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 Dhruva AdvisorsThe Apex Court in a recent judgment (Civil Appeal number 2013 of 2014) held that no service tax should apply on expenditures recovered as reimbursements before May 14 2015. -
Sponsored by Garrigues PortugalThe option for VAT taxation of the supply of Portuguese real estate has recently been characterised by uncertainty, and the latest European ruling hopes to clarify matters.
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Sponsored by KPMG ChinaOn February 28 2018, Hong Kong Financial Secretary Paul M P Chan delivered his speech to the Legislative Council which confirmed a record surplus of HK$138 billion ($17.6 billion). Forty percent of the surplus would be spent on relief measures while the remaining would be spent on improving public services and the future.
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