Russia: Zero VAT rate applicable to freight services provided by certain vessels
The Finance Ministry (MoF) has issued Letter No. 03-07-РЗ/32218 on July 3, 2014 describing the VAT rate applicable to the provision of services of seaborne vessels and combined navigation vessels based on time charter agreements for the reason of
See MoreTurkey -Moldova FTA signed
The Free Trade Agreement (FTA) between Moldova and Turkey has signed on September 11, 2014. Further details will be reported
See MoreAlbania-UAE Income and Capital Tax Treaty has been ratified
The Income and Capital Tax Treaty between Albania and United Arab Emirates has been ratified on June 19, 2014 by the Albanian Parliament by way of Law No. 61/2014 as released in the Official Gazette No. 109 of July 11, 2014. Further details will be
See MoreRussia: Simplification in VAT invoice
Businesses those are VAT registered in Russia will no need to deliver consumers along with full VAT receipts from 1st October 2014. The VAT invoices in Russia must be delivered within 5 days of the provision of the service or goods. This change will
See MoreEU-Ukraine Association Agreement Ready To Ratify
The technical preparation of the EU-Ukraine Association Agreement for its subsequent ratification by parliament will be completed in the near future, the Ukrainian Foreign Ministry has said. Both sides will progressively establish a free trade area
See MoreSwitzerland – Ghana: Protocol treaty signed
The protocol to Ghana - Switzerland Income and Capital Tax Agreement of 2008 has been signed on 22 May 2014 and this protocol provides an exchange of information provision (article 26 of the OECD Model).Further details of the treaty will be reported
See MoreRussia: Interest derived by a foreign company is subject to CIT
The Finance Ministry has released Letter No. 03-00-08/2/29954 that describes the tax treatment applicable to interest paid by a Russian resident individual to a foreign company on the basis of loan agreement. In accordance with article 246 of tax
See MoreAndorra – Switzerland: Exchange of information agreement ratified
The Andorra - Switzerland exchange of information agreement of 2014 was ratified by Andorra on 24 July 2014 and after the ratification that law was released in the Official Bulletin No. 51(Andorra) on 27 August 2014. Further details of the agreement
See MoreMalta and United States FATCA Enters Into Force
The Foreign Account Tax Compliance Act (FATCA) agreement (2014) between Malta and the United States entered into force on 26 June 2014. The Agreement, which is a Model 1A, was signed on 16 December 2013. Under the agreement, Foreign Financial
See MoreBulgaria: Ministry of Finance warns on Budget
Recently, Interim Finance Minister has said that a revised budget in Bulgaria is unavoidable following an under performance in revenue collection, and that efforts would be prepared to increase revenue from VAT and excise duty. The Finance
See MoreEstonia-Switzerland: Singed Protocol To Income and Capital Tax Treaty
Estonia and Switzerland signed protocol treaty to the Estonia - Switzerland Income and Capital Tax Treaty of 2002, on 25 August 2014 and it was amended by the exchange of notes
See MoreHong Kong signed exchange of information agreement with Norway
The Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the Kingdom of Norway signed an agreement regarding exchange of information relating to tax matters on 22 August 2014. Under the
See MoreHong Kong signed exchange of information agreement with Iceland
The Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of Iceland signed an agreement regarding exchange of information relating to tax matters on 22 August 2014. Under the agreement,
See MoreHong Kong signed exchange of information agreement with Greenland
The Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of Greenland signed an agreement regarding exchange of information relating to tax matters on 22 August 2014. The Government of
See MoreHong Kong signed exchange of information agreement with Faroe Islands
The Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the Faroes signed an agreement regarding exchange of information relating to tax matters on 22 August 2014. The Faroes concludes
See MoreUkraine changes VAT anti-fraud strategy for 2015
In order to reduce extensive fraud on VAT, the Ukraine VAT code is to be updated from January 1, 2015. The changes include; The VAT registration threshold is to be increased from UAH 300,000 to UAH 1,000,000. Goods may not be sold for an amount
See MorePoland – British Virgin Islands: Tax Information Exchange Agreement Signed
Poland and British Virgin Islands initialed TIEA (Tax Information Exchange Agreement) on 7 August 2014 after completion of Poland’s domestic ratification
See MoreRussia: No VAT on foreign IP sales
Intellectual property means the rights or license for copyrights, trademarks and patents to apply. According to the Federal Tax Service, the sales for Intellectual Property (IP) by a foreign company to a Russian company for apply outside of Russia
See More