International updates - May 2014

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International updates - May 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

more across site & shared bottom lb ros

More from across our site

The combination between Ashurst and Perkins Coie, which will create a $2.8 bn law firm, is expected to close in Q3
The ‘highly regarded’ Stephanie Pantelidaki, who has big four experience, will be based in the firm’s London office
A co-operative working relationship with the UK tax agency has helped 'unblock entrenched positions' to the benefit of clients, Kara Heggs tells ITR
New hires from rivals are reportedly being axed from the firm, following a steep decline in profits
Following Richard Houston’s switch to the newly formed Deloitte EMEA, Graves has the opportunity to bring Deloitte’s tax practice up to speed with its rivals
Firms announced tax hires and promotions across Europe and the US, while fresh figures from Ireland showed corporation tax receipts edging down in the first quarter
The country has overseen better audit procedures and demonstrated commitment to acting as a 'regional leader' on international tax matters, the OECD said
Barrister Setu Kamal and policy guru Dan Neidle have clashed over the former’s legal action against Google, described as ‘bonkers’ by Neidle
Authors from Khaitan & Co evaluate the recent CBDT notification, whereby legacy investments made by investors continue to be exempt from the applicability of GAAR
Dual-qualified corporate tax specialist Christoph Schimmer joins the firm after stints at Deloitte, Cerha Hempel and DLA Piper
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