International Tax News

UK To Collect Interest On Overdue Digital Services Tax

by Jason Gorringe, Tax-News.com, London

Last updated 47 hours ago | Tuesday, September 22, 2020

The UK Government on September 16, 2020, tabled The Taxes (Interest Rate) (Amendment No. 2) Regulations 2020, which will enable HM Revenue and Customs to collect or pay interest on overpaid or underpaid digital services tax liabilities. Read Full Story

UAE To Allow Loans Secured By Movable Property

by Lorys Charalambous, Tax-News.com, Cyprus

Last updated 47 hours ago | Tuesday, September 22, 2020

The United Arab Emirates has released a new law that would allow businesses to use movable property to secure bank and commercial loans. Read Full Story

France Lowers Threshold For Tourist VAT Refunds

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 47 hours ago | Tuesday, September 22, 2020

France has cut the amount that tourists must spend to claim back the VAT on their purchases. Read Full Story

Cyprus, US To Begin Exchanging CbC Reports

by Lorys Charalambous, Tax-News.com, Cyprus

Last updated 47 hours ago | Tuesday, September 22, 2020

Cyprus has announced that a deal for the exchange of country-by-country reports between the territory and the US is expected to become effective and cover reporting years starting on or after January 1, 2020. Read Full Story

Netherlands Cancels Corporate Tax Rate Cut

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 47 hours ago | Tuesday, September 22, 2020

The Dutch Government has decided to cancel a planned decrease in the corporate tax rate in its 2021 Tax Plan. Read Full Story

Switzerland To Draft New Customs Tax Act

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, September 16, 2020

On September 11, 2020, the Swiss Federal Council launched a consultation on proposals for the total revision of the customs system. Read Full Story

Russia's Cabinet Approves Maltese DTA Amendments

by Lorys Charalambous, Tax-News.com, Cyprus

Last updated 47 hours ago | Tuesday, September 22, 2020

Russia's Government has approved wording for a draft Protocol that it will seek to conclude with Malta, to revise their double tax agreement to increase withholding tax rates at source for cross-border dividends and interest income. Read Full Story

EU Expecting COVID-19 Dent In 2020 VAT Collections

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 47 hours ago | Tuesday, September 22, 2020

The European Commission has published its latest VAT gap report, which show that EU countries lost an estimated EUR140bn (USD165.7bn) in VAT revenues in 2018. Read Full Story

Cyprus, Russia Agree Tax Hike On Cross-Border Dividends, Interest

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, September 14, 2020

Russia's Ministry of Finance has announced that it signed a Protocol to amend its double tax agreement with Cyprus on September 8, 2020. Read Full Story

France Enhances COVID-19 Tax-Free Bonus Scheme

by Ulrika Lomas, Tax-News.com, Brussels

Monday, September 14, 2020

The French tax authority has announced that it will modify and extend a scheme that allows employers to pay workers tax-free bonuses. Read Full Story

New Zealand Updates Virtual Currency Tax Guidance

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

Wednesday, September 16, 2020

New Zealand's Inland Revenue on September 7, 2020, announced the release of updated guidance on the tax treatment of crypto-assets in New Zealand, including virtual currencies. Read Full Story