Category: Tax Laws

Legislation / Mutual Agreement Procedure / Netherlands / Offshore / Tax Dispute / Tax Laws / Tax treaties

Netherlands announces new policies for resolving cross-border tax disputes

Published by: MNE Tax - July 7, 2020

The government has implemented new legislations in order to reform treatment of offshore tax disputes. ... - Continue reading

Income Tax / Individuals / Tax Avoidance / Tax Evasion / Tax Fraud

Tax office accused of heavy-handed approach to suspected income tax fraud

Published by: Dutch News - July 7, 2020

The tax office is under fire again for its handling of fraud investigations after it emerged that tens of thousands of taxpayers were subject to excessive checks and penalties on their income tax return. ... - Continue reading

EU / European Commission / Legislation

EU mulls development of non-financial reporting standards

Published by: Accountancy Daily - July 6, 2020

... - Continue reading

Business / Digital Services / Legislation / Nigeria / Non-resident Enterprises / Tax Laws

Nigeria clarifies new tax on nonresident digital businesses

Published by: MNE Tax - July 6, 2020

Now existing in a digital-led world, economies of the world have been seriously contemplating on better methods to tackle digital tax. Nigeria is no exception to the rule. ... - Continue reading

Brazil / Covid-19 / Digital Services / Exemptions / Legislation / Tax Break / Tax Laws

Brazil: Brazilian Tax Review – July 2020

Published by: Mondaq - July 6, 2020

... - Continue reading

Cyprus / Income Tax / Tax Authority / Tax Laws

Cyprus: Announcement – Cyprus Investment Programme

Published by: Mondaq - July 6, 2020

New declaration for companies operating in Cyprus. ... - Continue reading

Automatic Exchange of Information / OECD / Offshore Accounts / Revenue / Tax Authority / Tax Collection

Tax authorities accessed 84 million offshore accounts in 2019: OECD

Published by: Business Standard - July 2, 2020

OECD confirms the efficiency of the Automatic Exchange of Information after its implementation in 100 countries. ... - Continue reading

Business / Corporate Tax / Digital Services / OECD / Tax Reform

Digital Tax Deadlock: Where Do We Go from Here?

Published by: Tax Foundation - July 1, 2020

... - Continue reading

Corporate Tax / Digital Services / OECD / Tax Laws / Tax Planning / USA

OECD says U.S. still committed to global digital tax talks

Published by: WHTC - July 1, 2020

OECD informs that the United States are still open to a discussion on digital tax despite asking for a pause due to more pressing matters. ... - Continue reading

Double Tax Treaty / IMF / OECD / Tax treaties / UN

Draft toolkit on the art of tax treaty negotiation offers tips for developing countries

Published by: MNE Tax - July 1, 2020

... - Continue reading

Covid-19 / EU / Germany / OECD / Tax Evasion / Tax Transparency

Germany announces tax policy goals for Council of the EU Presidency

Published by: MNE Tax - July 1, 2020

The German Presidency has put into place new legislations which will help revive the European economy. ... - Continue reading

Tax Collection / Tax Evasion / Tax Laws / Tax Reform / Vietnam

Vietnam’s Tax Administration Law Takes Effect in July 2020

Published by: Vietnam Briefing - June 30, 2020

As from the 1st July 2020, Vietnam's tax reform measures will be implemented. ... - Continue reading

Covid-19 / Cyprus / Income Tax / Tax Laws / Tax Relief

Cyprus: Income Tax Law Amendment Provides Tax Incentives For Reduced Rent

Published by: Mondaq - June 30, 2020

... - Continue reading

Corporate Tax / Legislation / Poland

Poland poised to launch new corporate income tax regime

Published by: MNE Tax - June 29, 2020

Government to introduce the so-called Estonian solution. ... - Continue reading

Immovable Property / Malta / Property Tax / Residence

Malta: Reduced Tax And Duty On Transfers Of Immovable Property

Published by: Mondaq - June 29, 2020

Temporary changes in property tax have been announced by the Government. ... - Continue reading

Africa / Anti money laundering / Base Erosion & Profit Shifting / Corruption / Offshore / Tax Authority / Tax Evasion / Tax Laws / Tax Reform / Tax Transparency

