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IRS To Close Carried Interest Loophole, Says Mnuchin

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 21, 2018

The Internal Revenue Service (IRS) will issue guidance soon to close a tax loophole that is said to be enabling hedge fund managers to access lower rates of tax reserved for carried interest. Read Full Story

 


Philippines Senate Approves Double Taxation Treaties

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

Wednesday, February 21, 2018

On February 19 the Philippines Senate adopted three resolutions ratifying agreements for the avoidance of double taxation with Mexico, Thailand, and Sri Lanka. Read Full Story

 


Polish Government Adopts SEZ Plan

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 21, 2018

The Polish Government has approved plans to effectively extend the scope of Poland's Special Economic Zones regime nationwide. Read Full Story

 


Israel Confirms Virtual Currency Is 'Property'

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, February 21, 2018

The Israeli tax authority has decided that virtual currencies, such as Bitcoin, should be treated as a form of "property," rather than as foreign currency. Read Full Story

 


SMEs Urge Canada To Go Slow On Tax Reform

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 20, 2018

New Canadian rules on income sprinkling are barely understood and SMEs are concerned at the prospect of a crackdown on passive investments, according to the president of the Canadian Federation of Independent Business. Read Full Story

 


US Taxpayers 'Failing To Disclose Crypto Gains'

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 20, 2018

Very few US taxpayers are reporting cryptocurrency gains in their tax returns, according to preliminary figures published by a tax return preparation company. Read Full Story

 


India Clarifies Capital Gains Tax Changes

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

Wednesday, February 14, 2018

India's Central Board of Direct Taxes has released further information on the long-term capital gains tax announced in the recent budget, in the form of a list of answers to frequently asked questions. Read Full Story

 


Norway Defends Oil Tax Regime

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, February 14, 2018

The Norwegian Government has defended its tax regime for oil exploration against a complaint that it breaches European Economic Area state aid rules. Read Full Story

 


China Sets Out How To Determine Beneficial Owner For Treaties

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

Tuesday, February 13, 2018

On February 3, 2018, China's State Administration of Taxation set out new rules on the disallowance of tax treaty benefits where an entity fails to demonstrate it is the beneficial owner of Chinese assets from which passive income is derived. Read Full Story

 


Australia Adds To Diverted Profits Tax Guidance

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

Tuesday, February 13, 2018

The Australian Tax Office on February 7 released draft Practical Compliance Guideline 2018/D2 on the operation of Australia's Diverted Profits Tax for consultation. Read Full Story

 

 

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