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 ChinaOn April 29 2014 China's Ministry of Finance and State Administration of Taxation jointly issued Circular Caishui [2014] 43 (Circular 43) which provides for the entry into force of the Value Added Tax (VAT) reforms of the telecommunications sector, effective from June 1 2014. -
Sponsored by KPMG USPresident Obama recently released his annual Budget recommendations for fiscal year 2015.
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Sponsored by PwC BrazilSince June 2008, when a broadened definition of low-tax jurisdictions (tax havens) was introduced by the authorities, taxpayers have been eagerly awaiting the enactment of an updated black list of tax haven jurisdictions for tax and transfer pricing purposes. The latest version of the black list was issued in August 2002.
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