Asia-Pacific
Jersey signs tax treaty with United Arab Emirates
Jersey has signed a tax treaty with the United Arab Emirates, the goverment of Jersey announced April 21 . . .
Asia-Pacific
Asia-Pacific
Singapore budget 2016 includes tax breaks for SMEs: Deloitte→
See: Deloitte. More: EY. Original sources: IRAS – Budget 2016 – Overview of Tax Changes, MOF – Budget 2016.
Asia-Pacific
Switzerland and South Korea agree to establish automatic exchange of information
Switzerland and South Korea have agreed to work toward implementing automatic exchange of information (AEOI) in tax matters on a reciprocal basis in accordance with the OECD common . . .
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Americas
Asia-Pacific
Vietnam becomes 100th member of “BEPS framework” to fight tax avoidance
The OECD on June 21 announced that Vietnam has pledged to work alongside other nations on the continuing the work of the OECD/G20 base erosion . . .
Asia-Pacific
India revises transfer pricing safe harbors providing tax relief to multinationals
India transfer pricing specialist Ajit Jain discusses the government’s June 7 decision to add a new transfer pricing safe harbor for low-value adding intragroup services and reduce existing safe harbor margins for knowledge process outsourcing services, contract research and development services, and other services.. . . .
Asia-Pacific
Australia hits multinationals with large tax bills using new anti-avoidance law
Australia has assessed seven multinational corporations with tax liabilities totaling AUS $2.9 billion (~USD 2.2 billion), Treasurer Scott Morrison and Minister . . .
Asia-Pacific
Taiwan offers VAT refund to some foreign enterprises without fixed place of business
Taiwan’s taxation office announced Monday that foreign enterprises and other entities from specified countries that have no fixed place of business in Taiwan but engage in. . .
Asia-Pacific
Japan, Austria tax treaty signed
Japan and Austria signed a new tax treaty on January 30 to update their 1963 agreement, Japan’s . . .
Asia-Pacific
India, Switzerland agree to automatic exchange of information in tax matters
Davide Anghileri of the University of Lausanne discusses Switzerland and India’s November 22 signing of a joint declaration on the introduction of automatic exchange of information in tax matters . . .
Asia-Pacific
Singapore releases tax form for reporting related party transactions
Singapore’s Inland Revenue Service has today released a sample copy of tax form to be used by multinationals to report related party transactions. The form is designed to allow the tax agency to better assess transfer pricing . . .
Asia-Pacific
Australia reviewing its research and development tax incentive
The Australian government on September 28 released a draft report suggesting ways to improve the country’s research and development (R&D) tax incentive . . .
Asia-Pacific
Hong Kong law on automatic exchange of tax information goes into effect
Hong Kong’s Inland Revenue Department announced September 9 that tax legislation that provides for automatic exchange of financial account information (AEOI) entered into effect . . .
Asia-Pacific
Japan and Estonia to negotiate tax treaty
Japan and Estonia will begin negotiations for a tax treaty, Japan’s Ministry of Finance announced . . .
Asia-Pacific
Indian and Liechtenstein officials express interest in negotiating tax treaty
Liechtenstein and India may soon negotiate. . .
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Africa
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Singapore budget introduces GST on imported digital services, promotes nation’s role as financial and innovation hub
Eugene Lim of Providence Law Asia, LLC, discusses Singapore’s highly-anticipated Budget 2018, released today, which includes a goods and services tax (GST) rate hike, a new GST levy on imported digital services and carbon tax, and new tax rules aimed at strengthening Singapore’s role as a financial and innovation hub . . .
Asia-Pacific
Asia-Pacific
Feedback sought in review of 8 countries’ tax dispute resolution processes
The OECD on June 9 asked multinational firms to provide feedback regarding their experiences with the tax dispute resolution processes in the Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain. The eight countries’ mutual . . .
Asia-Pacific
Japan to sign tax treaties with Denmark and Estonia
Japan’s Ministry of Finance today announced that it has reached agreements in principle for tax treaties . . .
Asia-Pacific
Americas
US FATCA IGAs with Panama, Georgia enter into force; IGA with Antigua and Barbuda signed
The US Treasury Department today updated its FATCA website, reporting that Model 1 intergovernmental agreements (IGAs) entered . . .
Asia-Pacific
Japan, Belgium sign tax treaty
Japan and Belgium today signed a new tax treaty, Japan’s Ministry of Finance . . .
Asia-Pacific
China makes major changes to transfer pricing documentation and reporting rules for multinationals
Daniel Chan, Windson Li, and Henry Ji, of DLA Piper, Hong Kong, provide a comprehensive overview of key Chinese transfer pricing documentation, inter-company transaction reporting, and country-by-country reporting rules, which were adopted on July 13 . . .
