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International updates - June 2014


The latest international updates from our correspondents around the world.

Albania: Changes to tax legislation impacting hydrocarbon operations

Australia: Draft guidance on new Australian transfer pricing rules

Bosnia and Herzegovina: Bosnia and Herzegovina ratifies double tax treaty with Macedonia

Bulgaria: New appendix to the corporate annual tax return

Canada: Canadian treaty shopping proposals compared to OECD recommendations

China: VAT reform of telecommunications sector

Cyprus: Cyprus to sign FATCA agreement with US Treasury

EU: Update on PPLs/hybrid loans in the European Union

Germany: ECJ on exit taxation – Roma locuta, causa finita?

Hong Kong: No refund of tax paid due to fraudulent conduct of directors

India: Ruling on Service PE trigger on deputation and income effectively connected to PE

Italy: Parliament sets forth guidelines for broad tax reform

Luxembourg: Luxembourg signs FATCA agreement with the US

FYR Macedonia: FYR Macedonia introduces reverse charge mechanism for select categories of services

Malta: Double tax treaty developments

Mexico: Rules to identify when tax paid abroad qualifies for foreign tax credit

Montenegro: Tax treatment of severance payments and vouchers

New Zealand: Tax Bill reported back

Norway: Ministry of Finance issues exceptions to interest deduction limitation rules

Romania: Granting default interest to taxpayers for delayed refund of the excess input VAT

Serbia: Interest on loans between related parties

South Africa: Pay now, argue later

South Korea: Supreme Court of Korea rules on country-of-origin determination issue under domestic law

Spain: A holding company’s paradise: New corporate income tax legislation in the Basque Country

Switzerland: Swiss cantons announce lower headline tax rates in anticipation of Swiss Corporate Tax Reform III

US Outbound: President Obama releases FY2015 Budget

more across site & bottom lb ros

More from across our site

The airline’s CEO describes the impending tax as bad for the economy, India’s GST revenues drop to a two-year low, the CJEU rules on VAT repayment, and more.
But tax professionals will need to invest a lot of energy and money when controversy arises, according to a head of tax and trade compliance speaking at an ITR conference in London.
The carbon border tax regime will come into play in 2026 but its reporting requirements are now in force.
Disputes around pillar two filings are set to be significant and longwinded, according to a tax director speaking at an ITR conference in London.
PwC publishes detailed accounts of its behaviour in the tax scandal in Australia, while another tax trial looms for pop star Shakira.
The winners of the ITR Europe, Middle East, and Africa Tax Awards 2023 have been announced!
The winners of the ITR Asia-Pacific Tax Awards 2023 have been announced!
Mauro Faggion appeared cautiously optimistic as the European Commission waits to see whether all 27 member states will accept its proposal.
The global minimum rate also won’t entirely stop a race to the bottom, according to a tax director speaking at an ITR conference in London.
The country’s tax authorities are not interested in seeing transfer pricing studies any more, it was claimed at an ITR industry conference in London.