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 ChinaIn recent months, the trade issues between China and the US have continued to escalate. So far, the US has imposed 10% tariffs on $250 billion out of the more than $500 billion of China exports to the US, and China has responded with tariffs on $110 billion out of $130 billion US exports to China. -
Sponsored by PwC BrazilThe Federal Brazilian tax authority (RFB) has confirmed that payments for the right to use trademarks and know-how to a French entity should be subject to income withholding tax and CIDE.
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Sponsored by KPMG ChinaChief Executive Carrie Lam Cheng Yuet-ngor delivered her second policy address on October 10 2018, which sets out the Hong Kong government’s policies over the coming years.
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