Why ‘Digital Taxes’ Are the New Trade War Flashpoint
A further discussion on the possible treatment of digital taxes in today's world where it has its hugest economic presence. ... - Continue reading
Category: Regulatory
Cyprus: Double Tax Treaty Between Cyprus And Kazakhstan Ratified; Will Enter Into Force 2021
Cyprus and Kazakhstan sign double taxation agreement with one another. ... - Continue reading
Higher tax bill for Cyprus businesses after new law
Cyprus is aiming to better tackle tax avoidance by companies through a new legislation. The latter mainly addresses base erosion and profit shifting. ... - Continue reading
Angola, UAE ratify tax agreement to remove trade barriers
LUANDA, June 16 (Xinhua) — Angola and the United Arab Emirates (UAE) have ratified a Convention to Avoid Double Taxation and Tax Evasion, director of the press office of the Angolan General Tax Administration said on Tuesday. Braulio Assis said the tax agreement aims to ensure a greater flow of… – Continue reading
Gov’t tightens property rules to stem speculation
More on property tax laws in South Korea. ... - Continue reading
Australia tightens rules on foreign investment
Australia becomes more stringent regarding foreign investments. ... - Continue reading
Challenges for Transfer Pricing in an Economic Downturn
It is no surprise to anyone that we are now enterring a recession due to the economic chaos caused by the COVID-19. Consequently, countries all over the world have been adjusting their tax laws to the unprecedented turn of events. In this article, we will focus on transfer pricing laws. ... - Continue reading
Nigeria: Nigerian Government Issues Amendments To Order On Voluntary Offshore Assets Regularisation Scheme (VOARS)
Nigeria issues an amendment order for the Voluntary Offshore Assets Regularisation Scheme (VOARS). ... - Continue reading
Another COVID-19 Enforcement Tool: Money Laundering Law
This article discusses about the role of anti money laundering during the 2020 pandemic. ... - Continue reading
Indonesia defends digital tax policy despite US scrutiny
The USA seems to be relentless at discouraging the trending 'Digital Tax which seems inevitable now. France has also already shown a keenness towards its imposition, and now it's the turn of Indonesia. ... - Continue reading
Voices CARES Act offers overlooked opportunities for tax refunds, but first check cross-border prices
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, U.S. corporations can now elect to carryback losses incurred in 2020 for a five-year period (2015 to 2019). While losses incurred in 2018 and 2019 can also be carried back five years, this article addresses 2020 current year opportunities. The… – Continue reading
Move to tax online sellers ‘unnecessary, insensitive’
Senator Sherwin Gatchalian expressed his disagreement concerning the treatment of online taxes. ... - Continue reading
German cabinet passes stimulus tax measures
After the 2020 crisis, Germany has taken a few steps to fuel its economy. ... - Continue reading
US, Curacao agree to exchange country-by-country tax reports on large multinational groups
The United States and Curacao have joined hands to better counteract tax avoidance on the behalf of multinationals. ... - Continue reading
Tax evasion of Rs 8 cr found in paan masala smuggling case
Tax evasion of Rs 8 crore unveiled. ... - Continue reading
Taxing offshore indirect transfers, the Platform’s new toolkit
A new toolkit for offshore indirect transfers has been released on 4 June 2020. ... - Continue reading
Spotlight on Mauritius tax treaty in Tiger Global ruling
Tiger Global in a difficult court case as it finds itself deprived of tax relief by the Authority of Advance Ruling (AAR). ... - Continue reading
Germany proposes substantial VAT rate reduction, tax loss carryback expansion
Proposals of expansion of tax loss carrybacks in 2020 from EUR 1 million to EUR 5 million. ... - Continue reading
Belgium to introduce tax loss carryback, recovery reserve in response to pandemic
Belgium comes up with more measures to counteract COVID-19 pandemic. ... - Continue reading
Cyprus: Cyprus Holding Company Advantages
Tax benefits of a holding company in Cyprus. ... - Continue reading
PwC tax guru informs Croats abroad about Croatian tax system and double taxation
What non-residing Croats need to know on the Croatian tax laws and double taxation. ... - Continue reading
Nigeria: FIRS Extends Deadline For Filing Information Returns Under The AEOI-CRS
The Tax Authority o Nigeria has extended the deadline for CRS and AEOI 2019 reporting. ... - Continue reading
India: Transfer Pricing And COVID-19 — Repercussions, Re-Evaluation And Way Forward
Here is a discussion on multinational enterprises (MNEs) and their possible treatment of the aftermath of the COVID-19 pandemic. ... - Continue reading
Guernsey: Guernsey’s New Mandatory Disclosure Rules Regulations
New income disclosure laws are here for Guernsey. ... - Continue reading