African Countries Making Headway In Tackling Tax Evasion

Published by: EABW News - June 27, 2020

According to Tax Transparency in Africa 2020 report, Africa needs to better combat illicit financial flows and be more lucid in tax matters. ... - Continue reading

Business / Digital Services / OECD / Tax Laws

The case for a digital non-aligned movement

Published by: Open Democracy - June 27, 2020

... - Continue reading

Capital gains / Capital Gains Tax / Double Taxation / Financial markets / Investments / Legislation / South Korea / USA

‘Capital gains tax on stocks could trigger fund outflow’

Published by: The Korea Times - June 25, 2020

... - Continue reading

Business / Canada / Canada Revenue Agency / Employment / Income Tax / Permanent establishment / Tax treaties / USA

Canada: Canada-US Tax Treaty – A Canadian Tax Lawyer Analysis

Published by: Mondaq - June 25, 2020

More on the Canada-US tax treaty. ... - Continue reading

Australia / Residency / Tax treaties

Australia: Managing Australian & foreign tax residency status – what you need to know

Published by: Mondaq - June 24, 2020

Information on tax residency in Australia. ... - Continue reading

Double Tax Treaty / Mauritius / Zambia

Govt Terminates Tax Treaty With Mauritius

Published by: Zambia Reports - June 23, 2020

Double Tax Treaty with Mauritius terminated. ... - Continue reading

Court cases / Double Tax Treaty / Italy / Tax treaties / Trust / Trustee

Italy: Italian Supreme Court Confirms Foreign Trusts Should Receive Tax Treaty Benefits

Published by: Mondaq - June 22, 2020

Foreign trusts entitled to tax relief, says Supreme Court of Italy. ... - Continue reading

Altera / Court cases / Digital Services / Facebook / Google / Intel / Internal Revenue Service (IRS) / Tax Haven / USA

Tech companies rejected by top court on tax breaks

Posted On: June 22, 2020

The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees. The justices without comment Monday turned away an appeal by Intel Corp.’s Altera unit, which challenged… – Continue reading

Australia / Budget / Capital Gains Tax / Exemptions / Expatriates / Residence

Australia’s resident expats on cusp of losing CGT exemption

Published by: International Investment - June 22, 2020

The new Budget - Not too welcoming to Australian expats. ... - Continue reading

EU / Europe / Legislation / Tax Reform / Tax Transparency

EU Parliament creates permanent tax subcommittee

Published by: MNE Tax - June 22, 2020

Tax justice taken a notch higher by the European Union. ... - Continue reading

Amazon / Apple / Digital Services / Facebook / France / Revenue / Tax competition / Tax Laws / USA

Why ‘Digital Taxes’ Are the New Trade War Flashpoint

Published by: The Washington Post - June 19, 2020

A further discussion on the possible treatment of digital taxes in today's world where it has its hugest economic presence. ... - Continue reading

Cyprus / Double Tax Treaty / Kazakhstan

Cyprus: Double Tax Treaty Between Cyprus And Kazakhstan Ratified; Will Enter Into Force 2021

Published by: Mondaq - June 18, 2020

Cyprus and Kazakhstan sign double taxation agreement with one another. ... - Continue reading

Anti-Tax Avoidance Package / Base Erosion & Profit Shifting / Business / Controlled Foreign Companies / Cyprus / Gaar / Hybrids / Jurisdiction / Legislation / Offshore / Tax Avoidance / Tax Laws / Tax Planning / Tax Reform

Higher tax bill for Cyprus businesses after new law

Published by: Cyprus Mail - June 17, 2020

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 / Double Tax Treaty / Tax Evasion / UAE

Angola, UAE ratify tax agreement to remove trade barriers

Posted On: June 17, 2020

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

Covid-19 / Property Tax / Real Estate / South Korea / Tax Laws

Gov’t tightens property rules to stem speculation

Published by: The Korea Times - June 17, 2020

More on property tax laws in South Korea. ... - Continue reading

Australia / Foreign Direct Investment (FDI) / Legislation / Tax Laws / Tax Reform

Australia tightens rules on foreign investment

Published by: International Tax Review - June 17, 2020

Australia becomes more stringent regarding foreign investments. ... - Continue reading

Business / Covid-19 / Legislation / Royalties / Tax Laws / Transfer pricing

Challenges for Transfer Pricing in an Economic Downturn

Published by: Tax Foundation - June 17, 2020

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 / Offshore Voluntary Disclosure Program

