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Tax-News.com: German Lawmakers Agree Climate Package

On December 18, 2019, the mediation committee of the lower and upper houses of the German parliament (Bundestag and Bundesrat) announced an agreement on the Government's climate legislation, which includes several tax measures.




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Tax-News.com: Switzerland Simplifies Process For German WHT Refunds

The Swiss Government has said that from January 31, individuals and legal entitles domiciled in Germany will be able to use an online Swiss application to request a refund of Swiss withholding tax.




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Tax-News.com: Nautilus Welcomes Progress On Maritime Labour Convention Amendment

Nautilus, an international trade union for maritime workers, has welcomed the outcome of top-level talks on updates to the Maritime Labour Convention to include measures to address bullying and harassment and to safeguard seafarers' wages when they are held captive.




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Tax-News.com: Inmarsat Hails Progress Towards Truly Global Internet

Inmarsat, together with Global Marine Networks and Network Innovations, announced on February 22 that the trial of Fleet Xpress in Antartic waters was a success. The service – the world's first globally available high-speed broadband service from a single network operator – was installed on board the adventure cruise ship Ocean Nova.




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Tax-News.com: Container Shipping Lines Offer Pricing Policy Shake-up

The European Commission has invited comments on commitments offered by fifteen container liner shipping companies to address concerns raised relating to concerted practices.




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Tax-News.com: London On-Water Boat Show To Open In May

The organizers of last year's St Katharine Docks On-Water Exhibition have announced that they are planning an event this year, on May 4-7, that will be double the size of last year's, renamed as "The London On-Water Yacht and Boat Show."




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Tax-News.com: Dutch Ports Appeal Against EU Tax Ruling

The European Commission's ruling directing the Government of the Netherlands to repeal corporate tax exemptions benefiting six seaports will be appealed by the ports in question.




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Tax-News.com: EFTA Signs FTA With The Philippines

Representatives of the European Free Trade Association - Iceland, Liechtenstein, Norway, and Switzerland - and the Philippines signed a free trade agreement in the Swiss capital of Bern on April 28.




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Tax-News.com: Norway's Tax Refunds For Ship Owners Approved

The European Free Trade Association Surveillance Authority has approved a Norwegian state aid scheme which grants tax refunds to ship owners.




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Tax-News.com: EFTA States Conclude Georgia FTA, Begin Ecuador Talks

The member states of the European Free Trade Association signed a free trade agreement with Georgia during a meeting on June 27, 2016.




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Tax-News.com: Hong Kong, Russia DTA Enters Into Force

The comprehensive double taxation agreement between Hong Kong and Russia, which was signed in January this year, entered into force on July 29, 2016, and will be in effect in Hong Kong for any year of assessment beginning on or after April 1, 2017.




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Tax-News.com: EFTA Approves Norwegian Tonnage Tax Extension

The European Free Trade Association Surveillance Authority has approved a six-month extension of the current Norwegian special tax system for shipping under the area's state aid rules.




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Tax-News.com: Seychelles Issues Final Ruling On Expenses Deduction

The Seychelles Revenue Commission has issued its final Public Ruling 2016-2 to provide clarity regarding the methodology used to calculate the additional special business tax deduction allowed for marketing and promotion expenditure.




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Tax-News.com: EFTA Approves Eco Tax Incentives For Norwegian Ships

The European Free Trade Association Surveillance Authority has approved a tax-based state aid scheme aimed at reducing maritime transport pollution in Norway.




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Tax-News.com: South Africa Consults On Diesel Fuel Tax Refund Overhaul

The South African National Treasury has issued a discussion paper on a new diesel tax refund system, reviewing its administration and addressing anomalies related to its qualifying activities and beneficiaries.




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Tax-News.com: Hong Kong Seeking To Improve Insurance Tax Incentives

The Financial Services Development Council released a report on March 3 on the policies, including tax measures, Hong Kong could adopt to improve its position as an insurance hub, especially in reinsurance, marine insurance, and captives.




