ITR Search | International Tax Review

Looking for the silver lining

With a spate of big elections on the horizon, we are seeing a rollercoaster ride of political rhetoric, false promises, shocks and surprises. Multinationals establishing their long-term tax plans during these uncertain times face the prospect of multiple strategies.

Anjana Haines, April 26 2017

Canada: Canadian 2017 budget provides update on BEPS

Soraya M Jamal Bill S Maclagan Canada's 2017 budget gives a clear indication of the Canadian government's commitment to "continue to work with its international partners to ensure a coherent and consistent response to fight tax avoidance".

April 26 2017

Cyprus: Changes anticipated on acceptable profit margins between related companies

Maria Nicolaou Zoe Kokoni The Cyprus tax authorities, taking into consideration the international developments (OECD/G20 initiative – BEPS), have decided to amend the tax regime in relation to profit margins on loans between related parties.

April 26 2017

Hong Kong: New Hong Kong tax rules for aircraft leasing

Lewis Lu Curtis Ng On March 10 2017, the Hong Kong government gazetted the Inland Revenue (Amendment) (No.2) Bill 2017, which formally introduces a concessionary tax regime for certain aircraft leasing activities. The law was introduced into the Legislative Council for consideration and is expected to apply from the 2017/18 year of assessment. The main features of the proposed regime are:

April 26 2017

Albania: Albania changes Law on Hydrocarbons

Dorina Asllani Ndreka By adopting Law No. 6/2017, the Albanian Parliament amended the 1993 Law on Hydrocarbons (Exploration and Production). These latest changes are intended to make the law more easily applicable and to bring it closer to the acquis of the EU. The amendments also focus on safeguarding these important public assets.

April 26 2017

Croatia: Croatia implements BEPS Action 13

Silvia Cancedda David Jakovljevic Action 13 of the OECD's BEPS Project has now been fully implemented in Croatia, with the full legal framework in place.

April 26 2017

Turkey: Tax exemption introduced for private vessels

Burçin Gözlüklü Ramazan Biçer Turkey's wealthiest individuals have historically registered their private vessels in the countries where a tax exemption is available. There are also a plenty of private vessels used in Turkish coastal waters that carry a foreign country's flag.

April 26 2017

Malta: Malta amends tax rules on qualifying employment in aviation

Mark Galea Salomone Donald Vella The Maltese legislator has continuously sought to attract high-net worth individuals and highly qualified individuals to Malta's shores, especially in the financial services, gaming and aviation industries.

April 26 2017

Deals of the month

See who has done the tax work on this month’s biggest deals

April 26 2017

Amazon and its lessons for transfer pricing professionals

In light of the US Tax Court’s decision in Amazon v. Commissioner of Internal Revenue, many important predictions have been made about the impact this case will have on future transfer pricing litigation. However, it is important to look at the valuable lessons that should be learned by practitioners, corporations, attorneys, and tax authorities when documenting intercompany transactions, specifically intangibles. John Wiora, director of operations at ktMINE, investigates.

April 26 2017

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