Nigeria: Nigerian Government Issues Amendments To Order On Voluntary Offshore Assets Regularisation Scheme (VOARS)

Published by: Mondaq - June 17, 2020

Nigeria issues an amendment order for the Voluntary Offshore Assets Regularisation Scheme (VOARS). ... - Continue reading

Anti money laundering / Covid-19 / Legislation / Tax Reform

Another COVID-19 Enforcement Tool: Money Laundering Law

Published by: Lexology - June 16, 2020

This article discusses about the role of anti money laundering during the 2020 pandemic. ... - Continue reading

Covid-19 / Digital Services / Indonesia / Netflix / Revenue / Tax Collection / USA / VAT

Indonesia defends digital tax policy despite US scrutiny

Published by: The Jakarta Post - June 16, 2020

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

Covid-19 / Multinationals / Offshore / Tax Relief / USA

Voices CARES Act offers overlooked opportunities for tax refunds, but first check cross-border prices

Posted On: June 16, 2020

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

Business / Digital Services / Philippines / Tax Authority

Move to tax online sellers ‘unnecessary, insensitive’

Published by: ManilaStandard.net - June 14, 2020

Senator Sherwin Gatchalian expressed his disagreement concerning the treatment of online taxes. ... - Continue reading

Covid-19 / Germany / Legislation / Tax Laws / Tax Reform / Tax Transparency

German cabinet passes stimulus tax measures

Published by: MNE Tax - June 12, 2020

After the 2020 crisis, Germany has taken a few steps to fuel its economy. ... - Continue reading

Country-by-Country (CbyC) Reporting / Curacao / Multinationals / Tax Avoidance / Tax treaties / USA

US, Curacao agree to exchange country-by-country tax reports on large multinational groups

Published by: MNE Tax - June 12, 2020

The United States and Curacao have joined hands to better counteract tax avoidance on the behalf of multinationals. ... - Continue reading

Goods and Services Tax / Pakistan / Tax Evasion

Tax evasion of Rs 8 cr found in paan masala smuggling case

Published by: Outlook - June 11, 2020

Tax evasion of Rs 8 crore unveiled. ... - Continue reading

Court cases / Indonesia / Mauritius / Special Purpose Vehicles / Tax Authority / Tax Relief / Tax treaties

Spotlight on Mauritius tax treaty in Tiger Global ruling

Published by: Outlook - June 10, 2020

Tiger Global in a difficult court case as it finds itself deprived of tax relief by the Authority of Advance Ruling (AAR). ... - Continue reading

Business / Corporate Tax / Covid-19 / Germany / Legislation / Tax Reform / VAT

Germany proposes substantial VAT rate reduction, tax loss carryback expansion

Published by: MNE Tax - June 10, 2020

Proposals of expansion of tax loss carrybacks in 2020 from EUR 1 million to EUR 5 million. ... - Continue reading

Belgium / Covid-19 / Tax Reform

Belgium to introduce tax loss carryback, recovery reserve in response to pandemic

Published by: MNE Tax - June 9, 2020

Belgium comes up with more measures to counteract COVID-19 pandemic. ... - Continue reading

Croatia / Double Taxation / Non-Domiciled / PWC / Tax Laws

PwC tax guru informs Croats abroad about Croatian tax system and double taxation

Published by: Croatia Week - June 4, 2020

What non-residing Croats need to know on the Croatian tax laws and double taxation. ... - Continue reading

Automatic Exchange of Information / Common Reporting Standard / Nigeria / Tax Authority

Nigeria: FIRS Extends Deadline For Filing Information Returns Under The AEOI-CRS

Published by: Mondaq - June 4, 2020

The Tax Authority o Nigeria has extended the deadline for CRS and AEOI 2019 reporting. ... - Continue reading

Covid-19 / Multinational Enterprises ("MNEs") / Tax Reform / Tax Relief / Transfer pricing

India: Transfer Pricing And COVID-19 — Repercussions, Re-Evaluation And Way Forward

Published by: Mondaq - June 3, 2020

Here is a discussion on multinational enterprises (MNEs) and their possible treatment of the aftermath of the COVID-19 pandemic. ... - Continue reading

Common Reporting Standard / Guernsey / Income Tax / Tax Laws