International updates - April 2018

March 27, 2018

International Updates

The latest international updates from our correspondents around the world.

Australia: CGT, tax consolidation changes and RCF IV appeal

Belarus: Belarus makes a leap forward: legalises cryptocurrency and provides incentives for related income

Bosnia and Herzegovina: Amendments to the Law on Excise Duties in Bosnia and Herzegovina

Canada: Federal Court authorises CRA to obtain taxpayer information directly from PayPal Canada

Chile: Withholding tax of 35% on outbound payments for video games

China: Tax and regulatory reforms outlined as National People's Congress meets

Cyprus: Double tax treaty between Cyprus and Jersey enters into force

Georgia: Income tax treaty between Georgia and Moldova

Greece: ECJ decision on bad debt VAT relief could serve as a guide in many Greek cases

Hong Kong: A summary of Hong Kong's budget 2018 to 2019

India: No service tax applicable on reimbursements - Rule 5 beyond statute rules Supreme Court

Indonesia: New regulation on calculation of gross turnover

Italy: Ministry of Finance launches a public consultation on transfer pricing

Malta: Tonnage tax regime receives formal approval

New Zealand: New Zealand introduces further measures affecting investment in residential property

Poland: More tax exemptions but only for innovators and good employers

Portugal: European court rules on VAT on real estate transactions in Portugal

Russia: VAT on e-services broadens to cover B2B supplies in Russia from 2019

South Africa: 2018 budget: international tax proposals

Spain: Participation exemption regime: are losses obtained on intragroup transactions deductible?

Switzerland: Financial transactions transfer pricing - latest developments

Turkey: Important changes in the Turkish VAT system

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Power line silhouette with stormy sky and rising up arrow. Electricity price increase. Energy crisis in Europe. Growing electricity consumption for home and industry. Power generation shortage.

EU-wide energy levy passes the Council without unanimity

Energy ministers agreed on regulations including a windfall tax on fossil fuel companies to address high gas prices at an extraordinary Council meeting on September 30.

Danish Mehboob, September 30, 2022

Public CbCR would act as a tool to increase corporate transparency on MNEs

This week in tax: EU concerns over pillar two vote

The European Parliament raises concerns over unanimity in voting on pillar two, while protests break out over tax reform in Colombia.

Siqalane Taho, September 30, 2022

Ramesh Khaitan - pic.jpg

Q&A: Lupin India tax SVP talks TP and tax morality

Ramesh Khaitan speaks to reporter Siqalane Taho about tax morality, transfer pricing regulations, Indian tax developments, and the OECD’s two-pillar solution.

Siqalane Taho, September 29, 2022

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Webinar: Navigating the risks and opportunities of remote working

Join ITR and KPMG China at 10am BST on October 19 as they discuss the personal, employment, and corporate tax-related implications of employees working from overseas.

Murray Sarelius, September 29, 2022

Global TP Forum Europe: Tax leaders demand ‘simplified’ pillar one

Tricentis and Boehringer Ingelheim, along with a European Commission TP specialist, criticised the complexity of pillar one rules and their scope at an ITR event.

Leanna Reeves, September 29, 2022

Managing Tax Disputes Summit: Mismatches in global TP audits laid bare

Speakers at ITR’s Managing Tax Disputes Summit said taxpayers can still face lengthy TP audits, despite strong documentation preparation

Leanna Reeves, September 28, 2022

NZ GST bill - 1.jpg

New Zealand seeks to impose GST on gig economy

Gig economy companies in New Zealand will need to fully account and become liable for the goods and services tax of underlying suppliers on their platforms, under new proposals.

Siqalane Taho, September 28, 2022

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Webinar: The Future of Tax Reporting

Join ITR and Thomson Reuters at 2pm (UAE) / 11am (UK) on October 13 as they discuss how businesses can prepare for Tax Administration 3.0 and future-proof against changes such as e-invoicing and increasing digitisation.

Alice Jones, September 27, 2022

Deloitte’s TP controversy guide: Prevention and resolution

ITR has partnered with global TP leaders from Deloitte to discuss transfer pricing controversy around the globe, and to share advice on how to navigate an increasingly uncertain and risky TP landscape.

Alice Jones, September 27, 2022

Contractor concept. Yellow hardhat, libella and plans on the gray tiles.

Pillar one’s safe harbour falls short of industry expectations

Sources say they are not satisfied with pillar one protections in the marketing and distribution safe harbour, even though it was designed to give businesses greater tax certainty.

Danish Mehboob, September 26, 2022