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Tax-News.com: Turkey Props Up Airlines Impacted By COVID-19 With VAT Relief

On March 23, 2020, the Turkish Government published a resolution in the official gazette to temporarily reduce the rate of VAT on air passenger transport to one percent.




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Tax-News.com: OECD Reports On Countries' Tax Reforms In 2016

On September 13, the OECD launched a substantial report on the tax policy reforms implemented last year by advanced nations.




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Tax-News.com: South African Tax Man Stresses Integrity Of Tax Refund System

The South African Revenue Service announced on October 30 that it had paid over ZAR120bn (USD8.4bn) in refunds across all tax types in the last seven months, from the beginning of April of the tax season to date.




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Tax-News.com: SARS Announces Temporary Relief From New CFC Reporting Rules

The South African Revenue Service has announced that it will temporarily permit taxpayers to report information on controlled foreign corporations under the old filing rules, which were replaced in February.




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Tax-News.com: OECD Urges International Tax Reform Of Savings, Investments

"While countries do not necessarily need to tax savings more, there is a lot of room to improve the way countries tax savings," according to Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration.




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Franklin Templeton issues 'unconditional apology' to SEBI on global chief's comments

The fund house said the remarks made by Jenny Johnson, president and CEO, Franklin Templeton during their quarterly earnings call were quoted "out of context" by media outlets




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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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Rs 411 crore loan defaulters flee country, SBI complains to CBI after 4 years

The CBI had recently booked Ram Dev International and its directors Naresh Kumar, Suresh Kumar and Sangita, for defrauding Rs 414 crore




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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: 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: 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: 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: 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 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: 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: Malaysia's 2018 Budget Includes Various Tax Relief Changes

The Malaysian Government in its Budget 2018 announced numerous tax changes, including an income tax cut, incentives for women to return to work, and tax relief for property investors and venture capital firms.




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Tax-News.com: Malaysia PM Defends Introduction Of GST

Prime Minister Najib Razak has defended the Government's decision to introduce a goods and services tax, claiming that the levy "saved" Malaysia from the fall in oil prices.




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Tax-News.com: IMF Proposes Reforms For Belgium

Belgium should look to broaden its tax base to fund labor tax reductions, the International Monetary Fund has said in its annual report for the country.




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Tax-News.com: DeFazio Tables US Anti-Profit Shifting Bill

US congressman Peter DeFazio (D-OR) has introduced legislation designed to amend the Tax Cuts and Jobs Act so that incentives for US corporations to shift income and production overseas are reduced.




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Tax-News.com: Australian Tax Changes Effective From July 1

The Australian Government has set out the numerous changes made to the tax system on July 1 and launched a consultation on new tax rules for "stapled structures."




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Tax-News.com: BEPS Project Has Triggered Near-Global Tax Reform: OECD

The OECD has committed to providing proposals to fix the taxation of the digital economy by 2020, in an update to G20 leaders on international efforts to mitigate base erosion and profit shifting (BEPS).




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Tax-News.com: UK Announces Digital Tax, Corporate Tax Reforms In New Budget

The UK's 2018 Budget includes changes to tax rules for companies, and notably for multinational groups to conform with the EU's Anti Tax Avoidance Directive. Most significantly, the UK has decided to move ahead of the EU in announcing that it will apply a tax on the turnover of certain digital businesses.




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Tax-News.com: Malaysia Announces Corporate Tax, Sales Tax Reforms In Budget

Malaysia's 2019 Budget contains plans for an overhaul of sales and service tax rules and a corporate tax cut for small- and medium-sized enterprises.




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Tax-News.com: OECD Fleshes Out Int'l Tax Reform Plans During BEPS Webcast

During a webcast on June 11, the OECD provided a technical update on its work to develop new, modernized international tax rules for the digitalized economy.




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Tax-News.com: New Zealand To Remove Low-Value Consignment Relief

New Zealand is to introduce GST on low-value goods sold by overseas retailers from December 1, 2019.




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Nanoparticle Effectively Vaccinates Mice Against Dengue Fever

New type of nanoparticle developed by scientists effectively vaccinated mice against dengue virus. The findings of the study published in PLOS Neglected Tropical Diseases.




