Russia publishes final law on automatic exchange of tax information and documentation requirements
Recently, the Federal Law No. 340-FZ of 27 November 2017, amending the Tax Code in relation to the implementation of the international automatic exchange of financial accounting information and transfer pricing (TP) documentation of multinational
See MoreNorway publishes updated guidelines on CbC reporting
The Tax and Customs Administration issued updated guidelines for the submission of the country-by-country reporting form RF-1352 (CbC) on 17th November 2017. According to the guidelines, CbC reports must be submitted by 31st December
See MoreRussia approved draft law on automatic international exchange of tax information and documentation requirements
The Russian State Duma adopted in the final reading the draft law implementing international automatic exchange of financial accounting information and transfer pricing (TP) documentation of multinational Groups of Companies on 16 November 2017.
See MoreNorway: Government publishes tax proposal in Budget 2018
On 12 October 2017, the Norwegian Government published its proposal for the 2018 Fiscal Budget. The following tax measures are proposed in the Budget. The government has proposed to reduce the general corporate tax rate from 24% to 23% with
See MoreBelgium, Macedonia DTA enters into force
On 17 July 2017, the Double Taxation Agreement (DTA) between Belgium and Macedonia was entered into force and it will apply from 1 January 2018. From this date, the new treaty will replace the existing DTA of
See MoreDTA between Jersey and UAE came into force
On 15 February 2017, the Double Taxation Agreement (DTA) between Jersey and United Arab Emirates was entered into force and it will apply from 1 January 2018. The agreement contains Dividends rate 0%, Interest rate 0%, Royalties rate
See MoreSwitzerland: Automatic Exchange of country-by-country reports enters into force
On 18th October 2017 during its meeting, the Federal Council decided to bring a law on the International Automatic Exchange of Country-by-Country Reports of Multinationals into force on 1st December 2017. Under the new law, CbC reporting obligations
See MoreSwitzerland reduces e-book VAT
As of January 1, 2018, Switzerland is to reduce the value-added tax on e-books from 8% to 2.5%. This means that the VAT rate for electronic books will be the same as in printed books. The standard VAT rate will also reduced from 8% to 7.7% on the
See MoreNorway: Proposal to increase VAT rate
Norway has proposed to increase the reduced rate of VAT, as from 1 January 2018 by 10% to 12%. Reduced value-added tax is applicable to the public transport, hotel accommodation, and access to cinemas, museums and amusement parks, but the standard
See MoreUkraine: President approves the amending protocol to DTA with Netherlands
On October 6, 2017, the President of Ukraine, Petro Poroshenko, authorized the protocol on amendments to the Taxation and Taxation Agreement with the Netherlands signed in 1995. The protocol will be the first to amend the treaty, and must be
See MoreUkraine and Turkey sign protocol to convention on avoidance of double taxation
On 9 October 2017, a protocol was signed between the Government of Ukraine and the Government of the Republic of Turkey on amendments to the Convention for the avoidance of double taxation and the prevention of tax evasion with regard to taxes on
See MoreUkraine and UK sign protocol to amend the agreement on double taxation
On 9 October 2017, Minister of Finance Ukraine Oleksandr Danyliuk and State Secretary of Great Britain for Europe and America Alan Duncan signed the Protocol on amendments to the Agreement on the Avoidance of Double Taxation between Ukraine and the
See MoreDouble tax treaty between Malta and Ukraine enters in to force
On 28 August 2017, the Double Taxation Agreement (DTA) between Malta and Ukraine was entered into force and it will apply from 1 January 2018. The agreement contains Dividends rate 5% for at least 20% holding; otherwise 15%, Interest rate 10% and
See MoreJersey: Draft Budget 2018 Published
The Government published the Draft Budget 2018 on October 3, 2017. This budget constructs the package of measures agreed in the Medium Term Financial Plan (MTFP), combining savings, efficiencies and revenue raising measures to enable investment in
See MoreSwitzerland: Ordinance on exchange of CbC reports adopted
On 29 September 2017, Swiss Federal Council adopted an ordinance on the international automatic exchange of country-by-country reports on multinational firms. The exchange of country-by-country reports between Switzerland and its partner states
See MoreDTA between Switzerland and Zambia signs
The Double Taxation Agreement (DTA) between Switzerland and Zambia was signed in Lusaka on 29 August 2017. Once in force and effective, the new treaty will replace the existing DTA of 1954. The agreement contains Dividends rate 5% for at least 10%
See MoreGuernsey: The Beneficial Ownership of Legal Persons Law enacted
The Beneficial Ownership of Legal Persons (Guernsey) Law, 2017 came into force on 15 August 2017. The Law establishes the Office of the Registrar of Beneficial Ownership of Legal Persons, sets out the powers and functions of the Registrar, and
See MoreChina and Norway agree to renegotiate DTA
On 27 September 2017, during a meeting between China’s tax Minister Wang Jun and Norway’s Finance Minister Siv Jensen they agreed to renegotiate the Double Taxation Agreement (DTA) between the two countries. "I am pleased that we agree to start
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