR 15 to
See MoreBelgium and India signed a protocol to DTA
On 9 March 2017, Belgium and India signed an amending protocol to Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in New
See MoreFinland: Ministry of Finance declares their commitment to exchange CbC reports
Finland is committed to the exchange of the country-by-country (CbC) report. On March 8, 2017, an official Gazette was published by the Ministry of Finance. The Gazette states that the government is willing to comply with the Multilateral Competent
See MoreSweden approves the new legislation on transfer pricing documentation and CbC reporting
Sweden's parliament on 1 March 2017, adopted the government’s proposal on transfer pricing documentation and country-by-country reporting. The adoption amounts to the ratification of OECD’s guidelines for transfer pricing documentation and
See MorePoland passes bill on exchange of information in tax matters
The lower chamber of the parliament (Sejm) has passed the Bill on 10 February 2017 regarding the Exchange of Information in tax matters with other countries. The bill implementing among other measures, Council Directive 2014/107 with regard to the
See MoreUK: Finance Act 2016, Schedule 21 (Appointed Days) Regulations 2017
SI 2017/277 sets 1 April 2017 and tax years commencing on or after 6 April 2016 for the coming into force of FA 2016, Sch. 22. The Finance Act 2016, Schedule 22 (Appointed Days) Regulations 2017 appoints the days on which FA 2016, Sch. 22 comes
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