Denmark: Government publishes package on measures to prevent tax evasion
The Danish government published a package of measures to prevent tax evasion and the use of tax havens on 6 November 2014. The Package highlighting on the following measures: Taking an active role at the international level by, inter alia,
See MoreUK: HMRC warns on late tax return penalty
The UK tax authority HMRC has warned that the taxpayers in UK who have not filed their 2013-2014 tax return yet must submit their return online. Otherwise they need to pay a penalty of GBP100 (USD160). The deadline for paper-filing for the tax year
See MoreUK: HMRC issues a list of 10 things to know about tax avoidance
On 5 November 2014 HM Revenue and Customs (HMRC) issued a list of 10 points that it suggests taxpayers ought to know about tax avoidance schemes. The list sets out the risks that people face when they sign up to a tax avoidance scheme. These include
See MoreItaly: approves a decree to pre-compile individual income tax returns covering 2015 tax forms
The Italian Cabinet has approved a decree to pre-compile individual income tax return on October 30, 2014. This scheme will cover 2015 tax forms. A pre-compiled form will be available to the tax payers by April 15 each year over the internet. The
See MoreBasis of imposing tax of Resident Companies is wider than non-resident companies in Ireland
Resident company is taxed on its worldwide income and capital gains. It excludes most distributions received from other Irish-resident companies. A non-resident company operating through its Irish Branch is taxed on the profits obtained from that
See MoreItaly: ratification of Tax Information Exchange Agreements (TIEAs) with the Cook Islands and Jersey on October 30, 2014
Italy has ratified its Tax Information Exchange Agreements (TIEAs) with the Cook Islands and Jersey and it was published in the official gazette on October 30,
See MoreItaly: Ratifies its protocol with the Republic of Korea on October 29, 2014
Italy has ratified its tax treaty protocol with the Republic of Korea and it was published in the official gazette on October 29,
See MoreEuropean Commission Proposals for the Future of VAT in the EU
The European Commission issued a paper on 30 October 2014 outlining ideas on creating a more effective VAT system that is more in line with the objectives of the single market in the EU. The intention is to create the definitive VAT regime that will
See MoreFinland: Companies must submit reports on construction by November 5
Businesses and self-employed operators who are buyers or customers, including housing companies and real must submit their reports for September to the Tax Administration by October 6. Companies must give details on their contracts if the value goes
See MoreUK: No paper tax returns from November 2014 otherwise a penalty of £100
The deadline for filing paper tax return has passed on 31 October, 2014. HM Revenue and Customs (HMRC) will not receive any paper tax returns from November 2014. Even if you have no tax to pay, or you eventually pay your tax on time, a late paper
See MoreSpain Launches New Deferral Import Regime for 2015
Spain is set to launch an important import VAT postponement regime which will offer importers major cash-flow incentives. The new scheme should come into force from 2015. According to this regime, which is totally new in Spain, certain VAT taxpayers
See MoreMalta- Mauritius Signs Double Taxation Agreement (DTA) on October 15, 2014
Malta has signed Double Taxation Agreement (DTA) with Mauritius on October 15, 2014 with a view to avoid double taxation and prevention of fiscal evasion. This treaty awaits
See MoreSpain: Congress Approves Disputed ‘Google Tax’
Spain's parliament has approved new intellectual property laws that allow news publishers to charge aggregators each time they display news content in search results. This is a reform to the Intellectual Property Law and will come in effect on 1
See MoreLuxembourg-UAE signs a protocol to amend the Double Tax Agreement
The Luxembourg and the UAE have signed a protocol to amend the existing double tax agreement among them. The withholding tax rate on dividends, interest, and royalties has not been changed in the amendment. The protocol revises provisions in the
See MoreNetherlands: signs agreement on exchange of tax information with 50 countries
Finance minister of Netherlands Jeroen Dijsselbloem signed a declaration today with 50 other countries, committing the signatories to exchange tax-information automatically. The Netherlands will receive information from these countries on possible
See MoreLuxembourg: Double Taxation Treaty (DTA) with Guernsey enters into force
The Double Taxation Treaty (DTA) between Luxembourg and Guernsey has entered into force on August 8,
See MoreBahrain – Hungary: Treaty has been approved
The Bahrain - Hungary Income Tax Treaty of 2014 has been approved by the Hungarian parliament on 25 October 2014.Further details of the treaty will be reported
See MoreHungary-Jersey: Exchange of information agreement has been approved
The Hungary - Jersey Exchange of Information Agreement of 2014 has been approved by the Hungarian parliament on 25 October 2014. Further details of the agreement will be reported
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