International updates - March 2015
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International updates - March 2015

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The latest international updates from our correspondents around the world.

Australia: Recent court case roundup; Structural reform delayed

Brazil: Increase of PIS and COFINS rates on the importation of goods

Canada: Heads I win, tails you lose: Canada Revenue Agency refuses to refund overpaid tax after statutory limitation periods expire

Chile: Tax credit regarding Chilean sourced income subject to withholding tax in a foreign jurisdiction

China: New regulations to encourage corporate restructuring and investment with non-monetary assets

EU: Update on patent boxes and the EU Code of Conduct Group (Business Taxation)

Germany: Deduction of foreign partner’s interest expense

India: Creation of service PE by activities of employees deputed to India

Ireland: ICAV – Ireland’s new corporate funds vehicle

Italy: New decree extends Patent Box regime to commercial trademarks and introduces tax measures for “indirect lending”

Luxembourg: Luxembourg tax authorities clarify the tax treatment of limited partnerships

Malta: Changes to VAT rules – Telecommunications, broadcasting and electronic services

Mexico: Mexican taxpayers’ advocacy institution issues recommendation on Mexican tax authorities’ requests for notarisation of private documents

Poland: Changes to the Polish corporate income tax law

South Africa: Base erosion and profit shifting – Debt:equity

South Korea: Korean courts narrowly interpret mitigating circumstances for non-compliance with FTA requirements

Spain: Invest not just into, but also from, the Canary Islands

Sweden: US investment funds exempt from Swedish dividend withholding tax under EU law – Swedish Tax Agency decides to not appeal ruling

Switzerland: How Swiss companies should apply the income tests for FATCA classification purposes

US Inbound: Obama releases FY 2016 Budget

more across site & bottom lb ros

More from across our site

The Senate report into PwC’s scandal is titled ‘The cover up worsens the crime’
Law firms that are conscious of their role in society are more likely to win work, according to a survey of over 23,000 in-house professionals
The firm’s tax business generated a quarter of HLB’s overall revenues in 2023
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort
Binance has also been accused of manipulating foreign exchange rates via currency speculation and rate-fixing
Six individuals should have raised questions over information they received but did not breach professional standards, according to the firm
The partnership of KPMG UK has installed Holt for a second term as CEO and senior partner; in other news, a Baker McKenzie partner has sued the IRS
HSBC has settled a claim originally worth £240m relating to a failed film tax relief scheme without admitting liability or wrongdoing
Their prediction comes after the IRS announced it would send compliance letters to large foreign companies emphasising their US tax obligations
The ex-client is also suing the entire EY Australia partnership
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