Russia: Ministry of Finance clarifies VAT rules for foreign goods sales
The Russian Ministry of Finance issued Guidance Letter No. 03-07-08/22634 on 14 March, 2024, providing clarification on VAT calculations for foreign-made goods sold under contract in Russia. According to Paragraph 4 of Article 153 of the Russian
See More
Austria, Russia suspends tax treaty
Austria's Ministry of Finance has issued a new Decree, on 30 May, 2024, superseding a previous Russian notice from December, 2023, regarding the suspension of the 2000 income and capital tax treaty. The decree reiterates the provisions affected
See More
Switzerland ratifies tax treaty with Slovenia
The Swiss Council of States, the upper house of parliament, approved the ratification of the 1996 income and capital tax treaty with Slovenia on 30 May, 2024. The protocol implements the minimum standards for double taxation agreements. Signed
See More
Ukraine: Parliament ratifies income tax treaty with Japan
The Ukraine parliament has approved the ratification of the pending income tax treaty with Japan on 5 June, 2024. It will come into effect 30 days after the exchange of ratification instruments, with application commencing from 1 January of the
See More
Hungary reports on Belarus tax treaty suspension
The National Tax and Customs Administration of Hungary issued a release on 3 June, 2024, concerning the Republic of Belarus's decision to suspend certain provisions of the 2002 tax treaty between the two nations. The suspension went into effect
See MoreSwitzerland parliament ratifies tax treaty protocol with France
The Swiss Council of States (the upper house of parliament) announced that it ratified the pending protocol to the 1966 income and capital tax treaty with France on 30 May, 2024. The Switzerland-France protocol was first signed on 27 June, 2023,
See More
Turkey adjusts tax debt instalments in force majeure extension
Turkey's Revenue Administration has released Presidential Decision No. 8515, adjusting instalment payments for tax debt restructuring under previous laws, which includes Law No. 7256 of 11 November 2020, and Law No. 7326 of 3 June 2021, in response
See More
UK revises arbitration rules under BEPS MLI
The OECD has released documents related to information on the United Kingdomโs arbitration position under Part VI of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Part VI
See More
Turkey ratifies treaty with Korea (Rep.)
Turkish President Recep Tayyip Erdoฤan signed the decision to ratify a new income tax treaty with South Korea on 31 May, 2024. The treaty was made to prevent double taxation in taxes on income and to prevent tax evasion and tax
See More
UK enacts Finance (No. 2) Act 2024 with Spring Budget 2024 measures
The UK enacted the Finance (No. 2) Act 2024 after receiving royal assent on 24 May, 2024. This legislation implements several measures announced in the 2024 Spring Budget. The annual charge for income tax for the 2024-25 tax year and the
See More
Malaysia publishes synthesised text of tax treaty with Luxembourg under BEPS MLIย
The Inland Revenue Board of Malaysia (IRBM) has released the synthesised text of the tax treaty with Luxembourg, providing clarifications regarding the impact of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base
See MoreRussia clarifies conditions for 0% tax rate for IT companies
The Russian Ministry of Finance recently issued Guidance Letter No. 03-03-06/1/28535 on 29 March 2024, which sheds light on the conditions governing the application of a reduced corporate tax rate of 0% for IT companies utilising their own computer
See More
Turkey is in the final stages of adopting the Pillar Two global minimum tax
Turkey is in the final stages of adopting the Pillar Two global minimum tax, according to a report published in Anadolu Agency, a state-owned Turkish news agency. Mehmet ลimลek, Treasury and Finance Minister, emphasised the significance of
See More
Costa Rica, Iceland TIEA goes into effect
The tax information exchange agreement (TIEA) between Costa Rica and Iceland took effect on 10 September, 2023. Applicable to criminal tax matters from the date it went into force, the agreement extended to other matters starting 1 January,
See More
Russia proposes progressive tax for corporations, wealthy individuals
Russia's finance ministry has put forth proposals for significant tax changes, including a progressive income tax structure for higher earners and increased corporate taxes, aimed at bolstering budget revenues. The amendments, slated for
See More
Ireland releases new guidelines on employment status for tax purposes
The Irish Revenue has released eBrief No. 140/24 which provides new guidance on how to determine employment status for tax purposes on 21 May, 2024. The new Tax and Duty Manual (TDM) has been created to outline the implications for determining
See More
UK: Parliament enacts Spring Finance Billย
The Committee stages of the Finance (No. 2) Bill 2023-24 (also known as the Spring Finance Bill) concluded on 21 May, 2024. The bill was introduced after the conclusion of the March Spring Budget and reviewed by a Public Bill Committee where no
See More
Spain: Lower House approves tax treaty with Paraguay
The Spanish Congress of Deputies (the lower house of parliament) passed the law to ratify the pending income tax treaty with Paraguay on Tuesday, 23 May, 2024. Signed on 25 March, 2023, this tax agreement is a first between the two nations. It
See More