ITR Search | International Tax Review

Changes to trusts for foreign residents

Roberto del Toro Anabel Diaz As part of the 2007 Mexican Tax Reform, the rules relating to income obtained by foreign residents from a Mexican trust were modified.

March 01 2007

Taxpayers frustrated by lack of reform of distorting taxes on export duties and financial transactions

Andrés Edelstein Ignacio Rodríguez Tax revenues in Argentina have increased sharply in recent years following the trend shown by the general performance of the country (GDP has grown 9% on average in the last five years). The federal primary surplus that has been observed lately was due to high value-added tax receipts and a strong performance by income taxes, reflecting the recovery in GDP and also certain degree of success in the fight against tax evasion and the informal economy.

March 01 2007

Update

Juan Carlos Chavarría Costa Rica The Costa Rican (CR) Government recently announced that the approval and ratification of the Free Trade Agreement signed by Central America, the Dominican Republic (DR) and the United States (DR-CAFTA), together with all the complementary reforms to the telecommunications, insurances and banking industries that would be required as part of its domestic implementation, should be Congress' main priority for the rest of 2007.

March 01 2007

EC infringement proceedings: taxpayers can make a difference

Bob van der Made Since 2001, the European Commission has followed a proactive tax infringement strategy to eliminate tax obstacles to cross-border activity in the Internal Market. But most taxpayers do not seem to be aware that EC infringement proceedings (Article 226EC) can also be an additional, highly effective, and relatively low-cost tool for safeguarding EU rights.

March 01 2007

Tax incentives package

Nélio Weiss Philippe Jeffrey Initially announced on November 23 2006, an economic tax package (Programa de Aceleração do Crescimento – PAC) was formally reintroduced on January 22 with Federal Decree No. 6,025.

March 01 2007

Shake-up for subpart F

Recent guidance from the IRS on the subpart F rules provides guidance on how the 'substantial assistance' and the look-through rules should operate. It should help the competiteveness of US companies

March 01 2007

Profiting from an uncommon market

A unique tax system makes getting good local advice in China crucial. Claire Jones travels to Beijing and Shanghai to find out the firms to use for tax work

March 01 2007

Danish reform an overreaction say business community

Danish businesses have slammed draft tax reforms as too wide-ranging, saying that they will hurt attempts to boost the economy.

March 01 2007

Rule by decree threatens tax code and puts companies under fire

On January 31 Venezuela's National Congress passed what the government referred to as an "enabling law",which allows President Hugo Chavez to impose laws by decree. These new powers will have an impact on international taxpayers.

March 01 2007

How tax services are changing

Sed Crest discovers where external advisers add the most value in North America and how tax services might look in 2012

March 01 2007

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