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 line with its pledge to boost Hong Kong's competitiveness and comply with its international obligations, the Hong Kong government has recently introduced two tax reforms. -
Sponsored by PwC BrazilThe federal Brazilian tax authorities (RFB) published a declaratory act regarding the withholding tax on payments abroad for a license to distribute or commercialise software.
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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.
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