Category: Tax Laws

Senegal tears up its double tax treaty with Mauritius

Published by: International Investment - May 27, 2020

Senegal cancels double taxation agreement with Mauritius. ... - Continue reading

British Virgin Islands / Common Reporting Standard / Country-by-Country (CbyC) Reporting / Covid-19 / FATCA

British Virgin Islands: BVI CbCR Reporting System And FATCA / CRS Deadlines Extended

Published by: Mondaq - May 27, 2020

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 / Canada Revenue Agency / Covid-19 / Offshore / Tax Relief

Canada: CRA Provides Temporary Relief From COVID-19 Cross-Border Tax Concerns

Published by: Mondaq - May 26, 2020

A look at the tax relief that Canada is providing during this unforeseen crisis. ... - Continue reading

Canada / Hybrids / Internal Revenue Service (IRS) / Offshore / Tax Laws / USA

Canada: U.S. Releases Anti-hybrid Regulations

Published by: Mondaq - May 25, 2020

The Internal Revenue Service (IRS) and U.S. Treasury Department have released anti-hybrid laws for offshore transactions. ... - Continue reading

Double Tax Treaty / Ireland / Jurisdiction / Tax treaties

Ireland: Aviation Finance And Leasing Guide 2020

Published by: Mondaq - May 23, 2020

Guidance for the purchase of aircrafts in Ireland. ... - Continue reading

Base Erosion & Profit Shifting / Framework / Legislation / Multinationals / OECD

Countries still can’t agree on update to multinational group taxation rules, OECD official says

Published by: MNE Tax - May 21, 2020

The 137 member countries of the “Inclusive Framework on BEPS” are having a disaccord regarding a legislation for multinationals. ... - Continue reading

Court cases / Italy / Transfer pricing / VAT

Italy’s Supreme Court rules on VAT treatment of intercompany management fees

Published by: MNE Tax - May 21, 2020

Highlights on a recent court case in Italy regarding transfer pricing. ... - Continue reading

Court cases / Double Tax Treaty / EU / Italy / Portugal

EU court rules on legality Italy-Portugal tax treaty’s pension taxation scheme

Published by: MNE Tax - May 18, 2020

... - Continue reading

Business / China / Covid-19 / Non-Domiciled

How to Determine Your Foreign Employees’ IIT Liability in China: COVID-19 Travel Ban Series

Published by: China Briefing - May 18, 2020

Guidance for companies in China with non-domiciled employees. ... - Continue reading

Avoidance Convention / Cambodia / Double Taxation / Malaysia / South Korea / Tax Reform

Double-tax draft law with Malaysia and South Korea shows progress

Published by: Khmer Times - May 17, 2020

This article discusses the benefits of Cambodia's double taxation agreements with Malaysia and South Korea. ... - Continue reading

Cyprus / Tax treaties / Tax Treaty Abuse

Cyprus: The End Of Treaty Abuse And A Fresh Start Of Tax Treaty Use – The Multilateral Instrument (MLI)

Published by: Mondaq - May 15, 2020

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 / Common Reporting Standard / Compliant / FATCA

Cayman Islands: New CRS Form Released And FATCA Deadline Extended

Published by: Mondaq - May 15, 2020

A new CRS compliance form has been issued by the Cayman Islands Tax Information Authority. ... - Continue reading

Multinationals / South Korea / Tax Avoidance / Tax treaties

Seoul to implement convention on MNCs’ tax avoidance in Sept.

Published by: Yonhap News Agency - May 14, 2020

Seoul signs multilateral convention to counter tax avoidance. ... - Continue reading

Business / Covid-19 / Government Bodies / Netherlands / Tax Haven / Tax Relief

TAX HAVEN COMPANIES NOT EXCLUDED FROM DUTCH STATE AID

Published by: NL Times - May 14, 2020

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

Base Erosion & Profit Shifting / Czech Republic / South Korea / Tax treaties

BEPS MLI to enter to force for Czech Republic, Korea

Published by: MNE Tax - May 13, 2020

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

Court cases / EU / Italy / Tax Laws

Italy’s financial transaction tax complies with EU law, court rules

Published by: MNE Tax - May 13, 2020

The European Court of Justice judges Italy’s financial transaction tax to be compatible with EU laws. ... - Continue reading

China / Non-Domiciled / Residence

China: Taxation On A Foreign Enterprise Without A Physical Office In China: Are You Obligated To Pay?