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Tax-News.com: Greek Shipowners Agree Extra Tax Payments

The Greek shipping industry has agreed to renew a tax agreement under which shipping companies pay additional tax to the Government.




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Tax-News.com: EU Expected To Adopt New Fuel Marker To Prevent Fraud

New chemical markers intended to be used in gas oil (diesel) and kerosene in the EU are more resilient to fraud than the one currently applied, and introducing a new marker might cost less than member states currently lose in tax revenues, a new EU report says.




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Tax-News.com: Greek Shipping Firms Unhappy With Tax Regime

Tax regime instability has been cited by Greek shipping companies as a reason why they would consider switching to an alternative jurisdiction, according to a report by EY.




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Tax-News.com: Norway's Reelected Conservatives Pledge Tax Cuts

Norway's reelected Conservative Prime Minister, Erna Solberg, has pledged tax cuts for companies to encourage higher investment, job creation, and economic growth.




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Tax-News.com: India To Amend GST Rates On Oil, Gas Industry

India's Goods and Services Tax Council has proposed new GST rates for the oil and gas industry.




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Tax-News.com: Philippines May Soon Ratify FTA With European States

Having endorsed the deal, the President of the Philippines, Rodrigo Duterte, has forwarded on a bill to ratify the free trade agreement with the European Free Trade Association states to the Senate.




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Tax-News.com: EC Scrutinizes Tax Breaks For Polish Shipyards

The European Commission has opened an in-depth investigation into a Polish tax scheme for shipyards, which it says could give shipbuilders an unfair competitive advantage over rivals.




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Tax-News.com: European, African States To Review Free Trade Agreement

The European Free Trade Association states (Iceland, Liechtenstein, Norway, and Switzerland), and the South African Customs Union have begun negotiations to review their existing free trade agreement.




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Tax-News.com: Swiss Government Signs Off On Tax, Trade Issues

Switzerland's Government has recently decided on a number of trade matters and reviewed its plans for changes to how it administers vehicle taxes.




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Tax-News.com: EFTA States, Indonesia Ink Trade Deal

The European Free Trade Association states – Switzerland, Liechtenstein, Norway, and Iceland – and Indonesia have signed a Comprehensive Economic Partnership Agreement (CEPA), which will slash tariffs on a majority of industrial goods.




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Tax-News.com: Hong Kong Gazettes Tax Breaks For Ship Leasing

The Hong Kong Government has published in the Gazette legislation to provide profits tax concessions to certain ship lessors and ship leasing managers.




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Tax-News.com: Singapore To Give GST Rebate To 880,000 Households

Singapore's Ministry of Finance has announced that about 880,000 Singaporean Housing and Development Board (HDB) households will receive the next installment of the GST Voucher – Utilities-Save (U-Save) rebate in January 2018.




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Tax-News.com: Cambodia-Singapore Double Tax Deal Effective

Singapore's tax agency has announced that the territory's new double tax avoidance agreement with Cambodia entered into force on December 29, 2017, capping cross-border withholding taxes on trade and investment.




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Tax-News.com: Singapore Urged To Enhance Tax Offering

Ernst and Young Solutions LLP, Singapore, has released its wish list for the Singapore Budget 2018, calling for reforms to sharpen the territory's competitiveness.




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Tax-News.com: UK Lawmakers Discuss Potential Post-Brexit Free Zones

During a January 7, 2018, debate in the UK House of Commons, UK lawmakers discussed the country's plans to leave the EU, its customs union, and value-added tax area.




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Tax-News.com: Singapore To Automatically Exchange Tax Info With 61 States

Singapore has announced that it has activated automatic exchange of information relationships with a total of 61 territories, as part of global efforts to tackle tax evasion and fiscal crime.




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Tax-News.com: Singapore, Sri Lanka Sign Free Trade Pact

Sri Lanka signed its first ever comprehensive free trade agreement on January 23, with Singapore.




