news

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.




news

Tax-News.com: HK, France To Share Multinationals' Country-by-Country Reports

Hong Kong has newly signed an agreement with France to automatically exchange country-by-country reports filed by multinationals.




news

Tax-News.com: Hong Kong Eases Stamp Duty Rules For Residents

Hong Kong has relaxed the rules for those buying residential property, with the publication in the Official Gazette of The Stamp Duty (Amendment) Ordinance 2018 on January 19, 2018.




news

Tax-News.com: IMF Encourages Hong Kong To Consider Tax Reforms

The International Monetary Fund has urged Hong Kong to consider tax reform options to boost revenues while maintaining the economy's competitiveness and flexibility.




news

Tax-News.com: Hong Kong To Soon Join OECD's Multilateral Tax Compact

Hong Kong on February 2, 2018, ratified an Ordinance to enable the territory to soon join the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters and thereby more simply and more broadly agree to exchange tax information with other countries' tax authorities.




news

Tax-News.com: Hong Kong's New Budget Contains Tax Relief Measures

Hong Kong's new Budget contained a number of new tax perks for individuals and measures to promote the adoption of environmentally friendly technologies, but few measures for businesses.




news

Tax-News.com: Hong Kong Launches CbC Reporting Portal

Hong Kong's Inland Revenue Department on March 5 launched its new Country-by-Country Reporting Portal.




news

Tax-News.com: Hong Kong Gazettes Tax-Cutting Budget Bill

On March 9 Hong Kong's Inland Revenue Department gazetted the Inland Revenue (Amendment) Bill 2018, containing measures worth HKD30bn (USD3.82bn) announced in the Budget.




news

Tax-News.com: Tax-Privileged Free Trade Zones The OECD's Next Target

In a new report, the OECD has drawn attention to criminal activity in free trade zones, which typically offer tax privileges and lighter regulation, highlighting that they may be unintentionally fostering growth in counterfeit goods.




news

Tax-News.com: India, Hong Kong Sign Double Tax Deal

Hong Kong and India on March 19 signed an agreement to avoid double taxation and limit withholding tax rates on passive income at source.




news

Tax-News.com: Hong Kong Confirms Profits Tax Shakeup From April

Hong Kong has gazetted an ordinance to establish a new two-tier corporate tax regime from April 1, 2018.




news

Tax-News.com: Hong Kong Tables Bill For Research And Development Tax Breaks

The Hong Kong Government has released a draft bill containing its 2017 proposal to provide an enhanced tax deduction for research and development expenditure.




news

Tax-News.com: Hong Kong To Ensure ITVF Tax Break For Offshore Investors

Hong Kong's Government has published a draft law preserving the profits tax exemption for offshore venture capital funds who participate in the island's new Innovation and Technology Venture Fund.




news

Tax-News.com: HK Government Studying Vacant Property Tax

Hong Kong's Government says it is studying the feasibility of introducing a tax on vacant "first-hand" private residential properties.




news

Tax-News.com: HK's Legislature Passes 2018/19 Budget Bill

Hong Kong's Secretary for Financial Services and the Treasury, James Lau, has welcomed the recent passage of the 2018/19 Budget Bill through the special administrative region's parliament.




news

Tax-News.com: Hong Kong Issues Tax Compliance Guide For Property Owners

On June 14, 2018, Hong Kong's Inland Revenue Department released guidance on the tax obligations of landlords.




news

Tax-News.com: Hong Kong's Parliament Endorses Improved R And D Tax Breaks

Hong Kong's Legislative Council has passed legislation to improve the jurisdiction's tax incentives for research and development spending.




news

Tax-News.com: OECD Reports Progress On Harmful Tax Regimes Work

Releasing a progress update, the OECD said international efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide.




news

Tax-News.com: Hong Kong Guides On New Business Tax Reliefs

Hong Kong's Inland Revenue Department has noted that, starting from the year of assessment 2018/19, capital expenditure incurred for procuring environmental protection installations should be deducted in a single year, rather than over five years.




news

Tax-News.com: Hong Kong Issues New Guidance On Foreign Tax Credits

Hong Kong's Inland Revenue Department has released new guidance notes on the deduction of foreign taxes.




news

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.




news

Tax-News.com: New Zealand Tops World Bank's 'Doing Business' 2020

New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world.




news

Tax-News.com: OECD Releases Eight New Action 14 Peer Reviews

The OECD recently released the seventh round of stage one peer review reports, assessing eight jurisdictions' efforts to implement the BEPS Action 14 minimum standard on tax dispute resolution.




news

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.




news

Tax-News.com: Hong Kong Announces Tax Credit Handout In 2020 Budget

Hong Kong's 2020 Budget includes plans for a one-off reduction of profits tax, salaries tax, and tax under personal assessment.




news

Tax-News.com: Hong Kong Releases New Guidance On Advance Rulings

Hong Kong has updated its guidance on advance rulings, to reflect changes to Hong Kong's practices as a result of its efforts to comply with the OECD's minimum standards proposed as part of the base erosion and profit shifting (BEPS) Action Plan.