HMRC wins tax treaty case against S. African diver
And a win for the UK tax authority - the HMRC. ... - Continue reading
ITR forms for 2019-20 notified; disclosure of electricity bill over Rs 1 lakh mandatory
Filing of ITR over Rs1 lakh now compulsory for companies. ... - Continue reading
FBR mulls online feature to show WHT deduction
The tax authority of Pakistan to introduce an online option as tax reform. ... - Continue reading
United States: GAO Recaps “Priority Open Recommendations” For The FRB
This article throws light upon the recommendations of the Government Accountability Office(GAO) about its banking system. ... - Continue reading
Senegal tears up its double tax treaty with Mauritius
Senegal cancels double taxation agreement with Mauritius. ... - Continue reading
British Virgin Islands: BVI CbCR Reporting System And FATCA / CRS Deadlines Extended
Since March 2020, the BVI International Tax Authority (the "ITA") has been accepting electronic filings for Country-by-Country Reporting ("CbCR") following the lockdown situation. ... - Continue reading
Canada: CRA Provides Temporary Relief From COVID-19 Cross-Border Tax Concerns
A look at the tax relief that Canada is providing during this unforeseen crisis. ... - Continue reading
Canada: U.S. Releases Anti-hybrid Regulations
The Internal Revenue Service (IRS) and U.S. Treasury Department have released anti-hybrid laws for offshore transactions. ... - Continue reading
Ireland: Aviation Finance And Leasing Guide 2020
Guidance for the purchase of aircrafts in Ireland. ... - Continue reading
Countries still can’t agree on update to multinational group taxation rules, OECD official says
The 137 member countries of the “Inclusive Framework on BEPS” are having a disaccord regarding a legislation for multinationals. ... - Continue reading
Italy’s Supreme Court rules on VAT treatment of intercompany management fees
Highlights on a recent court case in Italy regarding transfer pricing. ... - Continue reading
Malta: OECD: Tax Implications Of COVID-19
Many offshore issues have been arisen from the pandemic. This has led many countries to take unprecedented measures, and OECD has been walking alongside them to provide guidance - Malta. ... - Continue reading
How to Determine Your Foreign Employees’ IIT Liability in China: COVID-19 Travel Ban Series
Guidance for companies in China with non-domiciled employees. ... - Continue reading
Double-tax draft law with Malaysia and South Korea shows progress
This article discusses the benefits of Cambodia's double taxation agreements with Malaysia and South Korea. ... - Continue reading
Cyprus: The End Of Treaty Abuse And A Fresh Start Of Tax Treaty Use – The Multilateral Instrument (MLI)
Cyprus signed the Multilateral Instrument(MLI) earlier this year in an attempt to reform its tax system. This article navigates through the effects of this tax treaty. ... - Continue reading
Cayman Islands: New CRS Form Released And FATCA Deadline Extended
A new CRS compliance form has been issued by the Cayman Islands Tax Information Authority. ... - Continue reading
Seoul to implement convention on MNCs’ tax avoidance in Sept.
Seoul signs multilateral convention to counter tax avoidance. ... - Continue reading
TAX HAVEN COMPANIES NOT EXCLUDED FROM DUTCH STATE AID
Due to the new pandemic, many countries throughout the world are offering tax relief to their businesses. Unlike a few countries though, Netherlands is not excluding its companies from its government assistance program despite their tax benefits from tax havens. ... - Continue reading
BEPS MLI to enter to force for Czech Republic, Korea
Czech Republic and South Korea ratify the Multilateral Convention to Implement Tax Treaty Related Measures in an effort to fight against Base erosion and Profit Shifting. ... - Continue reading
Italy’s financial transaction tax complies with EU law, court rules
The European Court of Justice judges Italy’s financial transaction tax to be compatible with EU laws. ... - Continue reading
China: Taxation On A Foreign Enterprise Without A Physical Office In China: Are You Obligated To Pay?
Questions on physical presence and tax residence in China answered. ... - Continue reading
Canadian gov’t helps big businesses weather COVID-19 pandemic
Canada helps small and medium as well big businesses in the midst of the COVID-19 pandemic. ... - Continue reading
Gibraltar: Gibraltar Ratifies Double Tax Agreement With The UK
Gibraltar and the United Kingdom join hands together to fight double taxation. ... - Continue reading
German finance ministry clarifies transfer pricing proposal
"No price-setting approach", confirms the German Finance Ministry. ... - Continue reading
FBR mulling over options to fetch additional Rs600bn
There's no denying that the whole world is having to prepare for a tough economic situation right now following the wave of the COVID-19. Here are some of Pakistan's forethoughts to remedy its economy. ... - Continue reading
