Romania and Norway sign income tax treaty
A convention between Romania and the Kingdom of Norway was signed on 27 April, 2015, for the elimination of double taxation and the prevention of income tax evasion. The new treaty will replace the Norway - Romania Income and Capital Tax Treaty
See MoreDTA between Nigeria and Spain enters into force
The Income and Capital Tax Treaty between Nigeria and Spain will enter into force on 5th June
See MoreRomania and Albania sign social security agreement
Romania signed a social security agreement with Albania on 27 February 2015. No details are now
See MoreSwitzerland: Completes corporate tax reform III
The Swiss Federal Council issued its parameters for the dispatch on the Corporate Tax Reform III on 2 April 2015 and The Federal Department of Finance will arrange a dispatch on the new rules by June 2015. After it has been accepted by the Council,
See MoreRussia: Law concerning notification process of CFCs adopted
The parliament has approved Law No. 667946-6 on 27th March 2015 for extending the deadline of tax resident’s notification about the involvements held in controlled foreign companies (CFCs). The deadline for notification has been extended from 1st
See MoreSocial Security Agreement between Israel and Moldova negotiated
The negotiations of Social Security Agreement between Israel and Moldova were held on 24th March 2015 and it is wished to be signed
See MoreRussia: State Duma considers new draft law regarding thin capitalization rules
The Russian State Duma Council accepted the decision on 17th February 2015 to incorporate a new draft of Law No. 724609-6 on the introduction of changes to Article 269, Part 2 of the Tax Code regarding the meaning of controlled debt. The draft law
See MoreRussia: Application for participation exemption by a tax agent
The Finance Ministry (MoF) has issued Letter No. 03-03-06/1/885 on 19th January 2015 for describing the application of the participation exemption by a tax agent giving dividends to a Russian company. In accordance with article 284 (3) of the Tax
See MoreBelarus and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement
Belarus and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement on 20 March 2015 More specifically, Belarus and the United States signed a Model 1 Agreement. Under the agreement, Foreign Financial Institutions (FFIs) in
See MoreSwitzerland and EU Initial Agreement on Automatic Exchange of Information
It is reported that Switzerland and the EU initialed a draft agreement on the exchange of tax information on 19 March 2015. Under this agreement the account data of taxpayers would be collected from 1 January 2017. This data would include the name,
See MoreSwitzerland: Goes forward to Phase 2 of the global forum peer review
On 16 March 2015 the Global Forum on Transparency and Exchange of Information for Tax Purposes published a supplementary report to its Phase I Peer Review of Switzerland. The supplementary peer review report had been requested by Switzerland on the
See MoreDTA between Belarus and Malaysia initialed
Malaysia and Belarus initialed a tax treaty following successful negotiations held from 10 to 13 March 2015 in Malaysia. Once signed, in force and effective, the new treaty will replace the former USSR - Malaysia Income Tax Treaty
See MoreRussia: State Duma passes new tax law without extension of thin capitalization rules
The President has signed a new law on 8th March 2015 for changing article 269 of the Russian Tax Code. Precisely, the provisions of extending thin capitalization rules to foreign affiliates and bank loans are excluded from the new law. Under Russian
See MoreIceland: IMF makes recommendations on fiscal policy
The International Monetary Fund (IMF) has issued a report following a visit by staff to Iceland for consultations under Article IV of the IMF’s articles of agreement. A selected issues paper has also been published highlighting important themes
See MoreGeorgia: IMF report recommends tax increases
The IMF has released a concluding statement at the conclusion of a staff visit to Georgia. The Georgian economy has been hit recently by some economic shocks resulting from the international situation affecting its trading partners and as a result
See MoreRussia: Amendments to transfer pricing rules have entered into force
On the basis of Federal Law No. 379-FZ, the amendments has made in transfer pricing (TP) rules and it was issued on 29th November 2014. This amendments to TP rules have entered into force on 1st January 2015. The important changes are given
See MoreUkraine: State Tax Service Clarifies Amendments of the Tax Code
The State Tax Service issued a letter on 21 January 2015 clarifying the latest amendments to the Tax Code in relation to taxation of pensions, interest on bank accounts, dividends, prizes and winnings. Details of the clarification; From 1
See MoreSpain: Treaty Details With Andorra
A double tax treaty was signed between Spain and Andorra on 8 January 2015. The treaty generally follows the provisions of the OECD Model Tax Convention. Under the treaty the withholding tax rate on dividends is 15% in general and 5% if the
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