Published by: Mondaq - May 13, 2020

Questions on physical presence and tax residence in China answered. ... - Continue reading

Double Tax Avoidance Treaty / Gibraltar / United Kingdom

Gibraltar: Gibraltar Ratifies Double Tax Agreement With The UK

Published by: MNE Tax - May 11, 2020

Gibraltar and the United Kingdom join hands together to fight double taxation. ... - Continue reading

Germany / Legislation / Tax Authority / Transfer pricing

German finance ministry clarifies transfer pricing proposal

Published by: MNE Tax - May 11, 2020

"No price-setting approach", confirms the German Finance Ministry. ... - Continue reading

IMF / Income Tax / Multinational Enterprises ("MNEs") / Pakistan / Tax Authority / Tax Collection / VAT

FBR mulling over options to fetch additional Rs600bn

Published by: The News International - May 10, 2020

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

India / Offshore / Residence / Tax Collection / Tax treaties

India: Permanent Establishment (PE) In India – Broad Understanding

Published by: Mondaq - May 8, 2020

Some insights into tax residence and permanent establishment for businesses in India. ... - Continue reading

Gaming / Offshore / Philippines / Tax Authority / Withholding Tax

POGOs must settle all tax liabilities — Dominguez

Published by: The Manila Times - May 8, 2020

Philippine offshore gaming operators (POGO) to pay all tax liabilities before being allowed to operate again, says Finance secretary Carlos Dominguez. ... - Continue reading

Citizenship / Covid-19 / India / Residence / Residency

Stranded NRIs could be in for tax trouble

Published by: Live Mint - May 6, 2020

Some bad news for NRIs who are stuck in the lockdown. ... - Continue reading

Digital Services / Kenya / Legislation / Non-resident Enterprises / Residence / Tax Collection

Expert urges Kenya to reconsider imposing tax on digital platforms

Published by: News Ghana - May 6, 2020

Bitange Ndemo, a former principal secretary in the ministry of ICT warns against the taxation of non-domiciled digital companies and advises the government to review its decision. ... - Continue reading

Cote d'Ivoire / Double Tax Avoidance Treaty / Legislation / Turkey

Turkey: The treaty on avoiding double taxation of income taxes and tax evasion and its additional protocol between Republic of Turkey and Republic of Cote D’ivoire has been approved by the President of Turkey

Published by: Mondaq - May 5, 2020

Double tax treaty between Turkey and Ivory Coast has been approved by the presidential decree numbered 2470. ... - Continue reading

Corporate Tax / Cyprus / EU / Jurisdiction / Offshore Financial Centres / Tax Laws / Tax treaties

Cyprus: Cyprus Company Tax Benefits And Other Relevant Incentives

Published by: Mondaq - May 5, 2020

Here are some of the tax benefits of a having a company in Cyprus. ... - Continue reading

Covid-19 / HM Revenue & Customs / Ireland / Legislation / OECD / Permanent establishment / Residence / Residency / Tax Laws / Tax Relief / United Kingdom

Ireland: The Impact Of COVID-19 On Tax Residence And Permanent Establishments

Published by: Mondaq - May 4, 2020

On 23 March 2020, the Irish Revenue released its programme meant to relieve tensions around tax residence and permanent establishments. The reason? - you guessed it right - COVID-19. Here's more. ... - Continue reading

Business / Double Tax Treaty / Ireland / Tax Relief / Transfer pricing

Ireland transfer guidance addresses claims for unilateral tax relief

Published by: MNE Tax - May 4, 2020

Lights upon Ireland's unilateral tax relief in relation to the double taxation agreement. ... - Continue reading

Base Erosion & Profit Shifting / Digital Services / Legislation / Multinationals / OECD / Tax Laws / Transfer pricing

OECD officials note disagreement over digital tax update, reveal plans for tax and transfer pricing guidance

Published by: MNE Tax - May 4, 2020

Disagreement registered around the 'Pillar One' of the OECD. ... - Continue reading

Capital Gains Tax / Government Bodies / Pakistan / Tax Reform

PSX urges govt to eliminate or reduce CGT for two years

Published by: Pakistan Today - May 4, 2020

The Pakistan Stock Exchange (PSX) has a few proposals to the government in an effort towards reform. ... - Continue reading

Business / Corporate Tax / Multinational Enterprises ("MNEs") / Profit Shifting / Tax Avoidance / Tax Evasion / Vietnam

Vietnam faces increasing tax evasion and avoidance

Published by: Vietnam News - May 4, 2020

In the recent years, Vietnam has experienced one of the highest loss of revenue due to tax evasion and tax avoidance from multinationals. ... - Continue reading

EU / European Commission / Intellectual Property / Intragroup Services / Netherlands / Tax Avoidance / Tax Laws / Transfer pricing

