news Tax-News.com: OECD Releases 2020 Tax Trends Report By www.tax-news.com Published On :: Thu, 10 Dec 2020 00:00:00 GMT Tax revenues fell across the OECD for the first time in a decade during 2019, but a much larger decrease is expected in 2020 as a result of the COVID-19 pandemic, according to the OECD's newly released annual Revenue Statistics report. Full Article
news Tax-News.com: Belgium Extends Cross-Border Worker Deals By www.tax-news.com Published On :: Fri, 1 Jan 2021 00:00:00 GMT Belgium has agreed with the Netherlands, France, Luxembourg, and Germany to extend until March 31, 2021, tax administrative concessions for cross-border workers affected by COVID-19 restrictions. Full Article
news Tax-News.com: Isle of Man Reminds Of Tax Payment Deadlines By www.tax-news.com Published On :: Wed, 13 Jan 2021 00:00:00 GMT The Isle of Man has issued a reminder of the deadlines for 2019 corporate tax returns and for certain personal tax payments. Full Article
news Tax-News.com: Switzerland To Add Anti-BEPS Provisions To Two Treaties By www.tax-news.com Published On :: Wed, 9 Sep 2020 00:00:00 GMT On August 26, 2020, the Swiss Federal Council ratified a new double taxation agreement with Bahrain and a Protocol to revise its DTA with Kuwait. Full Article
news Tax-News.com: Netherlands Cancels Corporate Tax Rate Cut By www.tax-news.com Published On :: Tue, 22 Sep 2020 00:00:00 GMT The Dutch Government has decided to cancel a planned decrease in the corporate tax rate in its 2021 Tax Plan. Full Article
news Tax-News.com: Cyprus Adds To Guidance On Calculation Of NIDs By www.tax-news.com Published On :: Tue, 29 Sep 2020 00:00:00 GMT The Cyprus Tax Department has released ten-year government bond yield rates for five new territories, to support businesses in calculating claims for Cyprus's Notional Interest Deduction. The rates are for Bermuda, Denmark, Jordan, Portugal, and Switzerland. Full Article
news Tax-News.com: UAE Explains Updated Economic Substance Rules By www.tax-news.com Published On :: Mon, 5 Oct 2020 00:00:00 GMT The United Arab Emirates Ministry of Finance has highlighted changes made to the territory's rules on economic substance. Full Article
news Tax-News.com: Cyprus Government Fails To Pass Budget By www.tax-news.com Published On :: Tue, 22 Dec 2020 00:00:00 GMT Lawmakers in Cyprus have rejected the 2021 Budget, for the first time in the country's history. Full Article
news Tax-News.com: Dutch Senate Approves 2021 Tax Changes By www.tax-news.com Published On :: Tue, 22 Dec 2020 00:00:00 GMT The Dutch Senate has approved the 2021 Tax Plan package, which introduces a lower rate of corporate tax for small- and medium-sized businesses. Full Article
news Tax-News.com: Russian Duma Approves Changes To Luxembourg And Cyprus DTAs By www.tax-news.com Published On :: Fri, 1 Jan 2021 00:00:00 GMT At its December 22 plenum, Russia's lower house of parliament approved revisions to the country's double tax agreements with Cyprus and Luxembourg. Full Article
news Tax-News.com: Hong Kong Provides Tax Concessions For Carried Interest By www.tax-news.com Published On :: Wed, 3 Mar 2021 00:00:00 GMT The Hong Kong Government has gazetted legislation to provide tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong. Full Article
news Tax-News.com: Belgian Lawmakers Approve New Tax On Securities Trading By www.tax-news.com Published On :: Mon, 22 Feb 2021 00:00:00 GMT At a plenary session on February 11, 2021, Belgium's parliament adopted a draft law for a new annual tax on securities accounts. Full Article
news Tax-News.com: Singapore Expands Business Tax Support Schemes In 2021 Budget By www.tax-news.com Published On :: Mon, 22 Feb 2021 00:00:00 GMT Singapore announced the extension of a number of support measures for businesses in its 2021 Budget, released on February 16, 2021. Full Article
