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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

@hselftax And, following on, VAR is actually making some of the games a lot more interesting. 'Value-Adding Replays', one might say...

Jun 21 2018 05:07 ·  reply ·  retweet ·  favourite
International Tax Review Profile

@hselftax The World Cup is #Wayfair-er now that there's VAR #TaxTwitterWorldCup

Jun 21 2018 05:06 ·  reply ·  retweet ·  favourite
International Tax Review Profile

Tax chaos looms as US Supreme Court rules in favour of South Dakota in Wayfair case https://t.co/M4yEQAT2cX #wayfair #taxtwitter

Jun 21 2018 05:02 ·  reply ·  retweet ·  favourite
International Tax Review Profile

A new #Wayfair-style tax is applicable immediately in Louisiana following the Supreme Court's decision. This is the… https://t.co/Wi2yIwalgJ

Jun 21 2018 04:31 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @USSupremeCourt: SOUTH DAKOTA v. WAYFAIR, INC., ET AL.. Decided 06/21/2018 https://t.co/gy8M6dN94Y

Jun 21 2018 04:21 ·  reply ·  retweet ·  favourite
International Correspondents