Double Tax Agreement between Germany and Liechtenstein

03 January, 2013

Liechtenstein and Germany signed a bilateral double taxation agreement on 2011. The treaty will become effective from 1 January 2013. As per the agreement, there will be relief from withholding taxes for cross-border holdings as both countries

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Denmark: New Anti-Avoidance rule approved by parliament

03 January, 2013

The Danish Ministry of Taxation approved the Bill on 14 December 2012 relating anti-avoidance rules about withholding tax on dividends. The key points of the Bill are summarized below: Under the Danish holding company rule dividends (resident to

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The  Czech Republic and Denmark Income Tax Treaty enters into force

03 January, 2013

The Czech Republic and Denmark signed an Income Tax Agreement on 22 December 2012.The treaty will be applicable from 1 January 2013. The new treaty replaces the former Czechoslovakia – Denmark Income and Capital Tax Treaty (1982), as amended by

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UK: Corporation Tax Dodge Closed by UK Government

27 December, 2012

On 27 September 2012 it was reported that the British government has used new Targeted Anti-Avoidance Rules aimed at trade and property businesses to close down a scheme which it says was being marketed as a way to reduce corporation tax by

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New Tax Reform Bill for Greece

23 December, 2012

On 14 December 2012, the Greek government submitted draft legislation to parliament to simplify the tax system. According to the new bill people earning more than 42,000 Euros ($55,000) per year will now be taxed at a new top rate of 42 percent

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Sweden: parliament approves the Budget for 2013

20 December, 2012

The Swedish parliament approved the Budget for 2013 on 5 December 2012 together with further tax measures, presented separately by the government. The amendments apply from 1 January 2013. Key points of the budget are summarized below: Corporate

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Income Tax Treaty between Poland and Singapore

19 December, 2012

Poland and Singapore signed an Income Tax Treaty on 4 November 2012. The treaty which is not yet in force was concluded in both the Polish and English languages, each text having equal authenticity. The treaty generally follows the OECD Model, with

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Swedish Budget 2013 proposes to cut corporate tax rate

17 December, 2012

The Budget for 2013 was presented to parliament on 20 September 2012. In the Budget Bill the government proposes the following tax amendments, which will be applicable from 1 January 2013: Corporate taxation The Budget Bill proposes a reduction of

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Revised Tax Plan by Dutch Second Chamber

17 December, 2012

The Dutch government's 2013 tax plan has been adopted by The Dutch Second Chamber, of fiscal measures including plans to introduce a so-called "lessors’ tax" in 2013; to increase the insurance premium tax; and to introduce new rules applicable to

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Income Tax Treaty between Lithuania and Mexico enters into force

17 December, 2012

Mexico and Lithuania signed an Income Tax Treaty on 23 February 2012. The treaty has come into force on 29 November 2012, and will be applicable from 1 January 2013. Under the provisions of the treaty an enterprise will have a permanent

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Hungary-Tax Law changes for 2013

17 December, 2012

On 12 October 2012 a bill introducing the 2013 "tax package" was introduced into the Hungarian Parliament. Further amendments to the package were proposed on 18 November and on 29 November 2012 the changes for 2013 were published in the Official

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Tax on non-resident pension funds in Finland held to be discriminatory

17 December, 2012

The European Court of Justice (ECJ) has ruled that a tax on dividends received by non-Finnish pension funds in Finland is discriminatory. Currently, resident pension funds can avoid paying tax on dividends from investments by transferring such

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Withholding Tax on Dividends-new Danish Anti-Avoidance Rules applies from 2013

17 December, 2012

The Danish Ministry of Taxation presented a bill containing anti-avoidance rules regarding withholding tax on dividends. The purpose of the Draft Bill is to adjust certain unplanned consequences of the current rules. If adopted this bill applies

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Netherlands Bill Softens Exit Tax Rules

17 December, 2012

It was reported on 17 December 2012 that the Dutch Second Chamber has recently approved a bill submitted by the Financial State Secretary amending existing legislation pertaining to exit tax. The bill provides companies electing to relocate abroad

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Double Taxation Agreement (DTA) between Austria and Chile

11 December, 2012

Austria and Chile signed a bilateral Double Taxation Agreement (DTA) on 6 December 2012.The treaty is intended to provide greater transparency and certainty in tax matters for Austrian companies which are active in Chile. This DTA is regarded as an

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Income Tax Treaty between Latvia and Turkmenistan enters into force

11 December, 2012

Latvia and Turkmenistan signed an Income Tax Treaty on 11 September 2012. This treaty came into force on 4 December 2012 and will be applicable from 1 January 2013. The treaty generally follows the provisions of the OECD Model, but the definition

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Italian Law Decree aims at incentives for start-up companies

10 December, 2012

The Italian Government has approved Law Decree, No. 179 of 18 October 2012, which has been published in Official Gazette No. 194. The Decree introduces incentives for innovative start-up companies, to encourage economic growth. For the first time

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Income Tax Treaty between Iceland and Slovenia

10 December, 2012

Iceland and Slovenia signed an Income Tax Treaty on 4 May 2011, and the treaty came into force on 11 September 2012. The treaty will be applicable from 1 January 2013. The treaty generally follows the provisions of the OECD Model. The maximum

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