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Tax-News.com: UK Crown Dependencies Introducing Economic Substance Rules

Each of the Crown Dependencies – Jersey, Guernsey, and the Isle of Man – have tabled legislation that will introduce new substance requirements for tax-resident firms engaged in certain industries from January 1, 2019.




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Tax-News.com: Netherlands Announces Tax 'Blacklist'

On December 28, 2018, the Dutch Government published in the Official Gazette a list of 21 low-tax jurisdictions. Companies doing business in these territories will face new anti-avoidance measures, intended to tackle tax base erosion and profit shifting.




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Tax-News.com: Singaporean BEPS Treaty Amendments Become Effective

The Inland Revenue Authority of Singapore has announced that the BEPS multilateral instrument entered into force for several of its double tax treaties on April 1, 2019.




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Tax-News.com: Netherlands Begins Consultation On Tax Blacklist

On October 7, 2019, the Dutch Government announced the launch of a consultation on the 2020 edition of the list of low-tax jurisdictions for the purposes of enforcing existing and forthcoming anti-avoidance legislation intended to tackle base erosion and profit shifting.




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Tax-News.com: Jersey Reassures Taxpayers Over Return Delays

Revenue Jersey has sought to reassure taxpayers over fears that they will be charged the default effective rate of tax from next January.




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Tax-News.com: Netherlands Adds To Tax Blacklist

Barbados and Turkmenistan have been added to the Netherlands' list of low-tax jurisdictions for the purposes of enforcing certain anti-tax avoidance rules, the Dutch Ministry of Finance announced on December 30, 2019.




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Tax-News.com: Czech Government Approves Digital Tax

On November 18, 2019, the Government of the Czech Republic announced that it has agreed on a draft law to introduce a tax on digital services, which will now be submitted to parliament.




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Tax-News.com: Costa Rica Ratifies Updated TIEA With US

On November 12, 2019, a law was published in the official gazette of Costa Rica which ratifies the updated Tax Information Exchange Agreement with the United States.




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Tax-News.com: HMRC Releases Final Guidance On Loan Charge Review

The UK tax agency HM Revenue and Customs has released guidance for taxpayers affected by the Loan Charge.




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Tax-News.com: Austria, Ireland Have Failed To Adopt ATAD BEPS Measures

The European Commission has requested that both Austria and Ireland take action to transpose EU-wide interest limitation rules into their respective national laws.




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Tax-News.com: IRS Issues Final Foreign Tax Credit Regulations

On December 2, 2019, the United States Internal Revenue Service issued final regulations on the foreign tax credit following major changes to the US tax code.




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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.




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Tax-News.com: EU Backs 'Accidental Americans' In US Tax Fight

In a letter to United States Treasury Secretary Steven Mnuchin, the European Council has expressed concern at the lack of action by the US Government to alleviate the compliance burdens of EU nationals and financial institutions with regards to the US Foreign Account Tax Compliance Act.




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Tax-News.com: Dutch Senate Approves Tax Plan

On December 17, 2019, the Dutch Senate approved numerous tax measures as part of the 2020 Tax Plan, including changes to corporate, individual, and value-added taxes.




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Tax-News.com: Luxembourg's 2020 Budget Approved By Parliament

On December 19, 2019, Luxembourg's Chamber of Deputies approved the Government's Budget for 2020, which among other measures includes important changes to the validity of advanced tax rulings.




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Tax-News.com: EU Introducing Next Raft Of Anti-BEPS Measures

The provisions of the EU's second Anti Tax Avoidance Directive will become effective in all member states from January 1, 2020.




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Tax-News.com: Turkey Extends VAT Exemption For Machinery

On December 24, 2019, a law was published in Turkey's official gazette extending a value-added tax exemption for the purchase of machinery and equipment.




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Tax-News.com: German FinMin Outlines 2020 Tax Changes

The German Ministry of Finance has outlined a number of tax changes that are due to take effect in 2020 and 2021.




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Tax-News.com: Seychelles Enacts Law For New Property Tax

Seychelles' new Immovable Property Tax Act, 2019, was enacted on December 27, 2019.




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Tax-News.com: Austria Publishes Digital Tax Guide

The Austrian Ministry of Finance has published guidance in English regarding the Digital Tax Act 2020, which was approved by the upper house of the Austrian parliament on October 10, 2019, and which applies to the provision of digital advertising services from 2020.




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Tax-News.com: US IRS Updates Virtual Currency FAQs

The United States Internal Revenue Service has recently updated its list of frequently asked questions and answers on the tax treatment of transactions involving virtual currencies.




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Tax-News.com: New Austrian Government Agrees On Tax Reforms

The new Austrian coalition government, consisting of the conservative People's Party and the Green Party, has agreed on a program for government, which includes several significant tax measures.




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Tax-News.com: UK Reports On Adoption Of EU's DAC6 Tax Scheme Reporting Rules

On January 8, 2020, the UK Government released a policy paper setting out how the UK will temporarily adopt the "DAC 6" EU disclosure requirements on intermediaries that design or sell potentially harmful tax schemes.




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Tax-News.com: Aruba Releases Transfer Pricing Documentation Templates

Caribbean territory Aruba has released instructions on the completion of transfer pricing documentation and released model templates for completion.




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Tax-News.com: EU To Soon Launch Tax And Trade Talks With UK

The European Commission has taken the first step toward negotiating a new relationship with the UK by issuing a recommendation to the European Council that the talks should commence.




