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International updates - March 2018

08 March 2018

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The latest international updates from our correspondents around the world.

Albania: Albania approves changes to accounting standards; introduces IFRS 15

Argentina: Argentine Congress passes comprehensive tax reform

Australia: Treaty benefits, DPT, MAAL and BEPS MLI

Brazil: Conversion into law of amendments to the oil and gas tax framework

Bulgaria: Changes in the Bulgarian Value Added Tax Act effective as of 2018

Canada: Application and interpretation of the principal purpose test

China: Tax treaty relief clarifications issued

Croatia: Double tax treaty between Croatia and Kosovo enters into force

Cyprus: Cyprus amends VAT; imposes 19% on sale of building land and leasing

Georgia: Georgia updates tax legislation

Germany: Lower tax court rules on direct shareholding requirement under EU PSD

Greece: Clarifications pending on the use of foreign terminal losses

Hong Kong: Hong Kong’s latest tax updates

India: Indian budget 2018-19; Recent rulings on the India-Mauritius treaty

Indonesia: Income tax facility in the industrial sector and draft of regulations on e-commerce tax

Ireland: Closing of the consultation on Ireland’s corporation tax code

Italy: Italian tax police, transfer pricing and business restructuring: still hot topics meriting inspection

Mexico: Lack of business purpose as factor in determining sham transactions

Poland: The CIT-8 return involving new transfer pricing obligations

Portugal: Personal income tax on cryptocurrencies: is the recent ruling a final take?

Serbia: Serbia narrows down list of services subject to withholding tax

South Africa: CBC reporting in South Africa - new guidelines and practical challenges

South Korea: New rights for taxpayers subjected to a dawn raid

Spain: How should irrevocable trusts be treated for Spanish tax purposes? Quick review of the Spanish tax agency approach

Switzerland: Beware of equity incentive reporting obligations in Switzerland

Turkey: Restrictions on foreign currency loans

US Outbound: BEAT to hit inbound taxpayers hard

US Outbound: New LB&I directives both change and clarify IRS transfer pricing procedures






International Tax Review Profile

Without much fanfare, a tax reform in Chile in December 2017 broadened the rules on the parties considered related… https://t.co/fJXpvx61b8

Jun 15 2018 06:59 ·  reply ·  retweet ·  favourite
International Tax Review Profile

A US Supreme Court decision in #Wayfair, affecting the applicability of sales tax to e-commerce, could come as soon… https://t.co/Z6ZwcTwjIU

Jun 13 2018 09:57 ·  reply ·  retweet ·  favourite
International Tax Review Profile

ITR understands there is a strong chance the decision in seismic US #Wayfair case will be released tomorrow. For th… https://t.co/MnOsyh3St5

Jun 13 2018 03:41 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @LieberTax: Tax nerd humor at @BloombergTax #wayfair #nexus https://t.co/43K3aFuCLy

Jun 13 2018 03:39 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @Ernie_R_Perez: Increasing #greentax revenues can be partly attributed to new initiatives in Chile, Colombia, US & Canada. @IntlTaxRevie…

Jun 13 2018 12:03 ·  reply ·  retweet ·  favourite
International Correspondents