The United Kingdom and South Africa set to work together to tackle offshore tax avoidance
The Ministry of Finance of South Africa issued a media statement on 12 October 2013, stating that United Kingdom and South Africa have agreed to work together to tackle offshore tax avoidance including through pressing for better international
See MoreSlovak Republic: Changes to Tax Procedure Code
On the basis of the recent amendments to the Tax Procedure Code, new rules related to the communication and submission of documents to the tax authorities will be applicable in the Slovak Republic and this will be effective from January 1, 2014. By
See MoreTax Certificates for residence issued by Czech tax authorities should have an apostille
The Russian Ministry of Finance has published Letter No. ОА-4-13/7891 on October 14, 2013, issued on April 29, 2013, clarifying the requirements for certificates of tax residence issued by the Czech tax authorities for the purposes of application
See MoreRomania: Negotiation of Tax Agreement with Bermuda
Recently the Romanian government has announced its intention to commence negotiations for a tax information exchange agreement with Bermuda. This agreement when signed will allow Romania to gain more information about the activities of Romanian
See MoreProtocol to treaty between Iceland and Poland enters into force
The amending treaty protocol signed on 16 May 2012, to the Iceland and Poland Income and Capital Tax Treaty (1998) entered into force on 23 August 2013, . The protocol generally applies from 1 January
See MoreKazakhstan – Czech Republic ICTT protocol authorized
It has been reported that the government of the Czech Republic has authorized the signing of the initialed amending protocol to the Czech Republic – Kazakhstan Income and Capital Tax Treaty (1998) on October 16,
See MoreBarbados and Malta treaty Protocol signed
It has been reported that Barbados and Malta signed an amending protocol to the Barbados – Malta Income Tax Treaty (2001), in New York on 25 September 2013. No further details of the amending protocol are currently
See MoreProtocol to tax agreement between Austria and Hong Kong enters into force
According to a press release of 18 October 2013, the amending protocol on Income and Capital Tax agreement between Austria and Hong Kong, signed on 25 June 2012, entered into force on July
See MoreProtocol and exchange of letters entered into force to treaty between Korea (Rep.) and Luxembourg
The amending protocol and exchange of letters, which was signed on 29 May 2012, the Income and Capital Tax Treaty between Korea (Rep.) and Luxembourg, entered into force on 4 September 2013. The protocol generally applies from 4 September
See MorePortugal: Approves Corporate Tax Reform
The Portuguese Council of Ministers sent to parliament proposed reforms of the corporate tax system on 13 October 2013, which will aim to improve Portugal’s tax competitiveness and encourage investment. The proposed reforms would reduce the
See MorePortugal: Amendments to exit tax to conform to EU principles proposed
Legislative authorization to amend the exit taxation rules to conform to EU principles is provided by 2013 Budget Law of Portugal. A significant change to the exit taxation regime was proposed the tax reform submitted to Parliament on 15 October
See MoreAmended Budget for Netherlands 2014 presented
Amended Budget for Netherlands 2014 presented On 11 October 2013, the Netherlands government presented an overview of the amended Budget for 2014. The amended Budget includes amendments to some of the tax measures previously announced on 17
See MoreLuxembourg: Legislative changes to implement mandatory automatic exchange of information
The Luxembourg Council of Ministers approved the legislative changes required to implement the mandatory automatic exchange of information system on 4 October 2013 required by article 8 of the Mutual Assistance Directive on administrative
See MoreItaly: Decree on Financial Transaction Tax has been issued with Amendment
A Decree has been approved by The Italian Ministry of Economy and Finance on 16 September 2013 which makes the amendment of Decree on the Italian Financial Transaction Tax (IFTT) issued in order to implement the IFTT Law adopted last year on 24
See MoreItaly –Government Increases the VAT Rate to 22%
With effect from 1 October 2013, the standard VAT rate on goods and services has increased from 21% to 22%. The reduced rates of 10% and 4% are kept unchanged. The correct rate to use for the supply of goods is the rate prevailing on the first of
See MoreItaly: 2014 draft Budget Law has been issued
The Italian Government approved on 15 October 2013, as part of its 2014 budget package, a Law Decree (the Decree) regarding the so called “Law of Stability” for 2014. The Decree would be published soon in the Official Gazette and will enter
See MoreThe United Kingdom and Isle of Man sign automatic exchange of information agreement
The United Kingdom and Isle of Man signed an automatic exchange of information agreement on 10 October 2013. In the agreement, that follows the accord signed between the United Kingdom and the United States to execute reporting of information
See MoreIreland: Budget for 2014
The Minister for Finance presented the Budget to the Parliament on 15 October 2013. The most important features of the Budget are as follows: Under the 2014 Budget, the corporation tax rate remains unchanged; Reduced VAT rate of 9% on various
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