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Malta: Alternative trading platforms – taxation of capital gains update

Towards the end of 2017, Malta's capital gains rules (subsidiary legislation 123.27 to the Income Tax Act, Cap 123 of the laws of Malta) were amended and now include a specific rule relating to the taxation of capital gains derived by an original shareholder from the transfer of shares that have been admitted for trading on an alternative trading platform.

January 30 2018

Cyprus: Important tax updates in Cyprus at the end of 2017

The Cyprus Parliament passed important amendments directly impacting taxpayers during the last quarter of 2017. This briefing focuses on the modifications concerning income tax, overdue taxes and tax exemptions on loan restructuring. These amendments have an impact on computations of tax obligations and include revised deadlines with which companies will have to comply when fulfilling their tax responsibilities.

January 30 2018

Bosnia and Herzegovina: Indirect Taxation Authority of Bosnia and Herzegovina introduces electronic services

On November 16 2017, the governing board of the Indirect Taxation Authority (ITA) issued the Instruction on the Registration of Users of the ITA Electronic Services (the Instruction). The Instruction entered into force on December 9 2017.

January 30 2018

Canada: Revised CRA circular softens new restrictions on voluntary disclosure submissions

The Canada Revenue Agency (CRA) has made important changes to its voluntary disclosures scheme that addresses a number of taxpayer concerns ahead of the March implementation date.

January 30 2018

2018: The busiest tax year yet

The work of corporate tax departments over the next 12 months will be dominated by large international changes such as the BEPS project, US tax reform and shifting attitudes toward taxation of the digital economy. Joe Stanley-Smith explores what companies can do to stay ahead of the curve.

Joe Stanley-Smith, January 30 2018

Australia: Corporate collective investment vehicles tax regime

The Australian government released exposure draft legislation on the tax treatment of corporate collective investment vehicles (CCIVs) on Wednesday, December 20 2017. The draft legislation is open to public consultation until February 2 2018 and will apply to income years commencing on or after July 1 2018.

January 30 2018

Malta: Key international tax updates

A recent report by the OECD confirms Malta is a tax compliant jurisdiction. Nicky Gouder and Luana Scicluna of ARQ Group explore the business-friendly tax benefits Malta has to offer, as well as the introduction of notional interest deduction and the changes to the participation exemption regime.

January 30 2018

Turkey: New VAT liability for non-resident electronic service providers

On November 28 2017, Article 9 of the Turkish Value Added Tax (VAT) Law on the parties liable for tax was amended. The new amendment stipulates that VAT arising from services provided electronically by those without a residence, workplace, headquarters, or business centre in Turkey to individuals in Turkey who are not VAT taxpayers must be declared and paid by the non-resident e-service providers.

January 30 2018

Albania: Albanian government reduces VAT rate for tourist accommodation services

In November 2017, before the approval of the budget for the 2018 fiscal year, the government of Albania approved the Decision of the Council of Ministers (DCM) no. 652, dated November 10 2017, which made several changes to DCM no. 953/2014 as regards the implementing provisions of the Value Added Tax Law.

January 30 2018

Georgia: Georgia signs free trade agreement with China

By way of further developing the country's economy, facilitating trade and liberalising its tax regime, Georgia has signed an agreement with China on the creation of free trade zones in Georgia.

January 30 2018

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