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Tax-News.com: Singaporean Emitters Seek Progressive Carbon Tax Regime

Singapore is engaging businesses on tweaking the design of its new carbon tax, which is proposed to be in place by 2019.




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Tax-News.com: Singapore Issues More Automatic Tax Info Exchange Guidance

Singapore's tax agency has made two announcements recently concerning the automatic exchange of information on foreign taxpayers' affairs, on the Common Reporting Standard and the US Foreign Account Tax Compliance Act.




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Tax-News.com: Singapore Confirms Future GST Hike In Budget

Singapore will hike its seven percent goods and services tax rate to nine percent some time between 2021 and 2025, Singapore's Finance Minister, Heng Swee Keat, announced in the territory's new Budget.




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Tax-News.com: Singapore Updates Guidance On Transfer Pricing Regime

The Inland Revenue Authority of Singapore on February 23, 2018, released the fifth edition of its Transfer Pricing Guidelines for income tax.




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Tax-News.com: FATCA Reporting To Start April 16 In Singapore

Financial institutions in Singapore are required to file information required under the US Foreign Account Tax Compliance Act starting April 16 by May 31, 2018.




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Tax-News.com: Singapore Legislates For IP Tax Concession Reform

Singapore has gazetted a law to repeal the income tax concession for intellectual property income derived by companies benefiting from the Pioneer Service Companies Incentive or the Development and Expansion Incentive schemes.




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Tax-News.com: Singaporean Corporate Tax Returns Soon Due

The Inland Revenue Authority of Singapore has issued a reminder to companies that the corporate income tax return filing deadline is either November 30, 2018, for paper returns, or December 15, 2018, for electronically filed returns.




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Tax-News.com: No Tax Surprises In Singapore's 2019 Budget

Singapore's recently released 2019 Budget included few significant tax announcements except confirmation that Singapore's carbon tax will be levied this year and the goods and services tax will be hiked in the medium term.




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Tax-News.com: Singapore Now Accepting FATCA Returns

The Inland Revenue Authority of Singapore is now accepting FATCA returns for the 2018 reporting year and has newly released the FATCA paper nil return for 2018.




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Tax-News.com: Singapore Issues TP Guidance For Commodities Traders

The Inland Revenue Authority of Singapore has released new transfer pricing guidance on determining the economic value of taxpayers' commodity marketing and trading activities in Singapore.




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Tax-News.com: Singapore To Exempt Virtual Currency Transactions From GST

On July 5, 2019, Singapore's tax agency released a draft guide that includes proposals for more favorable GST rules for virtual currencies.




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Tax-News.com: Singapore Issues GST Form Instructions For Reverse Charge Supplies

The Inland Revenue Authority of Singapore (IRAS) has released new guidance for GST-registered persons on the completion of new boxes in the GST F5 return from next year.




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Tax-News.com: Switzerland To Share Taxpayer Data With Hong Kong, Singapore

Switzerland's agreements for the automatic exchange of financial account information with Hong Kong and Singapore have entered into force.




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Tax-News.com: Singapore Updates Guidance On 2020 GST Reverse Charge Change

The Inland Revenue Authority of Singapore has updated its guidance on the introduction from January 1, 2020, of an obligation on Singaporean taxpayers to collect GST on imported services under a reverse charge.




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Tax-News.com: Singapore Reports On Tax, Compliance Work

The Inland Revenue Authority of Singapore (IRAS) has reported that revenues increased by 4.4 percent in the 2018-2019 fiscal year, in its annual report for the year.




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Tax-News.com: Singapore Announces Plans For GST Reforms

Singapore is to add provisions to draft legislation to enhance the new GST regime for imported services and clarify new rules for virtual currencies.




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Tax-News.com: Singapore, Germany Add BEPS Amendments To DTA

Singapore and Germany have signed a protocol to their double taxation agreement, which brings the treaty into line with international standards and amends the maximum withholding tax rates that may be charged.