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Tax-News.com: Germany Urged To Ensure Data Sharing On Call-Off Stock Arrangements

Germany's IT systems are not ready for the VAT "quick fix" simplifications that entered into force on January 1, 2020, according to the European Commission.




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Tax-News.com: Malta Told To Amend VAT Rules For Yacht Leasing

The European Commission has again asked Malta to amend its method for calculating VAT on yacht leasing.




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Tax-News.com: European Parliament Seeks Aligned EU-UK Rules

Members of the European Parliament want the EU and UK to reach an ambitious new free trade agreement, but have stressed that there must be a "level playing field."




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Tax-News.com: Netherlands To Probe Employment Status Tax Abuse

The Dutch Tax and Customs Administration has launched a campaign to monitor the employment status of individuals working in the care and construction sectors.




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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.




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Tax-News.com: Brexit Negotiations To Begin This Month

The European Council has authorized the opening of negotiations for a new partnership with the UK, and mandated the Commission to act as the EU's negotiator.




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Tax-News.com: OECD Publishes Comments On CbC Reporting Review

The OECD's public consultation on a review into the new transfer pricing documentation rules proposed as part of BEPS Action 13 has closed. It has published the 79 responses received.




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Tax-News.com: Germany Issues Draft Guidance On DAC6

On March 2, 2020, the German Ministry of Finance released a draft discussion document on new rules implementing the sixth European Union Directive on Administrative Cooperation, under which intermediaries are obligated to report certain tax planning schemes.




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Tax-News.com: OECD Releases Cross-Border Int'l Tax Guidance On COVID-19 Issues

The OECD has released guidance for national policymakers on the impact of COVID-19 on the treatment of cross-border workers and the interpretation of international tax treaty rules.




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Tax-News.com: Italy Announces Further COVID-19 Tax Measures

On April 6, 2020, Italy's Council of Ministers announced further measures to support taxpayers affected by the COVID-19 virus, including the postponement of value-added tax, social security, and wage withholding payment deadlines.




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Tax-News.com: Ireland Expands COVID-19 Support For SMEs

The Irish Government has announced the expansion of its support measures for SMEs affected by the economic impact of the coronavirus.




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Tax-News.com: African States Urged To Consider COVID-19 Tax Responses

The African Tax Administration Forum (ATAF) has published a new report titled "Suggested COVID-19 Measures for Revenue Authorities."




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Tax-News.com: Switzerland Has Improved Adherence With Tax Transparency Standards

The OECD's Global Forum has found Switzerland largely compliant with the international standards on transparency and the exchange of information upon request.




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Tax-News.com: OECD Updates List Of International COVID-19 Measures

On April 9, 2020, the OECD released an update to a spreadsheet hosted on its website that maps out all the various tax policy responses countries have taken to support individual and corporate taxpayers following the outbreak of COVID-19.




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Tax-News.com: Brazil Adds To COVID-19 Tax Response

Brazil has announced a number of additional tax payment and filing concessions in response to COVID-19.




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Tax-News.com: COVID-19: Austria Exempts Employee Bonuses From Tax

The Austrian parliament has approved measures to exempt allowances and bonuses paid to employees from all taxes as part of the Government's economic response to the COVID-19 crisis.




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Tax-News.com: COVID-19: Austria Suspends Tax Administrative Proceedings

The Austrian Ministry of Finance has announced that proceedings in relation to tax offences and the payment of duties and fees will be extended due to restrictions on movement imposed as a result of the COVID-19 virus.




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Tax-News.com: COVID-19: Bolivia Announces Filing, Payment Deferrals

Bolivia has announced a number of filing and payment extensions for taxpayers, in response to the COVID-19 outbreak.




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Tax-News.com: Netherlands Publishes Guidance On BEPS MLI

On April 6, 2020, the Dutch Ministry of Finance published guidance material on the application of the BEPS Multilateral Instrument and its effect on Dutch tax treaties.




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Tax-News.com: Malta Issues Payroll Tax Guidance On COVID-19 Wage Supplement

On April 4, 2020, Malta released payroll tax-related guidance for employers on the Government's responses to the COVID-19 epidemic.




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Tax-News.com: Chile Announces COVID-19 Tax Package

The Chilean President Sebastian Pinera has announced a number of tax relief measures for businesses and individuals impacted by COVID-19.




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Tax-News.com: UK Digital Tax Guidance Needed On Scope, Liability: CIOT

The Chartered Institute of Taxation has called on the UK Government to clarify questions remaining about the UK's Digital Services Tax, which became effective this month.




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Tax-News.com: IRS Publishes Transfer Pricing FAQs

On April 16, 2020, the United States Internal Revenue Service issued a set of frequently asked questions and answers to help inform taxpayers about transfer pricing documentation best practices.




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Tax-News.com: US Taxpayers Can Apply Online For COVID-19 Economic Impact Payments

On April 15, 2020, the United States Internal Revenue Service unveiled the "Get My Payment" online tool that will allow taxpayers to receive economic impact payments under the Coronavirus Aid, Relief, and Economic Security Act.




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Tax-News.com: OECD Publishes Comments On Gig Economy Reporting Framework

The OECD has published the comments it has received on a proposal for a framework of Model Rules for sharing and gig economy platforms to report the activities of their users, to support tax authorities to ensure the collection of tax.