Norway Announces Tax Breaks In Revised Budget

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, May 17, 2018

Norway's Government on May 15, 2018, released a revised Budget, including a VAT exemption for electronic publications, changes to tax reliefs for corporates, and a simplified tax regime for foreign workers. Read Full Story

HK's Legislature Passes 2018/19 Budget Bill

by Mary Swire, Tax-News.com, Hong Kong

Thursday, May 17, 2018

Hong Kong's Secretary for Financial Services and the Treasury, James Lau, has welcomed the recent passage of the 2018/19 Budget Bill through the special administrative region's parliament. Read Full Story

Ireland Releases Virtual Currency Tax Guidance

by Robert Lee, Tax-News.com, London

Thursday, May 17, 2018

The Irish Revenue has issued an eBrief to clarify how "normal tax rules" apply to transactions involving cryptocurrencies. Read Full Story

UK Criticized For Overzealous Offshore Tax Enforcement Plans

by Jason Gorringe, Tax-News.com, London

Thursday, May 17, 2018

The Chartered Institute of Taxation has criticized a new UK government proposal to extend significantly the tax assessment time limits in cases involving offshore tax matters. Read Full Story

Singapore Legislates For IP Tax Concession Reform

by Mary Swire, Tax-News.com, Hong Kong

Thursday, May 17, 2018

Singapore has gazetted a law to repeal the income tax concession for intellectual property income derived by companies benefiting from the Pioneer Service Companies Incentive or the Development and Expansion Incentive schemes. Read Full Story

EU Council Adopts Directive To Make Company Ownership Data Public

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, May 17, 2018

The European Council has approved a new package of rules designed to prevent fiscal crime, including allowing the public access to information on the beneficial ownership of companies. Read Full Story

Germany To Provide Tax Relief In 2019

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 11, 2018

German Finance Minister Olaf Scholz has indicated that the Government may provide limited personal income tax relief by adjusting tax brackets next year, with tax revenues expected to be higher than targeted over the next few years. Read Full Story

South Africa Invites Comment On VAT Zero-Rate Review

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, May 11, 2018

South Africa's National Treasury is inviting the public to contribute to a review of the list of items zero-rated for value-added tax purposes. Read Full Story

Saint Lucia Commits To BEPS Minimum Standards

Friday, May 11, 2018

Read Full Story

HK Government Studying Vacant Property Tax

by Jason Gorringe, Tax-News.com, London

Friday, May 11, 2018

Hong Kong's Government says it is studying the feasibility of introducing a tax on vacant "first-hand" private residential properties. Read Full Story

Macau To Sign OECD Multilateral Information Exchange Treaty

by Mary Swire, Tax-News.com, Hong Kong

Friday, May 11, 2018

Macau's Chief Executive has issued an order authorizing signature of the OECD Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information. Read Full Story

Switzerland To Implement Philippines Trade Deal

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 11, 2018

The Swiss Federal Council has announced that the free trade agreement between the European Free Trade Association and the Philippines will enter into force for Switzerland on June 1. Read Full Story

Australia Budget Cuts Personal Income Tax

by Mary Swire, Tax-News.com, Hong Kong

Friday, May 11, 2018

In addition to extending an increased expensing limit for small firms, reforming the research and development tax incentive, and committing to further corporate tax cuts, the Australian Government has announced significant personal income tax relief in what is expected to be the last Budget before elections. Read Full Story

Cayman Launches CbC Reporting Portal

by Mike Godfrey, Tax-News.com, Washington

Friday, May 11, 2018

The Cayman Islands' country-by-country (CbC) reporting portal is now open, with the first CbC reports due from some taxpayers by the end of the month. Read Full Story

Swiss Tax Agency Exchanges Information On Advance Tax Rulings

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 11, 2018

The Swiss Federal Tax Administration has confirmed that it has transmitted its first spontaneous information reports on advance tax rulings to exchange of information partner states. Read Full Story

Barbados Rejects UK Push For Public Beneficial Ownership Register

by Mike Godfrey, Tax-News.com, Washington

Friday, May 11, 2018

Barbados's Minister of Industry, International Business, Commerce, and Small Business Development, Donville Inniss, has told a Society of Trust and Estate Practitioners (STEP) conference there is no support on the island for a public register of beneficial ownership. Read Full Story

EU May Simplify VAT Rules For SMEs Earlier, Starting 2020

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 11, 2018

The EU's Committee on Economic and Monetary Affairs has recommended that the implementation of proposals to significantly simplify value-added tax compliance obligations for small and medium enterprises should be brought forward to the beginning of 2020. Read Full Story

