New Zealand, Switzerland Update DTA

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

Thursday, August 8, 2019

New Zealand and Switzerland have signed a protocol to their double tax agreement that will introduce provisions to prevent treaty abuse and enhance how the countries resolve tax disputes. Read Full Story

Korea To Ease Tax Rules For Exporters To Japan

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

Thursday, August 8, 2019

South Korea's Government has announced that it will provide tax relief to small and medium size businesses that have been affected by Japan's decision to remove 159 South Korea products from its export "white list." Read Full Story

LLB-Switzerland Signs US Non-Prosecution Agreement

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

On August 5, 2019, the US Department of Justice announced that Swiss bank LLB Verwaltung (Switzerland) AG has agreed to pay a penalty of USD10.6m to resolve a case in which it was accused of helping US clients to conceal income. Read Full Story

India Gazettes Law For Budget Tax Changes

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

Thursday, August 8, 2019

India has published in its Official Gazette legislation to give effect to tax announcements in the 2019-20 Budget. Read Full Story

Germany To Close Tax Loophole For Enveloped Dwellings

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

The German Government has announced proposals that would curb land transfer tax avoidance involving the purchase of properties held by companies. Read Full Story

Georgia To Harmonize VAT Law With EU VAT Directive

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

Georgia's Ministry of Finance has launched a new consultation on value-added tax amendments that are intended to align Georgia's value-added tax law with EU VAT law provisions. Read Full Story

Belgium Accepting Amendments To Filed CbC Reports

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

Belgium's tax agency has announced that its MyMinfin portal is now open for multinational taxpayers seeking to correct errors in filed country-by-country reports. Read Full Story

IRS Responds To Altera Ruling On Cost Sharing Arrangements

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

On July 31, 2019, the United States Internal Revenue Service issued a memorandum for all Large Business and International Division employees informing them of the withdrawal of a directive regarding cost sharing arrangements in the light of the recent Court of Appeals ruling in the Altera case. Read Full Story

Mexico Ratifies New North American Free Trade Deal

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

Mexico has completed its domestic ratification procedures in respect of the new US-Mexico-Canada Agreement (USMCA), which will replace the North American Free Trade Agreement, with the US and Canada. Read Full Story

Poland Urges EU To Quickly Pass VAT Rate Reforms

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

Polish Finance Minister Marian Banas has urged the Finnish presidency of the European Union to press ahead with reform of EU VAT rate rules, to enable the country to reduce the rate of VAT on children's clothing and footwear. Read Full Story

Oman Says VAT Not On The Backburner

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, August 8, 2019

Oman's Government has released a statement confirming that it is preparing to introduce VAT legislation into parliament to implement the levy without delay. Read Full Story

Kosovo's New Corporate Income Tax Law In Force

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

Thursday, August 8, 2019

Kosovo's new corporate income tax law has entered into force and is effective from January 1, 2019. Read Full Story

Dominica Announces VAT, Property Tax Relief In 2019 Budget

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

Dominica's Budget, released on July 30, 2019, included value-added tax changes and tax relief for home owners. Read Full Story

Ecuador Explains New Transfer Pricing Risk Detection Systems

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

Authorities in Ecuador have worked with a number of international organization to develop a new framework to detect potential cases of transfer pricing abuse. Read Full Story

Italy Finalizes Rules For New Patent Box Regime

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

Italy's tax agency on July 30, 2019, published a definitive version of the rules for the operation of the country's patent box regime. Read Full Story

US Senators Urge 'Fairness' Change To Capital Gains Tax Calculations

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

A group of 21 Republican members of the US Senate have signed a letter to the Treasury Secretary urging him to amend how capital gains tax liability is calculated. Read Full Story

Singapore Issues GST Form Instructions For Reverse Charge Supplies

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

Thursday, August 8, 2019

The Inland Revenue Authority of Singapore (IRAS) has released new guidance for GST-registered persons on the completion of new boxes in the GST F5 return from next year. Read Full Story

Greek Lawmakers Approve Property Tax Relief

by Ulrika Lomas, Tax-News.con, Brussels

Thursday, August 8, 2019

On July 30, 2019, the Greek parliament approved government proposals for a reduction in the unified property tax, ENFIA, and relaxed repayment rules for individuals with other tax debts. Read Full Story

