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 the final days of 2017, the Chinese authorities set out a series of new incentives and improved tax treatments with a view to fostering both greater inbound and outbound investment in 2018. The Chinese Finance Minister, Mr Xiao Jie, also set out his plan of broader reforms for the medium term. -
Sponsored by Dhruva AdvisorsThe introduction of the goods and services tax last year has led to a consolidation of the indirect tax regime in India. The government is now moving to overhaul the direct tax regime.
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Sponsored by Russell McVeaghIn a recent decision, the New Zealand High Court considered a challenge to the validity of requests for information made by New Zealand Inland Revenue at the request of the Korean National Tax Service (Korea).
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