ITR Search | International Tax Review

Canada: Amendments to Canadian foreign affiliate rules: liquidation and dissolution of foreign affiliates

On August 19 2011, the Canadian Department of Finance released a package of proposed amendments including significant changes to the tax rules governing the taxation of income earned by foreign affiliates of Canadian taxpayers.

January 01 2012

Romania: The newly expanded concept of fiducia

The Romanian law has not yet adopted the concept of trust as it is used in the common law jurisdictions.

January 01 2012

US Outbound: IRS issues final regulations on treatment of disregarded entities for employment tax purposes

The Internal Revenue Service (IRS) recently released final regulations clarifying that a disregarded entity, which is treated as a corporation for employment tax purposes, will also be treated as a corporation for tax administration purposes related to employment taxes (TD 9553).

January 01 2012

Brazil: New decision reverts CARF’s understanding on taxation of foreign profits

The Brazilian administrative council of tax appeals (CARF), the penultimate administrative instance for the discussion of federal tax assessments, has recently granted a favourable decision for Marcopolo, a large bus and coach manufacturer headquartered in the South of Brazil.

January 01 2012

South Africa: Taxation Laws Amendment Bill

The long awaited Taxation Laws Amendment Bill 2011 (Bill) was released on October 25 2011. This introduces various amendments, which are relevant in respect of cross-border transactions.

January 01 2012

Bulgaria: New amendments in VAT – a step towards greater harmonisation

The proposal for amending and supplementing the VAT Act was submitted to the Bulgarian Parliament because of a necessity to align the national legislation with the EU law, in this case Directive 2006/112/EC and the case law of the ECJ.

December 23 2011

The importance of VAT in the Portuguese economic turmoil

The Portuguese sovereign chaos led to the request for an emergency bailout package from the European Commission and the IMF in coordination with the European Central Bank. Rui Guedes Henriques and Lara Castro of Baker Tilly Portugal look at why VAT policy is crucial in this context.

December 23 2011

Why Australia’s carbon tax will prove ineffective

Exemptions, grants and free permits will negate the green impact of Australia’s carbon tax to ensure big business does not suffer, environmentalists and tax experts warn.

Joe Dalton, December 22 2011

Pressure mounts to cut VAT on e-books

Luxembourg’s decision to slash VAT on electronic books from 15% to 3% could pressure other European jurisdictions to follow suit.

Salman Shaheen, December 22 2011

European Court confirms aviation can come under ETS

Despite mounting international pressure, the Court of Justice of the European Union (CJEU) has today confirmed that aviation can be brought under the emissions trading scheme (ETS) without breaking international law.

Salman Shaheen, December 21 2011

Search results for