news Tax-News.com: Singapore Issues Corporate Tax Return Filing Guidance By www.tax-news.com Published On :: Wed, 9 Jun 2021 00:00:00 GMT The Inland Revenue Authority of Singapore has released guidance for companies on filing a corporate income tax return this year. Full Article
news Tax-News.com: EU Seeks Input On New Withholding Tax Directive By www.tax-news.com Published On :: Mon, 4 Oct 2021 00:00:00 GMT On September 28, 2021, the European Commission launched a consultation on a proposed Directive that would obligate member states to introduce the same rules regarding withholding tax on dividend and interest payments. Full Article
news Tax-News.com: Philippines DOF Says Wealth Tax Plan Would Be Self-Defeating By www.tax-news.com Published On :: Mon, 6 Dec 2021 00:00:00 GMT The Philippines Department of Finance has issued a statement warning against the introduction of a new tax on the super wealthy. Full Article
news Tax-News.com: Cyprus Receives EU Approval For Angel Investor Tax Breaks By www.tax-news.com Published On :: Wed, 16 Feb 2022 00:00:00 GMT The European Commission has approved a Cypriot scheme involving the grant of tax breaks to private investors – both natural persons and corporate investors – who invest into early-stage, innovative SMEs. Full Article
news Tax-News.com: Cambodia Again Delays Capital Gains Tax Plans By www.tax-news.com Published On :: Mon, 21 Mar 2022 00:00:00 GMT Authorities in Cambodia have announced a further two-year delay to the implementation of a capital gains tax. Full Article
news Tax-News.com: OECD Releases Taxing Wages 2020 Report By www.tax-news.com Published On :: Fri, 15 May 2020 00:00:00 GMT The OECD has released its Taxing Wages 2020 report, which highlights that taxes on labor across the OECD countries fell for the sixth consecutive year in 2019. Full Article
news Tax-News.com: Italian Tax Agency Summarizes New COVID-19 Tax Support Measures By www.tax-news.com Published On :: Thu, 28 May 2020 00:00:00 GMT On May 21, 2020, the Italian Revenue Agency issued a summary of additional tax measures in Decree 34/2020, which are intended to further support taxpayers affected by the COVID-19 virus. Full Article
news Tax-News.com: EU Approves Italian COVID-19 Tax Breaks By www.tax-news.com Published On :: Fri, 3 Jul 2020 00:00:00 GMT The European Commission has approved under state aid rules four Italian tax schemes to support companies and self-employed workers affected by the coronavirus outbreak. Full Article
news Tax-News.com: Austria And Italy Sign Frontier Worker Tax Agreement By www.tax-news.com Published On :: Fri, 10 Jul 2020 00:00:00 GMT Austria and Italy have signed an agreement clarifying the tax rules for frontier workers who are working at home due to the COVID-19 pandemic. Full Article
news Tax-News.com: Italy Explains Tax Break For COVID-19 Changes To Workplaces By www.tax-news.com Published On :: Fri, 17 Jul 2020 00:00:00 GMT On July 10, 2020, the Italian tax authority issued a ruling to explain the rules concerning tax credits for expenditure on adapting workplaces to prevent the spread of COVID-19. Full Article
news Tax-News.com: Italy To Extend VAT Split Payment Mechanism For B2G Supplies By www.tax-news.com Published On :: Fri, 31 Jul 2020 00:00:00 GMT On July 24, 2020, a Council Implementing Decision was published in the official journal of the European Union authorizing the extension of Italy's value-added tax split payment mechanism scheme, applicable to contracts with public sector entities. Full Article
news Tax-News.com: COVID-19: Italian Firms Allowed More Time To Pay Deferred Taxes By www.tax-news.com Published On :: Tue, 18 Aug 2020 00:00:00 GMT The Italian Government will allow tax payments that were deferred during the COVID-19 lockdown to be paid in instalments over a two-year period. Full Article
