Czech Republic-Colombia Income Tax Treaty details
The Income Tax Treaty (ITT) between Colombia and Czech Republic has accepted Colombian Congress and it was signed on March 22, 2012. The treaty was concluded in the Czech, English and Spanish languages and needs to be declared constitutional by the
See MoreSlovenia: Financial administration approved to conclude advance pricing agreements
In Slovenia, the amendments to the Financial Administration Law (the Law) entered into force on 1st August 2014. This Law Based on financial authorities is authorized to conclude advance pricing agreements (APA) for transfer pricing purposes. The
See MoreCyprus agrees to exchange of information on tax with India
Cyprus has accepted a key condition put forward by India on effective exchange of information on tax avoiders, hoping its move, which comes amid continuing talks on amending their mutual tax treaty, will persuade India to “rescind the
See MoreRomania: Government Confirms Social Security Tax Reduction
The Government of Romania has approved a reduction in the social security tax paid by employers, in defiance of the IMF and despite a warning from the country's President that the move will put the country's economic stability at risk. Romania's
See MoreSlovak Republic: Regulation regarding binding rulings has published
The Ministry of Finance published Regulation No. 229/2014 that gives the tax aspects for which binding rulings may be issued and this regulation came into effect from September 1, 2014. On the basis of the regulation, binding rulings can be issued
See MoreSlovak Republic: New guidance regarding transfer pricing documentation has been published
The Ministry of Finance has published new guidance on the contents of transfer pricing documentation (TPD) on August 20, 2014 that requires changes for most taxpayers. This alert summarizes the transfer pricing legislative developments as well as
See MoreCGT Provisions in DTA has been amended by Luxembourg & France
Capital gains tax provisions on real estate have been amended by Luxembourg & France and this is for a fourth time has revised their double tax agreement. The Protocol was signed on September 5, 2014, by Michel Sapin, France's Minister of
See MoreUK: Pension statements and the annual allowance to be sent soon
Pension providers will soon be sending annual allowance pension statements for the 2013 to 2014 tax year to all pension scheme members contributing more than £50,000 per year to a pension scheme. Finance Act 2011 legally requires pension providers
See MoreCzech Republic-Singapore ITT protocol enters into force
The amending protocol to the Czech Republic - Singapore Income Tax Treaty (ITT) has entered into force on September 12, 2014 that was signed June 26, 2013. The provisions of article 10 generally apply from September 12, 2014 and the provisions of
See MoreHMRC will introduce Penalties For Real Time PAYE Errors from October 2014
HMRC will introduce penalties for late real-time pay-as-you-earn (PAYE) returns from October, 2014. Companies employing 50 or more people will face penalties from October 6, 2014 and the companies with fewer than 50 employees will be subject to the
See MoreGreece: Tax cuts initiative will take place by Greek PM in the months ahead
Details of a "road map" for reducing taxes will be unveiled by Greece's Prime Minister, Antonis Samaras and which will be implemented initial tax cuts in the months ahead. Heating oil tax will be reduced by 30 percent and the solidarity tax on
See MoreSlovak Republic: Proposals on transfer pricing and thin capitalization
A draft amendment to income tax law in Slovakia contains provisions regarding changes to the rules for transfer pricing and thin capitalization. The amendment was accepted on August 2014, and if enacted, the changes usually would have an effective
See MoreCroatia: New tax measurement has been announced by government
The government has declared new tax measure on VAT, personal allowance, Employment earnings and others in order to enhance the economic activity, on 4 September 2014. VAT: According to the declaration, VAT will be applicable on invoice payment
See MorePoland: Hiked the VAT rate
Poland raised the VAT rate from 21% to 23% in 2011, when it goes through the financial crisis - recession, reduction of government revenues from corporate income tax. The Finance Ministry of Poland has declared, the new VAT rate (23%) will set for
See MoreEU-Ukraine Association Agreement Ready To Ratify
The technical preparation of the EU-Ukraine Association Agreement for its subsequent ratification by parliament will be completed in the near future, the Ukrainian Foreign Ministry has said. Both sides will progressively establish a free trade area
See MoreUK: ‘Deemed Consent’ Regime To NICs has been extended by HMRC
A change of policy from HM Revenue and Customs (HMRC) will enable informal representatives of elderly and disadvantaged taxpayers like family and friends to deal with tax issues like National Insurance Contributions on their behalf under the
See MoreFinland: Government Agrees To Tax Hikes For 2015 Budget
After weeks of one-on-one and full-cabinet negotiations, on August 28, 2014, the Finish Government has agreed on the 2015 budget proposal. The proposal is mainly based on decisions made in the General Government Fiscal Plan last spring and in the
See MoreDenmark: New Figures published for personal income tax 2015
The Ministry of Taxation published on its website on 2 September 2014, the figures applied for personal income tax purposes in 2015. Furthermore, it lists the applicable figures for other taxes. Such figures are adjusted annually according to
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