The Norwegian government last week submitted its revised budget to parliament, with changes relating to exit taxes, all arising from the ECJ’s decision in National Grid Indus.
India’s finance minister has defended his government’s decision to amend the tax law with retroactive effect, but practitioners are not convinced by his arguments.
With the advent of Australia’s carbon pricing mechanism just around the corner, Australian Climate Change Minister Greg Combet has spoken out in defence of the policy and sought to allay industry fears over the impact of the tax.
Treasurer Wayne Swan has told Australian businesses that the abandoned corporate tax rate reduction from 30% to 29% was down to the opposition coalition and the Greens, and has restated the Labor party’s commitment to reduce the rate.
The Indian government has long held the view that the India-Mauritius tax treaty is used by foreign investors to avoid capital gains tax payments in India, and the authorities are looking to alter its clauses, though not for the first time.
Hong Kong and Malaysia have entered into a new double taxation agreement (DTA), pending ratification, with provisions to clarify that a tax liability on business profits only arises if the company has a permanent establishment (PE) in the other jurisdiction, as well as reducing withholding tax rates and increasing investment opportunities.
