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Business News



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


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


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


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


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


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


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


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


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


UK To Proceed With Plans For Plastics Tax

by Jason Gorringe, Tax-News.com, London

Thursday, July 25, 2019

The UK Government has confirmed that it will proceed with its plans to introduce a plastics packaging tax. Read Full Story











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