Maldives Introduces Thin Capitalization Rule

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, May 11, 2018

The Maldives Inland Revenue Authority has issued a ruling prescribing a thin capitalization rule to limit deductions for interest and payments economically equivalent to interest. Read Full Story

India Announces Plans To Simplify GST Filing, Overhaul Refund System

by Mary Swire, Tax-News.com, Hong Kong

Friday, May 4, 2018

Meeting on May 4, 2018, India's GST Council approved plans to simplify GST filing obligations. Read Full Story

S Korea Issues Guide For Foreign Taxpayers

by Mary Swire, Tax-News.com, Hong Kong

Friday, May 4, 2018

South Korea's National Tax Service has released guidance in English for foreign taxpayers to comply with their South Korean tax affairs. Read Full Story

UAE Waives VAT On Precious Metals Trading

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, May 3, 2018

The UAE's Cabinet has announced that wholesale trading in gold and diamonds will be made exempt from value-added tax. Read Full Story

Australia To Scrutinize Company Vehicle Tax Claims

by Mary Swire, Tax-News.com, Hong Kong

Thursday, May 3, 2018

The Australian Taxation Office has said that it will be examining claims for car expenses this tax time as part of a broader focus on work-related expenses. Read Full Story

Malta Ratifies BEPS Convention

by Jason Gorringe, Tax-News.com, London

Thursday, May 3, 2018

Malta has become the latest country to ratify the OECD's multilateral convention to counter base erosion and profit shifting. Read Full Story

New Zealand Consults On Imposing GST On Low-Value Imports

by Mary Swire, Tax-News.com, Hong Kong

Thursday, May 3, 2018

New Zealand has launched a consultation on proposals to charge goods and services tax on consignments worth less than NZD400, which currently benefit from a tax exemption for low-value imports, from October 1, 2019. Read Full Story

IRS Proposes To Prioritize Tax Cuts And Jobs Act Guidance

by Mike Godfrey, Tax-News.com, Washington

Thursday, May 3, 2018

The United States Treasury Department and the Internal Revenue Service will delay a number of guidance projects until later years as they prioritize guidance connected with the tax reform provisions in the Tax Cuts and Jobs Act. Read Full Story

• 03/05/2018 UK Updates Missing Trader VAT Fraud Guidance For Traders »
• 03/05/2018 Ambitious Tax System Changes Still Necessary In Greece: OECD »
• 02/05/2018 Ireland Introduces New Sugary Drinks Tax »
• 02/05/2018 Taiwan Extends Day Trading Tax Break »
• 02/05/2018 UK Launches Review To Simplify Inheritance Tax Rules »
• 02/05/2018 New Cypriot E-Payment Obligation From June 2018 »
• 30/04/2018 EU VAT Cooperation Proposals To Be Amended »
• 30/04/2018 Canada Urged To Introduce Digital Tax Nexus Rules »
• 30/04/2018 Luxembourg Gazettes New IP Box Regime »
• 30/04/2018 Hong Kong To Ensure ITVF Tax Break For Offshore Investors »
• 27/04/2018 OECD Personal Tax Burden Crept Higher Still In 2017 »
• 27/04/2018 South Africa Launches VAT Zero Rate Review »
• 26/04/2018 EU Seeks To Prevent BEPS With New Company Law Rules »
• 26/04/2018 UAE's First VAT Quarterly Filing Deadline April 29 »
• 25/04/2018 Hong Kong Tables Bill For Research And Development Tax Breaks »
• 25/04/2018 IRS Issues Guide On New Depreciation And Expensing Rules »
• 25/04/2018 Panama Updates Transfer Pricing Reporting Form »
• 25/04/2018 Irish Knowledge Development Box Off To A Slow Start »
• 25/04/2018 New Zealand's Tax Reform Consultation Ends This Week »
• 25/04/2018 Denmark May Reduce Electricity Tax 'Significantly' »
• 25/04/2018 Ireland Consults On Local Property Tax Changes »
• 24/04/2018 Italy Receives EU Green Light For Real-Time VAT Reporting »
• 23/04/2018 HMRC Notes Tax Administration Automation Milestone »
• 20/04/2018 Time For Latin America, Caribbean To Hike Tax: World Bank »
• 20/04/2018 Think Tank Calls For Scottish VAT Devolution »