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Tiburcio moves back to Hogan Lovells Mexico as partner

Hogan Lovells has announced that Arturo Tiburcio has moved back to the firm’s corporate practice in Mexico City as a partner specialising in tax.

Joe Stanley-Smith, April 01 2015

India’s I-T Department extends roll-back application deadline for TP agreements

India’s Income-Tax (I-T) Department announced the deadline for filing roll-back applications for transfer pricing agreements will be extended. This is welcome news for tax professionals who criticised the government’s aggressive timeline for advance pricing agreements (APAs).

Sophie Harding, April 01 2015

GST starts today in Malaysia: noticeable gaps remain

Malaysia today starts levying goods and services tax (GST) at 6%, replacing sales and services tax. Advisers report grey areas, especially in the healthcare and financial sectors, though say that Malaysia's Revenue and Customs Department (RMCD) has been acting to provide clarity by filling in the gaps.

March 31 2015

EU’s cross-border VAT pilot scheme extended again

The EU is extending its cross-border rulings project pilot until September 30 2018.

Joe Stanley-Smith, March 31 2015

Brazil: What to expect from potential changes in the methodology for PIS and COFINS

The Brazilian government has long planned to consolidate the PIS and COFINS social contribution levies into one single tax initially named the ‘social contribution on revenue’ (CSR). Both taxes are levied upon gross revenues and are nowadays calculated under two distinct tax systems: (i) cumulative, at a flat rate of 3.65%; or (ii) non-cumulative, at a rate of 9.25% but with the possibility to deduct PIS and COFINS tax credits calculated upon certain costs and expenses expressly provided by law.

March 31 2015

Warren Payne takes adviser role at Mayer Brown

A senior member of the Ways and Means staff has left to join Mayer Brown.

March 31 2015

Exclusive: Director talks changes to how Indonesia collects tax

Wahyu Tumakaka, director of business transformation at Indonesia’s Directorate General of Taxation (DGT), shares his department’s plans for conquering tax evasion: ramping up audits, building capacity at the department, and incentivising businesses to encourage investment in Indonesia.

March 31 2015

Australia to follow UK lead on taxing diverted profits

Joe Hockey, Australia’s treasurer, warned taxpayers this week that his Budget on May 12 will target corporate profit shifting, following the UK’s diverted profits tax (DPT or so-called Google tax).

Matthew Gilleard, March 31 2015

Australia eyes taxation overhaul in tax reform discussion paper

On March 30, Australia’s treasurer Joe Hockey announced a tax reform discussion paper titled Re:think, in prelude to a white paper expected late this year. Advisers say that reform of corporate and personal income tax hinges on changes to the rate and base of GST – an option that remains politically unpopular.

March 30 2015

Tax Court denies interest deduction to TDL Group based on indirect use of borrowed funds

Tax Court of Canada decision shows that taxpayers must be wary of Canada’s interest deductibility rules when planning related-party loans.

March 29 2015

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