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

HMRC’s push for unified tax adviser registration won’t prevent every instance of improper conduct, but it is good for taxpayers and the UK’s reputation
Elsewhere, the UAE’s tax office has issued an update on registration penalties and two firms have been busy making lateral hires
The case sits within a context of Brazil signalling that it is replacing informal discretion and ambiguity with structures that reward analytical rigour, one expert tells ITR
Jeff Soar lifts the lid on WTS UK’s ambitious recruitment plans, the firm's positioning against the big four, and why tax is the perfect profession for AI
The move reinforces Milan’s role as a key European hub for international business, the firm said
Australia’s government has also announced that it will implement the pillar two side-by-side agreement
Sara Morgan is due to join Joseph Hage Aaronson & Bremen as a partner in London, ITR understands
The newly combined tax team has already worked on thousands of joint client matters, leaders from McDermott Will & Schulte tell ITR
As AI becomes increasingly intuitive and idiot-proof, its tax applicability is becoming impossible to overstate
New data on public CbCR showed uneven adoption, as Singapore advanced pillar two compliance and firms expanded their tax capabilities
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