Ukraine increases penalties for tax evasion

06 October, 2019

On 23 September 2019, the Ukrainian President Volodymyr Zelenskyi has signed Law No. 101-IX on amendments to the Criminal Code of Ukraine and the Criminal Procedure Code of Ukraine, as adopted by the Parliament on 18 September 2019. The Law

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Ukraine submits draft law on amendments to the Tax Code to Parliament

26 September, 2019

On 30 August 2019, the Ukraine has submitted draft law no. 1210 to the Parliament amending the Tax Code on improving tax administration, removing technical and logical mismatches in the tax legislation. The three main areas of the draft law

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Ukraine: MOF amends taxpayer’s audit compliance with the arm’s length principle

26 September, 2019

On 6 September 2019, the Ukrainian Ministry of Finance (MOF) has published Order No. 307 of 16 July 2019 in the official gazette amending Order No. 399 of 30 March 2017. The amendment clarifies the procedures to audit compliance with the arm’s

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Russia: FTS clarifies the application of CUP method

21 September, 2019

On 2 September 2019, the Federal Tax Service (FTS) of Russia published a Letter No. CA-4-7/17555, about the review of litigation regarding tax control in the field of transfer pricing. For tax purposes, the FTS noted that the courts recognize the

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Russia reduces the Interest rate from September 2019

14 September, 2019

On 6 September 2019, the Russian Central Bank announced the decision to reduce the key rate from 7.25% to 7.00% with effect from 9 September 2019. For tax purposes, the key rate is important in relation to the safe harbor rates for interest

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DTA between Kosovo and Malta enters into force

29 August, 2019

On 20 September 2019, the Double Taxation Agreement (DTA) between Kosovo and Malta will enter into force and applies from 1 January

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Ukraine issues guidance on transactions between non-resident and its representative offices

26 August, 2019

On 16 August 2019, the Ministry of Finance issued Order No. 345 providing guidelines on transfer pricing arrangements for transactions between non-residents and their representative offices and permanent establishments in Ukraine. The Order

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Russia updates the CFC notification form

20 August, 2019

On 1 August 2019, the Federal Tax Service (FTS) has approved the amended CFC and the filing procedure in electronic form with an order of 5 July 2019 No. MMV-7-13 / 338. This regulation extends the list of information on foreign organizations

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Ukraine: DTA signs with Singapore

19 August, 2019

On 16 August 2019, the amending protocol to the Double Taxation Agreement (DTA) between Singapore and Ukraine was signed to update the Exchange of Information Article according to the OECD standard for information exchange,

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New Zealand: DTA signs with Switzerland

12 August, 2019

On 8 August 2019, officials from New Zealand and Switzerland signed an amending protocol to update the Double Taxation Agreement (DTA) between them in accordance with BEPS

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Russia reduces the interest rate from July 2019

09 August, 2019

On 26 July 2019, the Russian Central Bank announced the decision to reduce the key rate from 7.50% to 7.25% with effect from 29 July 2019. For tax purposes, the key rate is important in relation to the safe harbor rates for interest income

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Ukraine signs amending protocol to DTA with UAE

05 August, 2019

On 24 July 2019, the Cabinet of Ukraine approved to sign an amending protocol to the Double Taxation Agreement (DTA) with United Arab Emirates (UAE). The provisions of the draft protocol fully comply with the requirements with the Organization for

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Ukraine: DTA signs with Oman

05 August, 2019

On 24 July 2019, the Cabinet of Ukraine authorized to sign a Double Taxation Agreement (DTA) with Oman. The agreement contains Dividends rate 5% for at least 20% capital holding; otherwise 10%, Interest rate 10%, and Royalties rate

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Luxembourg: DTA with Kosovo enters into force

05 August, 2019

On 23 July 2019, the Double Taxation Agreement (DTA) between Kosovo and Luxembourg was entered into force and applies from 1 January 2020. The agreement was signed on 8 December 2017. The agreement contains Dividends rate 0% for at least 10%

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OECD: Bosnia and Herzegovina joins the inclusive framework on BEPS

01 August, 2019

On 10 July 2019 the OECD announced that Bosnia and Herzegovina has joined the Inclusive Framework on base erosion and profit shifting (BEPS). This means that a total of 131 countries and jurisdictions are taking part in the Inclusive Framework.

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Russia reduces the interest rate from June 2019

30 July, 2019

Recently, the Board of Directors of the Bank of Russia decided to lower its key (interest) rate from 7.75% to 7.50% with effect from 17 June 2019. The key rate has an effect on the interest penalties, which increase together with the increased

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Ukraine: SFS clarifies treatment of controlled transactions with Bulgaria

10 July, 2019

On 20 June 2019, the Ukraine State Fiscal Service published a guidance letter No. 2826/6/99-99-15-02-02-15/IPC defining the treatment of transactions with residents of tax Bulgaria, which was removed from the Cabinet tax haven list in April

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Malta: Commissioner for revenue issues updated MAP guidelines

04 July, 2019

Earlier the month of June 2019, the Maltese Commissioner for Revenue issued guidance under the provisions of article 96(2) of the Income Tax Act, Chapter 123 of the Laws of Malta (the ‘ITA’) on the use of Mutual Agreement Procedure

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