news

Tax-News.com: Swiss CbC Reporting Regime Wins OECD Approval

Switzerland's country-by-country reporting regime meets international standards and the country effectively exchanges the reports it receives with other countries, an OECD peer review has concluded.




news

Tax-News.com: US-Switzerland Double Tax Protocol Now In Force

The Swiss Government on September 20, 2019, announced that it has exchanged instruments of ratification with the United States to bring into force a Protocol to their double tax agreement.




news

Tax-News.com: Switzerland Legislates To Improve Taxpayer Oversight

The Swiss Federal Council will bring into force legislation on the implementation of recommendations made by the Global Forum on Transparency and Exchange of Information for Tax Purposes.




news

Tax-News.com: Switzerland Sends 2019 Taxpayer Data Under CRS

Switzerland's Federal Tax Administration has announced the exchange of information on millions of financial accounts with 75 partner countries.




news

Tax-News.com: EU Updates Tax Blacklist

The EU has removed two countries from its list of non-cooperative tax jurisdictions and found a further five to have met their commitments on tax cooperation.




news

Tax-News.com: Switzerland Welcomes Removal From EU Tax Grey List

The Swiss Government has welcomed Switzerland's removal from the EU's list of non-cooperative tax jurisdictions, and said that the country meets and implements international tax standards.




news

Tax-News.com: Costa Rica Clarifies Amendments To Non-Cooperative Tax List

Costa Rica's Ministry of Finance has released a statement clarifying its decision to exclude a number of territories with low effective income tax rates from its list of non-cooperative territories.




news

Tax-News.com: Switzerland Publishes VAT Guides For Sportspeople

On October 22, 2019, the Swiss Federal Finance Department uploaded a series of publications concerning the value-added tax rules for those participating in and organizing sporting events.




news

Tax-News.com: Swiss Gov't Approves Changes To Iran DTA

On October 23, the Swiss Federal Council adopted a dispatch on a protocol to the double tax agreement with Iran, which implements the minimum standards for such agreements.




news

Tax-News.com: Swiss Tax Transparency Changes Enter Into Force

The Swiss Government has published guidance on the legislation that brings into force the recommendations made by the Global Forum on Transparency and Exchange of Information for Tax Purposes.




news

Tax-News.com: Switzerland, EU To Link Emissions Trading Systems

Switzerland and the EU are to link their emissions trading systems from next year, after the Swiss Federal Council approved revisions to the country's Ordinance on the Reduction of CO2 Emissions.




news

Tax-News.com: Switzerland To Improve Tax Information Exchange Regime

Switzerland is to amend its domestic framework for the automatic exchange of information, in line with recommendations made by the Global Forum on Transparency and Exchange of Information for Tax Purposes.




news

Tax-News.com: Switzerland, Bahrain Sign DTA

On November 25, 2019, Switzerland and Bahrain signed a double tax agreement that caps maximum withholding tax rates and provides for the exchange of information.




news

Tax-News.com: Switzerland Publishes New English-Language VAT Guide

The Swiss Federal Tax Authority has released new English-language guidance for foreign businesses on their obligations under Swiss VAT law.




news

Tax-News.com: Swiss Tax Disputes Resolved Quickly In 2018: Report

Switzerland has released a report on its efforts to resolve tax disputes, noting that the average time to complete mutual agreement procedure cases was 13 months in 2018, significantly below that required under the BEPS minimum standards.




news

Tax-News.com: Liechtenstein, Switzerland Agree Administrative Cooperation On VAT

Liechtenstein and Switzerland have agreed a new cooperation pact in the area of value-added tax administration and enforcement.




news

Tax-News.com: Switzerland Redrafts Double Tax Treaty Law

The Swiss Government has released new legislation governing Switzerland's application of provisions in its network of double tax agreements.




news

Tax-News.com: Switzerland, Italy Agree Tax Deal Covering Campione d'Italia

Switzerland and Italy are to amend the customs status of the Italian enclave of Campione d'Italia.




news

Tax-News.com: Switzerland To Overhaul Corporate Tax Rules On January 1

Switzerland is due to introduce its new corporate tax regime from the beginning of 2020.




news

Tax-News.com: France And US Seek End To Digital Tax Dispute

According to French Finance Minister Bruno Le Maire, France and the United States will in the next two weeks attempt to reach a compromise over their ongoing dispute regarding France's new digital services tax.




news

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.




news

Tax-News.com: Switzerland Urged To Reform WHT System

The advisory board tasked with reporting on the state of Switzerland's financial center has recommended that the country overhaul its withholding tax system to improve its capital market offering.




news

Tax-News.com: France Confirms Digital Tax Delay

On January 22, 2020, French Finance Minister Bruno Le Maire confirmed that France will suspend collection of its digital services tax this year to prevent the United States from applying retaliatory tariffs on a range of French goods.




news

Tax-News.com: Switzerland Confirms Status Quo With UK

Switzerland has said that the withdrawal of the UK from the EU on January 31 will not change the relationship between Switzerland and the UK in the near future.