International updates - May 2014

April 30 2014

The latest international updates from our correspondents around the world.

Albania: VAT Reimbursement Procedure Directive

Australia: Australian offshore voluntary disclosure initiative 2014

Brazil: Attorney general of the National Treasury issues opinion so as to apply treaty provisions regarding the payment of service fees

Bulgaria: Bulgarian National Revenue Agency’s official position on reinvoicing of expenses

Canada: Canada’s 2014 budget eliminates tax benefits of immigration trusts

China: New foreign exchange policies on supporting the development of China (Shanghai) pilot free trade zone

Cyprus: Timeframes for registration of Cyprus international trusts

EU: Political agreement on new EU rules on PPLs/hybrid loans

Germany: Restrictive application of the German trust model

Hong Kong: TIEA signed with US

India: Indian government proposes revised version of Indian Tax Laws

Italy: New exchange of information rules implemented in Italy

FYR Macedonia: FYR Macedonia ratifies double tax treaty with Bosnia & Herzegovina

Malta: Malta’s recent efforts towards effective exchange of information

Mexico: Limitation on income tax deductions affecting international transactions

Montenegro: Witholding tax on dividends and its methodology

New Zealand: New Zealand’s Inland Revenue finalises interpretation statement on tax residence

Serbia: Determining the income tax for non-profit organisations in Serbia

South Africa: Tax dispute resolution

Spain: Government prepares sweeping tax reform

Switzerland: Revised guidance on the taxation of Swiss principal companies

Ukraine: Ukraine enacts a package of anti-crisis tax changes

Topics

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More from across our site

Pillar two is revising global tax competition with a 15% minimum tax rate

A taxing week: Pillar two will prosper despite US side-by-side arrangement

The political optics of the US’s carve-out deal are poor, but as the Fair Tax Foundation’s Paul Monaghan writes, it preserves pillar two’s guiding ethos

Paul Monaghan, February 27 2026

Direct Tax

This week in tax: PwC commences legal battle with boutique consultancy founded by ex-COO

The big four firm reportedly sent ‘threatening’ correspondence to Unity Advisory over its hiring of ex-PwC partners; plus tax recruitment news from the week

Sam Sholli, February 27 2026

Direct Tax

Washington DC Capitol view on cloudy sky background

Ex-US Supreme Court advocate convicted on 12 counts in tax trial

Tom Goldstein, who was represented by US law firm Munger, Tolles & Olson, denied wilfully cheating on his taxes and blamed errors on his staff

Sam Sholli, February 26 2026

Transfer Pricing

Suited figure pointing to audit among various hexagonal icons

TP documentation in a fragmented world: how to limit audit triggers

Multinationals face rising TP scrutiny as global rules diverge. As Daniel Moalusi argues, strong, consistent documentation is now essential to minimise audit risk and protect tax positions

Daniel Moalusi, February 26 2026

Direct Tax

Elizabeth-Beastrom resized.jpg

‘Tax at breaking point’: Thomson Reuters’ AI tech hits one million users

The profession is fundamentally restructuring itself around what tax and accounting work should be, a Thomson Reuters leader told ITR

Sam Sholli, February 24 2026

Direct Tax

Deloitte unveils €20bn EMEA combination

The big four firm is consolidating 16 entities across the region to create a single 6,000-partner behemoth

Tom Baker, February 24 2026

Indirect Tax

The IBS and why it changes everything in Brazil’s consumption tax system

Brazil’s tax reform unifies consumption taxes to simplify rules, centralise administration and reduce legal uncertainty

Wesley Fragas, February 24 2026

Direct Tax

A&M Tax launches dedicated pillar two, TP team in Saudi Arabia

The ever-expansive firm has once again attracted a former ‘big four’ talent to lead the new offering

Tom Baker, February 23 2026

Direct Tax

France India

India and France sign updated tax treaty in ‘significant development’

The amended double taxation avoidance agreement removes France’s most favoured nation status for tax treaty benefits

Sam Sholli, February 23 2026

Indirect Tax

US tariffs

‘Refunds likely to be a mess’: US Supreme Court strikes down Trump’s tariffs

The levies extended beyond the president’s ‘legitimate reach’, the Supreme Court ruled

Sam Sholli, February 20 2026