Asia-Pacific
Indonesia
Africa
Russia, Malta, Mauritius, Hungary, Gabon, Indonesia, Lithuania sign tax agreement on exchange of country-by-country reports
In an effort to provide their tax administrations with tools to combat corporate tax avoidance through transfer pricing, officials from 7 more countries have signed an agreement setting out the parameters for automatic exchange of country-by-country reports on large . . .
Americas
Africa
Americas
Switzerland weighs expansion of automatic exchange of tax information to 20 more countries
Davide Anghileri of the University of Lausanne discusses Switzerland’s decision to launch a consultation on automatic exchange of information with 20 more countries . . .
Asia-Pacific
Asia-Pacific
Asia-Pacific
Asia-Pacific
Americas
India, Australia, Canada, Costa Rica, Indonesia, and New Zealand sign OECD multilateral competent authority agreement
India, Australia, Canada, on June 3 signed the OECD common reporting standard multilateral competent authority agreement, paving the way for automatic exchange of information by the countries’ tax administration, according to press releases issued by the countries’s governments. Costa Rica, Indonesia, and New Zealand . . .
Asia-Pacific
Asia-Pacific
Indonesia to cut tax rates to compete with Singapore
Indonesia intends to gradually lower its corporate tax rate from 25 percent to 17.8 or 17.5 percent to compete with Singapore, reports Bloomberg Business in a May 10 article, quoting Luhut Panjaitan, the president’s chief of staff. See, Indonesia to Cut Taxes to Near Singapore Level in Profits Battle – Bloomberg Business.
Asia-Pacific
Indonesia considering suspension of tax treaties
Indonesia is conducting a review of all tax treaties with other nations to determine if they promote tax avoidance and is considering temporarily suspending them, Finance Minister Bambang Brodjonegoro told reporters November 21, according to mulitple reports by the Indonesian press. See, Katadata (in Indonesian), Merdeka (in Indonesian).
Africa
UK announces plans to begin tax treaty negotiations with several nations
In a paper released November 13, the UK’s HMRC has announced that it will begin tax treaty negotiations with Nepal, Romania, Trinidad, Tobago . . .
Asia-Pacific
Asia-Pacific
TIEA between Isle of Man and Indonesia enters into force
The Isle of Man Treasury announced on October 21 that the “Agreement for the Exchange of Information Relating to Tax Matters” signed by the Isle of Mann and Indonesia on June 22, 2011, entered into force on September 22. Release.
Asia-Pacific
Indonesia lures business with 20-year tax holiday — The Jakarta Post
Indonesia’s finance minister on August 18 issued tax regulations offering a tax holiday to businesses in nine strategic sectors for up to 20 years, writes The Jakarta Post. See: The Jakarta Post. See also: Ministry of Finance release, World Finance, Bloomberg, The Business Times.
Asia-Pacific
China/Indonesia revise tax treaty
The Chinese government on June 3 announced that China and Indonesia signed a tax treaty protocol that stipulates that the two nations will exempt from VAT aviation enterprises engaged in international transportation with each other. The parties also signed a memorandum of understanding that lists the wholly-owned financial institutions of the two governments which are tax exempt under the treaty. Both agreements were signed on March 26. See, Release.
Asia-Pacific
OECD holds Asia-Pacific regional meeting on BEPS
Tax officials from 21 Asia Pacific countries and organizations attended an OECD regional network meeting on base erosion and profit shifting (BEPS) designed to give more nations a voice in the development of OECD/G20 base erosion profiting shifting (BEPS) plan output. The meeting, held February 12–13 in Seoul, also . . .
