International Updates
Under the 60-day rule in Cyprus, individuals are considered tax residents of Cyprus and benefit from the island's tax regime.
On December 10 2018, Portugal published Notice 144/2018 in the Official Gazette, announcing the new income tax treaty with Montenegro.
Russian legal entities that make capital gains from the sale of shares are eligible for a 0% tax rate, yet the criteria for satisfying this arrangement may not always be so simple.
Canada's Revenue Agency (CRA) confirmed in a recent technical interpretation (2017-071330117) that Canadian withholding tax can apply to the accrued (but unpaid) interest on a debt owed by a Canadian resident to a non-resident when the debt is assumed by another entity and such an assumption constitutes a "novation" of the debt obligation for purposes of the applicable commercial law.
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Sponsored by KPMG Hong KongThe Financial Secretary Paul Chan announced the 2019/20 Hong Kong budget on February 27 2019, outlining the government's plan for the economy and its proposals for changes to taxation. -
Sponsored by Dhruva AdvisorsThe Mumbai Income Tax Appellate Tribunal (tribunal) has held that a territorial nexus is necessary for determining profits attributable to operations carried out in India. Agency commission accrued, or arising, outside of India is not taxable under domestic laws.
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Sponsored by MathesonIreland's High Court recently considered the powers of the Irish Revenue Commissioners (Revenue) and their ability to obtain information from a third party in its decision regarding Florence Carey v. A Company (2019, IEHC 90).
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