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Dengue Patients Should Defer from Donating Blood for 6-12 Months

People infected with dengue will not be allowed to donate blood for six months, as per the announcement of the Ministry of Health (MoH) and the Department




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Physical Activity Beneficial for Mental Well-Being in Postmenopausal Women

Highlights: Physical activity helps reduce depressive symptoms in postmenopausal women Postmenopausal w




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Tax-News.com: Canada To Legislate For Budget Tax Reforms

The Canadian Government is consulting on draft legislative proposals to implement a number of tax measures announced in the 2019 Budget.




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Tax-News.com: EU Criticizes France's Inefficient VAT System

The European Commission has released a paper recommending improvements to France's "inefficient" value-added tax system, including that the country do away with broadly applying reduced VAT rates.




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Tax-News.com: Cyprus, India Tax Treaty To Take Effect In 2017

The revised double tax avoidance agreement between India and Cyprus will take effect from April 1, 2017, India's Central Board of Direct Taxes has announced.




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Tax-News.com: EU Reports On States' Tax Reforms In 2017

The European Commission has released the 2017 edition of its survey of Tax Policies in the European Union, looking at the reforms undertaken by EU member states during the year.




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Tax-News.com: China Sets Out How To Determine Beneficial Owner For Treaties

On February 3, 2018, China's State Administration of Taxation set out new rules on the disallowance of tax treaty benefits where an entity fails to demonstrate it is the beneficial owner of Chinese assets from which passive income is derived.




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Tax-News.com: First Tax-Deferred Pension Scheme Launched In China

China's Government announced recently that a local insurance company had issued the country's first tax-deferred pension insurance policy, saying it marked the beginning of tax-deferred pension plans in China.




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Ritalin Directs Brain to Fix Attention on Benefits of Work

Ritalin and similar medications, commonly prescribed to patients with attention deficit hyperactivity disorder, also used by healthy people as a "study




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Solution to Life-threatening Side Effect Identified

Paracetamol, the commonly used painkiller, when administered intravenously, lowers blood pressure. The mechanism underlying this dangerous side effect has been identified.




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Ticagrelor Alone Provides Benefit in Diabetic Patients

Diabetic patients who stopped using aspirin three months post insertion of a coronary stent and then took the anti-platelet drug ticagrelor alone for




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Diabetes Drugs Effective in Reducing Heart, Kidney Disease

Two types of diabetes drugs namely SGLT2 inhibitors and GLP-1 drugs were effective in reducing heart complications including stroke, heart attack, and




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Teprotumumab, First FDA-approved Drug for Thyroid Eye Disease Proves Effective

Regardless of patient gender, age or smoking status, teprotumumab, the first FDA-approved drug for thyroid eye disease, provides significant improvement




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Less Expensive, More Effective Pneumonia Vaccines are Tested in Humans, Says Study

A new pneumonia vaccine that is more effective and less expensive than those currently used in Brazil is being tested in human patients, said researchers




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Life-threatening Side Effects of Hydroxychloroquine Revealed

Hydroxychloroquine shows weak evidence of its effectiveness against coronavirus in the new study. The drug has been identified by the US Food and




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New Drug Formulation Effectively Treats Candida Infections

Candidiasis treatment could be improved using new drug formulation. Specific chemical signal released from a bacterium can be used to improve the activity




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Tax-News.com: Italy To Support Armenia To Implement BEPS Reforms

Tax officials in Armenia are to receive support from the Italian Revenue Agency to implement initiatives to tackle tax base erosion and profit shifting.




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Tax-News.com: EFTA And Mercosur Blocs Conclude Free Trade Deal

The European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland) and the Mercosur group of countries (Argentina, Brazil, Paraguay, and Uruguay) concluded in substance a broad-based free trade agreement at the tenth round of negotiations from August 20 to 23, 2019.




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Tax-News.com: Philippines House Passes Financial Services Tax Reforms

The Philippines' House of Representatives on September 9, 2019, approved two bills to overhaul the rates in place on financial services and passive income.




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Tax-News.com: New Zealand Lining Up More Tax Relief For Fledgling Firms

The New Zealand Government has announced that it will adopt two tax incentives proposed by the Tax Working Group: a deduction for "feasibility expenditure" for businesses, and relaxed loss continuity rules.




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Tax-News.com: OECD To Provide Another Update On Int'l Tax Reform Work

The OECD has announced that the next Tax Talks webcast will be held on October 9. It will update stakeholders on its work to develop new international tax rules.