International Law News

UK Tax Info Request To Dubai Resident Lawful, UK Court Says

by Jason Gorringe, Tax-News.com, London

Tuesday, February 12, 2019

The UK's Court of Appeal has ruled that HM Revenue and Customs acted lawfully when issuing a request to a British expat in Dubai for documents concerning his tax affairs. Read Full Story

IRS Launches Tax Filing Season

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 5, 2019

The United States Internal Revenue Service has announced that it "successfully" opened the 2019 tax-filing season, with the the agency now accepting and processing federal tax returns for the 2018 tax year. Read Full Story

EU To Probe Potential Abuses Of Citizenship By Investment Schemes

by Ulrika Lomas, Tax-News.com, Brussels

Monday, January 28, 2019

For the first time, the Commission has presented a comprehensive report on investor citizenship and residence schemes operated by a number of EU member states. Read Full Story

New IFRS Accounting Standard On Leases Effective

by Jason Gorringe, Tax-News.com, London

Monday, January 21, 2019

International Financial Reporting Standard 16 'Leases', issued in January 2016, is effective for annual reporting periods starting on or after January 1, 2019. It replaces IAS 17 Leases and related interpretations. Read Full Story

UK Launches Profit Diversion Compliance Facility For MNEs

by Jason Gorringe, Tax-News.com, London

Monday, January 14, 2019

HM Revenue and Customs has announced plans and guidance for a new Profit Diversion Compliance Facility, which is intended to support multinational companies concerned about their transfer pricing arrangements to resolve any issues with the tax agency. Read Full Story

EU Gazettes Directive For Generalised Reverse Charge Mechanism

by Ulrika Lomas, Tax-News.com, Brussels

Monday, January 7, 2019

EU legislation providing for the introduction of the "generalised reverse charge mechanism," to enable member states to better counter value-added tax fraud, has been published in the EU's Official Gazette and will become effective from January 16, 2018. Read Full Story

UK Crown Dependencies Introducing Economic Substance Rules

by Jason Gorringe, Tax-News.com, London

Friday, December 28, 2018

Each of the Crown Dependencies – Jersey, Guernsey, and the Isle of Man – have tabled legislation that will introduce new substance requirements for tax-resident firms engaged in certain industries from January 1, 2019. Read Full Story

Seychelles Enacts BEPS Legislation

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

Friday, December 28, 2018

Seychelles has enacted numerous legislative amendments that are intended to enable Seychelles to comply with the OECD's base erosion and profit shifting (BEPS) minimum standards. Read Full Story

EU VAT Changes On Vouchers To Take Effect

by Ulrika Lomas, Tax-News.com, Brussels

Friday, December 28, 2018

Significant changes to the way that businesses should account for value-added tax on vouchers will become effective on January 1, 2019. Read Full Story

Greece To Cut Corporate Tax

by Ulrika Lomas, Tax-News.com, Brussels

Friday, December 28, 2018

Greece will gradually lower the rate of corporate tax over the next four years, under proposals announced in September and recently approved by the Greek parliament. Read Full Story

Luxembourg Adopts Anti-Tax Avoidance Law

by Ulrika Lomas, Tax-News.com, Brussels

Friday, December 21, 2018

On December 18, 2018, Luxembourg's parliament approved legislation that will implement the European Union Anti-Tax Avoidance Directive. Read Full Story

Philippines To Soon Launch Tax Amnesty

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

Friday, December 21, 2018

Lawmakers in the Philippines have endorsed plans for a tax amnesty scheme that will cover estate taxes, general taxes, and delinquent accounts, covering liabilities up to December 31, 2017. Read Full Story