ITR Search | International Tax Review

New Zealand: Implementation of the global standard on automatic exchange of information

Alex Mackenzie The New Zealand Inland Revenue Department has released an official issues paper 'Implementing the global standard on automatic exchange of information' (Issues Paper). The Issues Paper follows New Zealand's announcement on May 7 2014 of its commitment to implement the G20's Automatic Exchange of Information (AEOI) Standard.

March 30 2016

Chile: Voluntary income tax payment opportunity

Rodrigo Winter Loreto Pelegri Chile has an integrated tax system under which corporate income tax is fully creditable against final taxes such as surtax and additional withholding tax when a dividend or profit distribution occurs.

March 30 2016

EU: Member states agree to implement BEPS Action 13 CbCR by EU-wide Directive

Bob van der Made In the public session of the ECOFIN Council meeting of March 8 2016, the EU's 28 finance ministers reached political agreement on a Dutch EU Council Presidency draft compromise text on the EU Commission's draft Council Directive amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation (between EU tax administrations), also known as 'DAC4'.

March 30 2016

Cyprus: Treaty analysis: Cyprus – Ethiopia double tax agreement

Christiana Nicolaou Cyprus is continuing to develop its network of double taxation treaties (DTTs) through the signing of a new DTT with the Federal Democratic Republic of Ethiopia, on December 30 2015. The treaty is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital, and it was published with the official Cyprus Government Gazette on January 18 2016.

March 30 2016

The existing tax treaty between Cyprus and Germany has been amended

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Norway: New proposal for a statutory GAAR in Norway

The evaluation of the GAAR is following up on one of the recommendations put forward by the Scheel tax commission.

Daniel M H Herde, March 30 2016

Walmart triumphs in Puerto Rico tax case

Retailer Walmart has won a $100 million tax case against the Puerto Rican Government in controversial circumstances. The multinational is the largest private sector employer in Puerto Rico.

Joe Stanley-Smith, March 30 2016

New head of global tax administration program

James Karanja has been appointed as the new head of the OECD and UN Development Programme initiative, Tax Inspectors Without Borders (TIWB). He is expected to commence the role on April 11 2016.

Amelia Schwanke, March 30 2016

Canada’s corporate income tax revenues projected to decline

Canadian Prime Minister Justin Trudeau’s first federal Budget has a clear focus on economic growth, job creation and innovation although includes deficit financing measures, which has led economists to project a decline in income tax revenues.

Amelia Schwanke, March 29 2016

Osborne Clarke gains new senior associate

Andrew Dickson will join the private client practice as a senior associate in Osborne Clarke's London office.

Amelia Schwanke, March 29 2016

Italian tax authorities clarify APA procedure

On March 21 2016, the director of the Italian Revenue Office (Agenzia delle Entrate) issued regulation no. 42295/2016 (the regulation), containing provisions for the application of the rules on advance pricing agreements (APAs) for enterprises with international activities.

March 29 2016

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