Malta: Budget 2014
Malta’s Minister of Finance presented the government’s budget for 2014 on November 04, 2013. The 2014 budget holds various measures including expense findings for business visionaries who offer apprenticeship positions and work arrangements.
See MoreCanada-Serbia DTA enters into Force
The revenue agency declared that the Double Taxation Agreement (DTA) between Canada and Serbia has entered into force on October 31, 2013 and it was actually signed on April 27, 2012. On the basis of this agreement, a 5% tax withheld will be levied
See MoreNew DTA between Argentina and Switzerland
The governments of Argentina and Switzerland initialed a new double taxation agreement on 5 November 2013. The agreement will promote foreign investment and ensure legal certainty. If the final text of the agreement is approved by the two countries
See MoreA ‘FATCA’-type Agreement has been signed by Cayman and the UK
A bilateral governmental agreement has been signed by The Cayman Islands with the United Kingdom on November 05, 2013 which set the foundation for the automatic exchange of financial information about UK taxpayers who hold accounts in the Cayman
See MoreLuxembourg – Income tax treaty with Seychelles
The income and capital tax treaty between Seychelles and Luxembourg entered into force on August 19, 2013, and which will effective from beginning of January 2014. The Seychelles concluded one of the first treaty with Luxembourg. This treaty
See MoreTIEA between Argentina and Macedonia will enter into force
The government of Argentina and Macedonia signed a tax information exchange agreement on 26 April 2013. After completing necessary ratification procedures the agreement will enter into force on 17 December
See MoreIreland -Switzerland: Protocol tax treaty signed
The Protocol to the double tax agreement (DTA) initialed between Switzerland and Ireland will be effective in Ireland from January 1, 2014, which entered into force on November 14,
See MoreItaly and Switzerland closer to resolving tax disputes
A further round of bilateral negotiations was held between Italy and Switzerland in Rome which aimed at resolving important tax issues between the two countries. Italy and Switzerland agreed to find a solution to a number of major points of tax
See MoreTreaty between Malawi and Norway enters into force
The Malawi - Norway Income Tax Treaty (2009) entered into force on 10 December 2012. The treaty generally applies from 1 January 2013 for Norway and from 1 July 2013 for Malawi. From this date, the new treaty generally replaces the Malawi -
See MoreSwitzerland: Budget Surplus despite Revenue Dip
The Swiss Federal Department of Finance released that the Confederation is forecasting the excess budget of this year CHF0.3bn (USD0.33bn) on 1 November 2013. Switzerland’s budget presented for a shortage of CHF0.4bn in 2013. Revenues are expected
See MoreFor Far-East region Russia has sanctioned Federal Law
Russia’s President has signed Federal Law No. 267-FZ on September 30, 2013 to provide incentives for completing regional investment program within the Far East regions. In order to raise financing in the economy of the far-east region, the law
See MoreIMF recommends that Ukraine postpone its plan to implement lower tax rates in 2014
According to a Ukrainian government press release issued on 28 October 2013, delegates from the International Monetary Fund (IMF) have recommended that Ukraine postpone its plan to implement lower value-added tax rates and income tax rates in 2014.
See MoreCanada-Switzerland: Exchange of letters to treaty enters into force
The exchange of letters, signed by Switzerland on June 28, 2012 and by Canada on July 23, 2012, to the Canada - Switzerland Income and Capital Tax Treaty (1997), as amended by the 2010 protocol, entered into force on October 31, 2013 and generally
See MoreSwitzerland: Terminates Tax Rebate Committee
It has been announced that, the Swiss Federal Council has issued plans to eliminate the Federal Committee (CFR) responsible for federal direct tax rebates. The Federal Council is establishing new provisions for federal direct tax rebates. The CFR is
See MoreCzech Republic-Switzerland tax treaty protocol enter into force
The protocol to the agreement regarding the avoidance of double taxation between Czech Republic and Switzerland has entered into force on October 11, 2013 and the real double taxation agreement was signed on December 4, 1995. The protocol covers
See MoreExchange of information agreement between Costa Rica and Norway approved by Costa Rican Congress
On 21 October 2013 the Costa Rican Congress approved on first debate the Costa Rica - Norway Exchange of Information Agreement (2011). When it enters into force the agreement will enable increased cooperation between the tax authorities of Costa
See MoreUkraine withdraws VAT cut plans
Ukraine had previously planned to decrease its VAT rate along with lowering its corporation tax rate. However since Ukraine is struggling with a weak economy, the government is now considering shelving plans to cut corporate tax and VAT next year to
See MoreChina-Switzerland: Initialed tax treaty agreements
A new agreement had been signed between China and Switzerland for the avoidance of double taxation on 25 September 2013. The new treaty will replace the current agreement that was signed in 1990. The dividend withholding tax rate is reduced to 5%
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