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Senegal on February 4 signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, becoming the 93rd jurisdiction to sign the document, and the Multilateral Competent Authority Agreement for the automatic exchange of Country-by-Country . . .
South Africa's 2016 budget includes a measure to curb perceived abuses associated with hybrid debt instruments and a warning about future action on share buybacks, writes South African tax practitioner, Peter Dachs . . .
Kenya on February 8 signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters . . .
The Inland Revenue Authority of Singapore has announced that tax treaties signed with Rwanda and Thailand entered into force . . .
The Luxembourg Ministry of Finance today announced that Luxembourg and Senegal have signed a new tax treaty. The double tax avoidance agreement was signed by Pierre Gramegna, Luxembourg's . . .
Ireland's tax treaty with Zambia and protocols to tax treaties with Germany and Luxembourg have entered into force and effect, Irish Tax and Customs. . .
The government of Luxembourg has announced that protocols signed with Ireland, Mauritius, Lithuania and United Arab Emirates entered into force on December 11 and . . .
The US IRS has released its annual “no rule” list, adding foreign base company income issues to the list of topics that the agency will “not ordinarily” address in private letter rulings . . .
Singapore’s Ministry of Finance on December 18 announced that tax treaties signed by Singapore and Ecuador . . .
Tax officials from 11 developing nations described the most common practices MNEs use to shift profits out of their countries, obstacles that prevent their countries from stopping these practices, and their reactions to the OECD/G-20 base erosion profit shifting (BEPS) project, responding to a UN request for . . .
Cameroon, on June 25, signed the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, becoming the 65th signatory. To enter into force, the convention must be ratified by Cameroon. Release
The US IRS on December 1 released an advance copy of guidance that provides that countries that have reached FATCA intergovernmental agreements (IGAs) "in substance" that do not sign an IGA by December 31 will continue to be treated as if an IGA was in effect as long as the country displays a "firm resolve" to sign an IGA as soon as possible. The new guidance . . .
The Isle of Man has announced that it signed a tax information exchange agreement (TIEA) with the Kingdom of Swaziland on May 16.The TIEA was signed by Eddie Teare MHK, the Isle of Man’s Treasury Minister, in the Isle of Man, and by Senator Martin G. Dlamini, Swaziland’s Minister for Finance, in Swaziland.The Isle of Man has signed 42 tax agreements, including 32 TIEAs.
A new tax treaty between Hong Kong and South Africa entered into force on October 20, Hong Kong's Inland Revenue Department . . .
The South African Revenue Service on February 12 released draft guidance interpreting special tax incentives for headquarters companies, designed to encourage MNEs to locate operations in South Africa as a gateway to African investment. The law, effective for tax years after January 1, 2011, provides special tax breaks for qualifying. . .
Mauritius and Morocco signed a tax treaty on November 25, the Mauritius goverment . . .
The UAE Ministry of Finance’s (MoF) said August 18 that while Gulf Cooperation Council (GCC) countries have agreed to simultaneously launch a value added tax (VAT), the countries have yet to settle. . .
Hong Kong on May 15 announced that orders were gazetted to implement tax treaties signed with South Africa and the United Arab Emirates and notes exchanged with Japan regarding interpretation of the 2010 Japan/Hong Kong treaty. The tax treaty with South Africa, signed October 2014, reduce. . .
The Netherlands and Malawi have signed a revised tax treaty that includes antiabuse provisions preventing the benefits of the treaty from being used solely to avoid tax, The Netherlands government said on April 23. Dutch Minister for Foreign Trade and Development Cooperation Lilianne Ploumen said that the antiabuse provisions, which relate to taxes on dividends, interest and royalties . . .
G20 finance ministers have agreed to a plan to create a multilateral instrument to implement tax treaty-related measures under OECD/G20 the base erosion and profit shifting (BEPS) plan, the ministers said in a communique following their February 9-10 meeting in Istanbul . . .
Nigeria’s Federal Inland Revenue Service (FRIS) has notified nonresident companies that they must include audited financial statements and tax computations of actual profits . . .
The Mauritius Revenue Authority on October 13 updated its website to indicate . . .
Mauritius on June 23 signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, the OECD has announced. The country is the 87th signatory to the . . .