ITR Search | International Tax Review

Italy: New revision of the Italian Transfer pricing provisions on arm’s length principle

Barbara Scampuddu Gian Luca Nieddu On April 24 2017, the Italian Government introduced two important changes affecting the definition of the arm's-length principle for transfer pricing purposes. Art. 59 of Law Decree n. 50/2017, in fact, replaced the concept of "normal value" mentioned in Art. 110 paragraph 7 of the Italian Income Tax Code (ITC), fully aligning the wording of the domestic rule with the OECD arm's-length principle.

May 30 2017

Turkey: New tax amnesty to be introduced

Duran Bülbül Turkey has introduced three different tax amnesties in the past decade. The last one was introduced within the "public debts programme" in 2016. This time, the Turkish government declared a new tax amnesty to restructure public debts in early May.

May 30 2017

Ireland: Ireland’s cooperative compliance framework

Joe Duffy Kathryn Stapleton The Irish Revenue Commissioners (Irish Revenue) has relaunched its cooperative compliance framework (CCF) for large cases division (LCD) taxpayers with effect from January 1 2017.

May 30 2017

Poland: The benefits of operating in a special economic zone

Monika Dziedzic Until 2027, most of businesses operating in Polish special economic zones (SEZs) may be exempt from profits tax and real estate tax. There are 14 SEZs located all around Poland, but the SEZ status may be also given to nearly any appointed location.

May 30 2017

Spain: Would EU law preclude Spanish inheritance and gift tax legislation in relation to cases involving parties resident in third states?

Rafael Calvo Salvador Pastoriza The EU institutions have emphasised in the past that European law precludes the Spanish inheritance and gift tax legislation. As a result, the European Commission commenced an infringement procedure against Spain to put an end to the discrimination being suffered by some EU citizens as a result of the wording of the Spanish (central and autonomous community government) legislation in force at that time, applicable to inheritances.

May 30 2017

Australia gets even tougher on tackling MNE tax avoidance

Businesses will see their nest eggs hit as the ATO gets tough Australian Treasurer Scott Morrison says the government will continue its crackdown on multinationals not paying their 'fair share' of tax and announced more targeted measures in his 2017-18 budget speech. He also announced a major levy that will hit the country's biggest banks.

Anjana Haines, May 30 2017

UK losing billions from leaky online VAT laws

The UK is losing between £1 billion and £1.5 billion ($1.3-1.9 billion) to online VAT fraud and errors per year, a new report has said. The report comes just days after the EU said it could fine the UK €2 billion for failing to charge customs duties on the import of Chinese goods.

Joe Stanley-Smith, May 30 2017

Celebrating the wonders of tax and justice

As the latest film in the DC franchise, Wonder Woman, premiers on the silver screen and fans get ready for the next instalment in November with Justice League, we are celebrating the wonder women and supermen of tax.

Anjana Haines, May 30 2017

Deals of the month

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

May 30 2017

Talking to the OECD: Tech disruption in tax administration

Peter Green, head of the Forum on Tax Administration (FTA) Secretariat at the OECD shares his views with the Inland Revenue Authority of Singapore (IRAS) and International Tax Review on how technology is changing the status quo for many industries and tax administrations with the constant emergence of new technologies and rising taxpayer expectations.

May 30 2017

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