EU Commission to investigate whether Netherlands granted IKEA subsidiary State aid by approving tax deductions

Published by: MNE Tax - May 1, 2020

The European Commission to investigate into Inter IKEA systems' tax treatment for a possible breach of EU State Aid rules. ... - Continue reading

Canada / Citizenship / Israel / Residence / Residency

Canada: Canada-Israel Income Tax Convention & The Making Of Aliyah From Canada To Israel – Canadian Tax Lawyer Analysis

Published by: Mondaq - April 30, 2020

Clarifications regarding Aliyah for Canadian residents. ... - Continue reading

Legislation / Poland / Tax Authority / Transfer pricing

New Poland transfer pricing risk assessment tool released in interactive format

Published by: MNE Tax - April 29, 2020

Poland launches a new transfer pricing risk assessment tool and it's an interactive version. ... - Continue reading

Colombia / OECD / Tax Reform / Tax treaties

Colombia Becomes 37th Member Of OECD

Published by: Urdu Point - April 29, 2020

Colombia is now officially a member of the OECD. ... - Continue reading

Finland / Multinationals / Tax Authority / Tax evasion investigations / Transfer pricing

Finland transfer pricing rules analyzed in landmark court rulings

Published by: MNE Tax - April 29, 2020

This article focuses on two tax cases revolving around transfer pricing and their respective treatments. ... - Continue reading

Automatic Exchange of Information / Common Reporting Standard / Covid-19 / FATCA / Financial Institutions / Malta

Malta: Extension Of FATCA & CRS Deadlines

Published by: Mondaq - April 28, 2020

Deadline for CRS and FATCA reporting for the year 2019 extended till 30 June 2020. ... - Continue reading

Double Taxation / Employment / Expatriates / Income Tax Act / Residence / South Africa

Explainer: South Africa’s ‘expat tax’ – your questions answered

Published by: International Investment - April 26, 2020

Clarifications on tax-related issues for South Africans living and working abroad. ... - Continue reading

Covid-19 / Income Tax / Pakistan / Revenue / Tax Collection

Tax collection from services sector sharply falls 20pc in March

Published by: The News International - April 26, 2020

Official data shows that Pakistan has faced a sharp decline in its tax revenue in the month of March due to the coronavirus. ... - Continue reading

Covid-19 / Expatriates / Non-Domiciled / Residence / United Kingdom / USA

Stranded expats grapple with tax implications of covid-19 lockdown

Published by: International Investment - April 26, 2020

The ordeal of expats in the midst of this COVID-19 crisis. ... - Continue reading

Base Erosion & Profit Shifting / Cyprus / Legislation / OECD / Tax Reform / Tax treaties

Cyprus: Ratification Of Multilateral Instrument

Published by: Mondaq - April 24, 2020

The BEPS MLI has been ratified in Cyprus as from 2020. Here's more to it. ... - Continue reading

Compliant / Digital Services / India / Residence

India’s new 2 percent equalisation levy on the digital economy enters into force

Published by: MNE Tax - April 22, 2020

Digital world - Make space for an equalisation levy! ... - Continue reading

Business / Covid-19 / Digital Services / Double Taxation / OECD / Tax Laws / Tax Reform

Tax Policy After Coronavirus: Clearing a Path to Economic Recovery

Published by: Tax Foundation - April 22, 2020

COVID-19 has forced the whole economic world to halt and alter its processes in order to be able to keep functioning as much as is possible. Here are some further proposed adjustments in the wake of the COVID-19. ... - Continue reading

Covid-19 / Legislation / Multinational Enterprises ("MNEs") / OECD / Tax Laws / Tax Reform / Transfer pricing

COVID-19 and the future of Pillar one

Published by: MNE Tax - April 22, 2020

2020 started with a focus on reformed tax laws concerning transfer pricing and the implementation of Pillar one from the OECD. This article delves further into the matter to bring more clarifications. ... - Continue reading

Australia / Expatriates / Residence

Calls grow for delay to Australian ‘expat residence tax’

Published by: International Investment - April 18, 2020

The Australian government is being urged to extend its deadline for its newly introduced 'expat residence tax'. ... - Continue reading

Covid-19 / Digital Services / G20 / Tax Reform

G20 finance ministers agree to continue work on taxation of digital economy

Posted On: April 17, 2020

Over a virtual meeting due to the lockdown, G20 finance ministers have decided to keep on with their digital tax reform plan despite the COVID-19 pandemic.

Canada / Income Tax / Residence / Residency / Tax Credit