Asia-Pacific
India-Macedonia tax treaty enters into effect
The Indian government, in a notice dated December 21, announced that a tax treaty signed by India and the Republic of Macedonia . . .
Asia-Pacific
Asia-Pacific
Singapore-Luxembourg tax treaty enters into force
The Inland Revenue Authority of Singapore has announced that the Luxembourg-Singapore tax treaty, signed . . .
Asia-Pacific
Taiwan advises foreign profit seeking enterprises to pay tax on Taiwan source income
Taiwan’s National Taxation Bureau of Taipei, Ministry of Finance (NTBT), in a notice dated December 28, reminded foreign business entities that they must pay the profit-seeking enterprise income tax according . . .
Americas
BRIC countries pledge to work together to stop tax avoidance and evasion
The BRIC countries of Brazil, Russia, India, and China have agreed to strengthen cooperation in areas such as transfer pricing and automatic exchange of financial account information to jointly crack . . .
Asia-Pacific
China to complete switch from business tax to VAT in 2016
China will complete its plan to replace the business tax with a value-added tax (VAT) for the services sector in 2016, the official state news agency Xinhua reported Monday. VAT reform will be implemented . . .
Asia-Pacific
Americas
US weighing changes to draft model tax treaty provisions, negotiating new treaty with Luxembourg
The US is considering changes to draft US Model Income Tax Convention provisions released last May, including several changes to provisions that deny tax treaty benefits to related party payments that are subject to a special tax regime (STR) . . .
Africa
Singapore’s tax treaties with Ecuador, San Marino, and Seychelles enter into force
Singapore’s Ministry of Finance on December 18 announced that tax treaties signed by Singapore and Ecuador . . .
Asia-Pacific
Japan and Germany sign tax treaty
Japan and Germany on December 17 signed a tax treaty, wholly amending the . . .
Asia-Pacific
Hong Kong/UAE tax treaty enters into force
A tax treaty between Hong Kong and the United Arab Emirates entered into force . . .
Asia-Pacific
Australia publishes tax paid by 1539 large MNEs in 2013-14, finding 579 paid nothing: Matthew Doran / ABC News (Australian Broadcasting Corporation)→
Source: ABC News (Australian Broadcasting Corporation), See also: Reuters, Wall Street Journal. For the report, see ATO. For explanatory material, see, ATO.
Asia-Pacific
Australia issues guidance on country-by-country reporting
The Australian government on December 17 issued detailed guidance on newly enacted Subdivision 815-E of the Income Tax Assessment Act 1997 concerning transfer pricing documentation . . .
Africa
Developing nations detail their experiences with BEPS, react to OECD work
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 . . .
Asia-Pacific
Niue signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
Niue on November 27 signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, becoming the 92nd signatory. . .
Asia-Pacific
Switzerland’s Federal Council adopts dispatch on double taxation treaty with Oman
Switzerland’s Federal Council today announced that it has adopted a dispatch on a double taxation agreement signed with Oman on May 22. The agreement has been . . .
Asia-Pacific
Japan and Germany agree to terms of new tax treaty
Japan and Germany have reached an agreement in principle on a new tax treaty, Japan’s Ministry of Finance announced July 16. The new treaty will include an arbitration clause . . .
Americas
US and Philippines sign Model 1 FATCA IGA
The US Treasury Department has updated its FATCA website, reporting that the Philippines has signed a Model 1 intergovernmental agreement (IGA) with the United States as of July 13. . .
Asia-Pacific
Asia-Pacific
US and Uzbekistan sign Model 1 FATCA IGA
The US Treasury Department has updated its FATCA website, reporting that Uzbekistan has signed a Model 1 intergovernmental agreement (IGA) with the United States as of April 3. The text of the agreement is available. See, Model 1 IGA.
Asia-Pacific
Taiwan’s tax authority advises on new law that limits tax credits for dividend payments
The National Taxation Bureau of Taipei, Ministry of Finance (NTBT) on December 31 issued English-language guidance on a new law which reduces by half the tax credits available when dividends are paid to foreign or domestic taxpayers. The new law, passed by the
. . .
Americas
US IRS gives countries with “in substance” FATCA IGAs more time to sign IGAs, adds more countries to the “in substance” list
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 . . .
Asia-Pacific
Revised treaty between Australia and Switzerland enters into force
A revised tax treaty and protocol between Australia and Switzerland, signed July 30, 2013, entered into force on October 14 , Australia’s tax authority has announced. Australian legislation enforcing the revised tax treaty received royal assent on September 24. See, release, Australia-Switzerland Tax Treaty (142 KB).
Asia-Pacific
Hong Kong enacts tax concessions for 2013-14
Hong Kong’s Legislative Council, on June 25, passed concessionary tax measures that reduce by 75 percent the profits tax, salaries tax, tax under personal assessment for tax year 2013-14, subject to a ceiling of $10,000 per case
Asia-Pacific
Asia-Pacific
Philippines-Qatar tax treaty enters into force
The Philippines-Qatar double taxation agreement, signed December 2008, has entered into force as. . .
Asia-Pacific
Hong Kong, South Africa tax treaty enters into force
A new tax treaty between Hong Kong and South Africa entered into force on October 20, Hong Kong’s Inland Revenue Department . . .
Americas
US signs first competent authority arrangements to implement FATCA IGAs with Australia and UK
The US IRS announced November 24 that it has signed competent authority arrangements (CCAs) with Australia and the UK to establish . . .
Asia-Pacific
Asia-Pacific
Hong Kong, Italy tax treaty enters into force
A tax treaty between Hong Kong and Italy signed January 2013 has entered into force as of August 10, Hong Kong’s Inland Revenue Department has . . .
Asia-Pacific
Australian Senate report advocates heightened public disclosure of multinationals’ tax affairs
An interim report prepared by the Australian Senate Economic References Committee, released August 18, calls for laws mandating greater public disclosure of tax information of large . . .
Asia-Pacific
Australian draft laws introduce country-by-country reporting, double penalties for profit shifting and tax avoidance
Australia’s Treasury on July 6 released draft laws introducing country-by-country reporting documentation standards and doubling administrative penalties for multinational entities that have entered into tax avoidance or profit shifting schemes. Both measures were first announced . . .
Asia-Pacific
India Supreme Court invalidates law establishing National Tax Tribunal
India’s Supreme Court has ruled that the law establishing India’s National Tax Tribunal (NTT) is unconstitutional, including a section of the law that allowed chartered accountants and corporate secretaries to represent parties before the NTT.
The decision concerns the 2005 NTT Act, which established specialized tribunals . . .
Asia-Pacific
India extends excise duty concessions for autos and other vehicles
India’s Ministry of Finance, on June 25, announced that the government will extend excise duty concessions for cars and other vehicles until December 31. The concessions were originally
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Americas
Remuneration of Canadian resident employee working in Australia subject to Australian tax because of employer’s deemed PE, says ATO
The Australian Taxation Office has ruled, in a May 30 interpretative decision. . .
Asia-Pacific
Asia-Pacific
Australia’s tax treaty definition of royalties is unclear, says professor: SSRN→
See: Royalties in Australia: Task Technology and Seven Network Cases by Richard J. Vann: SSRN.
Americas
Asia-Pacific
Asia-Pacific