news Tax-News.com: EU Pressures Italy To End Tax Exemptions For Ports By www.tax-news.com Published On :: Thu, 10 Dec 2020 00:00:00 GMT On December 4, 2020, the European Commission said that Italy must abolish its corporate tax exemptions for ports in order to align its tax regime with EU state aid rules. Full Article
news Tax-News.com: Switzerland, Italy Agree Tax Deal For Frontier Workers By www.tax-news.com Published On :: Fri, 1 Jan 2021 00:00:00 GMT On December 23, 2020, Switzerland and Italy signed a new agreement on the taxation of cross-border commuters and an amendment to their existing double taxation agreement. Full Article
news Tax-News.com: OECD Reports Solid Progress On BEPS Action 5 And 14 By www.tax-news.com Published On :: Wed, 16 Feb 2022 00:00:00 GMT The OECD/G20 Inclusive Framework on BEPS has published the outcome of more reviews into territories' preferential tax regimes and on tax dispute resolution through the Mutual Agreement Procedure. Full Article
news Tax-News.com: Hong Kong Lawmakers Endorse CIT Cut For Insurers By www.tax-news.com Published On :: Fri, 17 Jul 2020 00:00:00 GMT Hong Kong's Legislative Council has passed a bill to reduce the profits tax for certain insurance businesses. Full Article
news Tax-News.com: Hong Kong Provides Tax Concessions For Carried Interest By www.tax-news.com Published On :: Wed, 3 Mar 2021 00:00:00 GMT The Hong Kong Government has gazetted legislation to provide tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong. Full Article
news Tax-News.com: Hong Kong Announces Tax Relief In 2021-22 Budget By www.tax-news.com Published On :: Wed, 3 Mar 2021 00:00:00 GMT Hong Kong will grant taxpayers a waiver of up to HKD10,000 (USD1,290) of profits tax, salaries tax, and tax under personal assessment, the territory announced in its 2021-22 Budget. Full Article
news Tax-News.com: Hong Kong Adopts Law To Cut Stamp Duty Rates By www.tax-news.com Published On :: Fri, 19 Mar 2021 00:00:00 GMT Hong Kong has passed legislation to abolish the doubled ad valorem stamp duty rates applicable to non-residential property transactions with effect from November 26, 2020. Full Article
news Tax-News.com: Hong Kong Tables Tax Law Administration Bill By www.tax-news.com Published On :: Thu, 25 Mar 2021 00:00:00 GMT Hong Kong tabled the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 in parliament on March 24. Full Article
news Tax-News.com: Hong Kong Issues 2020-21 Tax Returns By www.tax-news.com Published On :: Tue, 6 Apr 2021 00:00:00 GMT On April 1, 2021, the Hong Kong Inland Revenue Department began issuing profits tax, property tax, and employer's returns for the year of assessment 2020-21. Full Article
news Tax-News.com: Hong Kong Issues Tax Returns For Individuals By www.tax-news.com Published On :: Wed, 12 May 2021 00:00:00 GMT On May 3, 2021, the Hong Kong Inland Revenue Department issued over 2.62 million tax returns for individuals for the year of assessment 2020-21. Full Article
news Tax-News.com: Hong Kong Enhances Tax Rules For Amalgamations By www.tax-news.com Published On :: Wed, 9 Jun 2021 00:00:00 GMT Hong Kong's Legislative Council has passed a bill to implement a series of amendments to the Inland Revenue Ordinance. Full Article
news Tax-News.com: Hong Kong Again Slashes Interest On Early Tax Payments By www.tax-news.com Published On :: Wed, 9 Jun 2021 00:00:00 GMT The Hong Kong Inland Revenue Department has announced a further reduction to the interest rate payable on Tax Reserve Certificates. Full Article
news Tax-News.com: Hong Kong, Georgia Tax Deal To Enter Into Force By www.tax-news.com Published On :: Fri, 6 Aug 2021 00:00:00 GMT The Hong Kong Government has announced that the comprehensive double tax agreement it signed with Georgia last year will enter into force on July 1. Full Article
