interest News

Singapore Adds To Guidance On ICAP Participation

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

Monday, March 21, 2022

The Inland Revenue Authority of Singapore (IRAS) has issued guidance for taxpayers on accessing the International Compliance Assurance Programme, a voluntary risk assessment and assurance program. Read Full Story

US IRS To Pause Some Tax Enforcement Proceedings

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 16, 2022

The US Internal Revenue Service (IRS) has suspended the use of more than a dozen additional letters, including the mailing of automated collection notices, normally issued when a taxpayer owes additional tax and the IRS has no record of a taxpayer filing a tax return. Read Full Story

UK Delays Overhaul To Tax Non-Compliance Penalties

by Jason Gorringe, Tax-News.com, London

Thursday, January 20, 2022

HM Revenue and Customs is reforming late-filing and payment penalties to make them fairer and more consistent across taxes. The first stage of these reforms was set to come into effect early this year. However, on January 13, 2022, HMRC postponed the effective dates by nine months to one year. Read Full Story

Switzerland Publishes Review Of 2021 Tax Progress

Thursday, January 20, 2022

As part of its commitment to fighting cross-border tax evasion and profit shifting, Switzerland sent information on over 3m financial accounts in 2021, according to a new review of the Swiss financial center by the State Secretariat for International Financial Matters. Read Full Story

Ecuador Introduces Amnesty And Taxes On Assets

by Mike Godfrey, Tax-News.com, Washington

Wednesday, January 5, 2022

Legislation has been enacted in Ecuador to introduce new taxes on companies and wealthy individuals, to fund government efforts during the COVID-19 pandemic. Read Full Story

EU Finance Ministers Agree Landmark VAT Rate Rule Changes

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, January 5, 2022

EU finance ministers have agreed an update to the rules governing value-added tax rates for goods and services. Read Full Story

Hong Kong To Amend Tax Rules For Foreign-Source Passive Income

by Jason Gorringe, Tax-News.com, London

Monday, November 1, 2021

The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories. Read Full Story

EU Seeks Input On New Withholding Tax Directive

by Ulrika Lomas, Tax-News.com, Brussels

Monday, October 4, 2021

On September 28, 2021, the European Commission launched a consultation on a proposed Directive that would obligate member states to introduce the same rules regarding withholding tax on dividend and interest payments. Read Full Story

Colombia Enacts Decree To Support Struggling Firms

by Mike Godfrey, Tax-News.com, Washington

Wednesday, August 25, 2021

The Colombian Government has issued Decree 939 of August 19, 2021, which enables the tax agency to revise an assessment for potentially viable companies that are facing insolvency, where doing so may save the company and jobs. Read Full Story

OECD Receives Backing For Historic International Tax Overhaul

by Ulrika Lomas, Tax-News.com, Brussels

Friday, August 6, 2021

The OECD has said 131 countries and jurisdictions have put their name to an international agreement on an overhaul to tax rules for the digitalized economy and for large multinational businesses. Read Full Story

Page 1