Mauritius Gazettes Budget Tax Measures

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, August 8, 2019

Mauritius has published in its Official Gazette legislation to enact measures announced in the territory's latest Budget, contained in The Finance (Miscellaneous Provisions) Act 2019. Read Full Story

Austria To Introduce New Angel Investor Tax Breaks

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

The European Commission has approved an Austrian tax incentive for mid-sized business financing companies. Read Full Story

Bulgaria Approves CbC Exchange Agreements With US

by Ulrika Lomas, Tax-News.con, Brussels

Thursday, August 8, 2019

Bulgaria's Council of Ministers earlier this month approved two agreements with the United States allowing for the automatic exchange of country-by-country transfer pricing reports. Read Full Story

Gibraltar Adopts EU Dispute Resolution Rules

by Jason Gorringe, Tax-News.com, London

Thursday, August 8, 2019

Gibraltar has enacted new regulations to transpose the EU's new tax dispute resolution mechanisms, set out in EU Council Directive 2017/1852, into Gibraltar's domestic tax law. Read Full Story

Greece Warned On Tax Rules Concerning Foreign Losses

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

The European Commission has urged Greece to align its rules regarding the limited deductibility of foreign losses. Read Full Story

Canada To Legislate For Budget Tax Reforms

by Mike Godfrey, Tax-News.com, Washington

Thursday, August 8, 2019

The Canadian Government is consulting on draft legislative proposals to implement a number of tax measures announced in the 2019 Budget. Read Full Story

First Costa Rican VAT Returns Due By August 16

by Mike Godfrey, Tax-News.com, Washington

Thursday, July 25, 2019

Costa Rica's tax authority has released new online forms for declaring value-added tax, capital income, and capital gains. Read Full Story

• 25/07/2019 Ireland Issues Guidance On New Anti-Hybrid Mismatch Rules »
• 24/07/2019 NZ Issues Guidance On Fixing Errors In Tax Submissions »
• 24/07/2019 IRS Clarifies FTC Rules For French Social Taxes »
• 24/07/2019 Hong Kong Issues New Guidance On Foreign Tax Credits »
• 24/07/2019 UK To Proceed With Plans For Plastics Tax »
• 24/07/2019 Polish Lower House Approves VAT Split Payment Rules »
• 23/07/2019 Spain To Press Ahead With Digital Tax »
• 23/07/2019 IRS's New Enforcement Initiatives Are Aimed At Individuals »
• 23/07/2019 G7 Backs OECD In Push For Global Digital Tax Response »
• 22/07/2019 UK Shelves Plans For Surcharge On Overseas UK Property Buyers »
• 22/07/2019 Finland To Issue Tax Guidance On Valuing Non-Cash Dividends »
• 22/07/2019 Ecuador Eases Schedule For Advance Corporate Tax Payments »
• 19/07/2019 US Senate Approves Changes To Four Double Tax Pacts »
• 19/07/2019 Vietnam To Focus On Transfer Pricing Abuse, Tax Debtors »
• 19/07/2019 IRS Provides Additional Transition Tax Guidance »
• 19/07/2019 Costa Rica Did Not Repeal Sales Tax Exemptions In New VAT Law: AG »
• 18/07/2019 New EC President Announces Plans For EU Carbon Border Tax »
• 18/07/2019 OECD Seeks Feedback On Dispute Resolution In Ten Jurisdictions »
• 18/07/2019 Indonesia To Seek VAT From Overseas E-Services Providers »
• 18/07/2019 Slovenia To Launch VAT Probe Into Consignees »
• 18/07/2019 Polish Government Approves Income Tax Cut For Low Earners »
• 18/07/2019 Romanian Opposition Pushes For 16pc VAT Rate »
• 17/07/2019 Brazil's Legislature Considering A VAT, Individual Tax Reform »
• 16/07/2019 Seychelles Seeks Input On Corporate Tax Regime Overhaul »
• 16/07/2019 US Senate To Vote On Tax Treaty Protocols »

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