news Tax-News.com: Hong Kong Explains COVID-19 Reliefs For Tax Debtors By www.tax-news.com Published On :: Fri, 6 Aug 2021 00:00:00 GMT Hong Kong's Inland Revenue Department has explained COVID-19 tax concessions available for taxpayers struggling to pay their tax dues and has highlighted upcoming property tax obligations. Full Article
news Tax-News.com: Hong Kong Sets Out Response To Int'l Tax Reform Plans By www.tax-news.com Published On :: Fri, 6 Aug 2021 00:00:00 GMT Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, has set out how the territory intends to respond to the OECD's proposed new international tax framework. Full Article
news Tax-News.com: Hong Kong Discusses US Termination Of Shipping Tax Pact By www.tax-news.com Published On :: Wed, 25 Aug 2021 00:00:00 GMT The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories' agreement that exempted shipping industry income from tax. Full Article
news Tax-News.com: Hong Kong To Amend Tax Rules For Foreign-Source Passive Income By www.tax-news.com Published On :: Mon, 1 Nov 2021 00:00:00 GMT The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories. Full Article
news Tax-News.com: Hong Kong Reviewing Tax-Privileged Retirement Products By www.tax-news.com Published On :: Wed, 5 Jan 2022 00:00:00 GMT Authorities in Hong Kong have launched a review into two tax-deductible retirement savings products: Qualifying Deferred Annuity Policies (QDAP) and Mandatory Provident Fund (MPF) Tax-Deductible Voluntary Contributions (TVC). Full Article
news Tax-News.com: OECD Reports Solid Progress On BEPS Action 5 And 14 By www.tax-news.com Published On :: Wed, 16 Feb 2022 00:00:00 GMT The OECD/G20 Inclusive Framework on BEPS has published the outcome of more reviews into territories' preferential tax regimes and on tax dispute resolution through the Mutual Agreement Procedure. Full Article
news Tax-News.com: Australia Flags Contrived Tax Avoidance Arrangement By www.tax-news.com Published On :: Thu, 28 May 2020 00:00:00 GMT The Australian Taxation Office has issued a Taxpayer Alert on mischaracterized arrangements and schemes connected with direct foreign investment into Australian businesses. Full Article
news Tax-News.com: Australia To Shutter 'Harmful' Offshore Banking Unit Regime By www.tax-news.com Published On :: Fri, 19 Mar 2021 00:00:00 GMT The Australian Government has confirmed that it will amend its offshore banking unit regime after it was designated a harmful tax regime by the OECD and the European Union. Full Article
news Tax-News.com: Australian Tax Agency Announces Virtual Currency Tax Focus By www.tax-news.com Published On :: Wed, 9 Jun 2021 00:00:00 GMT The Australian Taxation Office has expressed its concern that some taxpayers do not fully understand the tax implications of cryptocurrency gains. Full Article
news Tax-News.com: Switzerland Opens COVID-19 Loan Guarantee Scheme For Start-Ups By www.tax-news.com Published On :: Fri, 15 May 2020 00:00:00 GMT The Swiss Government has opened the application process for a loan guarantee scheme aimed at helping start-ups facing liquidity problems during the coronavirus outbreak. Full Article
news Tax-News.com: Switzerland Launches New Tax Burden Calculation Tool By www.tax-news.com Published On :: Thu, 28 May 2020 00:00:00 GMT The Swiss Federal Department of Finance has announced the launch of a new online tool for individuals taxpayers, which is being developed also for legal entities. Full Article
news Tax-News.com: Switzerland To Amend Tax E-Filing Obligations By www.tax-news.com Published On :: Thu, 28 May 2020 00:00:00 GMT The Swiss Federal Council intends to end the obligation to sign electronic tax returns and to introduce new e-filing requirements for certain documents. Full Article