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Russia: Russian MAP Profiles: A step forward in resolving treaty-related disputes

Alexander Grinko The BEPS Action 14 report "Making Dispute Resolution Mechanisms More Effective" (hereinafter, the 2015 Action 14 Report) contains a commitment by countries to implement a minimum standard to ensure that they resolve treaty-related disputes in a timely, effective and efficient manner by publishing their Mutual Agreement Procedure (MAP) profiles.

February 28 2017

Serbia: Serbia adopts amendments to VAT Law

Aleksandra Rafailovic The Serbian parliament adopted the Law on Amendments to the Law on VAT (Official Gazette of RS, No. 108/2016) on December 28 2016. The Law entered into force on January 1 2017 and the greatest impact of this Law will be felt by companies trading across borders.

February 28 2017

Hong Kong: Hong Kong plans new tax regime for aircraft leasing

Khoonming Ho Ayesha Macpherson Lau The Hong Kong government briefed the Legislative Council Panel on Economic Development on January 23 2017 about a proposed new tax regime for aircraft leasing in Hong Kong. This development comes at an opportune time when, for example, Boeing is forecasting global demand for 39,600 new airplanes over the next 20 years, with 38% for Asia-based airlines, of which 17% are for China.

February 28 2017

Montenegro: Tax debt payment plan introduced in Montenegro

Ivan Petrovic Montenegro's Ministry of Finance and Tax Administration have created a new incentive in the tax system for companies with tax debt.

February 28 2017

Indonesia: New policy to allow tax authorities to access banks’ taxpayer data

Freddy Karyadi Danny Tanuwijaya As the tax amnesty period comes to an end soon, the Indonesian tax authority has prepared its next plan to improve tax revenue and tax compliance.

February 28 2017

Turkey: Turkey introduces a new scheme to boost investment in underdeveloped areas

Burçin Gözlüklü Ramazan Biçer Turkey has introduced several incentive packages to attract foreign investors over the past decade. As a successor of earlier incentives, the Turkish government has recently released a new centre of attraction programme to accelerate the amount of domestic and foreign investments made in the relatively less developed areas of the country.

February 28 2017

US Inbound: Executive Order could displace recent tax regulations

Jim Fuller David Forst President Trump issued an Executive Order (EO) on January 30 2017 regarding regulations that could have a significant impact on recently issued tax regulations.

February 28 2017

Tax Relief

Because tax doesn’t have to be taxing. A less-than-serious look back at some of the quirkier tax stories from the past month

February 28 2017

Norway: Breach of EEA law rejected and plans to change interest cap rules announced

Daniel M H Herde Trond Eivind Johnsen In October 2016, the EFTA Surveillance Authority (ESA) issued a reasoned opinion stating that the Norwegian interest deduction limitation rules (interest cap rules) constitute a restriction on the freedom of establishment within the EU/EEA area.

February 28 2017

New Zealand: New Zealand releases discussion document on modernising tax administration

Chris Harker Jessica Riley The New Zealand government released a discussion document late last year, outlining proposals to simplify and modernise the Tax Administration Act. The proposals are one aspect of Inland Revenue's broader business transformation project.

February 28 2017

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