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Tax-News.com: Cyprus, Saudi Arabia Negotiate Double Tax Agreement

Cyprus's Ministry of Finance says the island has signed a double tax agreement with Saudi Arabia with respect to taxes on income and for the prevention of tax evasion.




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Tax-News.com: Fraud At Record Levels, New BDO Report Says

BDO, the accountancy and business advisory firm, has released a report into the rapidly growing issue businesses and governments face with fraud, including tax fraud.




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Tax-News.com: Macau To Sign OECD Multilateral Information Exchange Treaty

Macau's Chief Executive has issued an order authorizing signature of the OECD Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information.




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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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New Drug Downs The Spread of Influenza Causing Virus

Baloxavir with trade name Xofluza, is the first treatment for influenza with a new mechanism of "action" to be licensed in around 20 years. It was already




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PCSK9 Inhibitor With Statin Does Not Cause Loss in Memory, Mental Skills in High-risk Patients: Study

In heart disease patients, taking evolocumab in addition to a statin to achieve extremely low levels of cholesterol do not show higher incidence of neurocognitive




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Olanzapine Reduces Nausea, Vomiting Among Cancer Patients

Olanzapine decreases the risk of nausea and vomiting among patients with advanced cancer, according to the study published in iJAMA Oncology/i. Charles Loprinzi, M.




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Tax-News.com: Italy Launches Consultation On Patent Box Rules

On February 10, 2020, the Italian tax agency commenced a short consultation on the rules surrounding the patent box self-assessment regime.




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Tax-News.com: Slovenia To Launch VAT Probe Into Consignees

The Slovenian tax authority announced on July 9, 2019, that it will increase tax compliance checks on companies carrying out certain services for foreign e-commerce platforms to ensure they are charging VAT when required.




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Tax-News.com: Mauritius Gazettes Budget Tax Measures

Mauritius has published in its Official Gazette legislation to enact measures announced in the territory's latest Budget, contained in The Finance (Miscellaneous Provisions) Act 2019.




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Tax-News.com: Austrian Parliament Approves Digital Tax

On September 19, 2019, the lower house of the Austrian parliament approved the first part of a package of tax reforms that will introduce a digital tax as well as bring about changes to certain value-added tax rules.




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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: IRS Launches Gig Economy Tax Center

On January 9, 2019, the United States Internal Revenue Service announced the launch of a new Gig Economy Tax Center, which is intended to help taxpayers meet their tax obligations through more streamlined information.




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Tax-News.com: Malta Launches Tax Breaks For Pension Contributions

Malta's Minister for Finance, Edward Scicluna, recently announced the launch of a number of fiscal incentives, which are intended to boost the take-up of voluntary private pensions.




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Tax-News.com: EU VAT Gap Release Falls Ahead Of New Anti-Fraud Action

The European Union value-added tax gap – the overall difference between expected VAT revenue and actual EU member state collections – was EUR152bn in 2015, says the European Commission, highlighting the need for further reforms to tackle avoidance, error, and evasion.




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Tax-News.com: Malta Updates Guidelines On Automatic Exchange Of Account Info

Malta's Commissioner for Revenue on January 2, 2020, issued a single set of guidelines on the automatic exchange of financial account information.




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Tax-News.com: Austria Rejects German Financial Transactions Tax Plan

Austrian Chancellor Sebastian Kurz has said that Austria does not agree with new German proposals for a European financial transactions tax.




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Tax-News.com: Austria May Pull Out Of European Financial Transactions Tax Talks

On February 19, 2020, German Finance Minister Olaf Scholz issued a statement to say that he remains "committed" to the introduction of a financial transactions tax at European Union level along the same lines as that proposed by the German Government last month, despite opposition from within the EU, notably from Austria.




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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.




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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.




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Tax-News.com: UAE VAT Authority Addresses Compliance Matters

The UAE's Federal Tax Authority has newly launched a number of VAT compliance tools and further confirmed how the value-added tax regime, introduced at the start of the year, should operate.




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Tax-News.com: UAE Tax Authority To Waive Late VAT Registration Penalties

The UAE's Federal Tax Authority has announced that it will waive late registration penalties for businesses that have not yet registered for VAT, on the condition that they do so by April 30 of this year.




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Tax-News.com: Australian Exporters Making The Most Of FTAs

Australia's free trade agreements are being widely used by Australian businesses, according to a new report commissioned by the Government.




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Tax-News.com: Latest Australia-Japan FTA Tariff Cuts In Force

The fifth round of tariff cuts under the Japan-Australia Economic Partnership Agreement have entered into force.




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Overeating - Not Lack of Exercise - Could be the Root Cause of Obesity

Highlights: Eating too much - not exercising too little - is at the root of obesity It is also responsible




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Autism Risk Can Now be Predicted by Sperm Analysis

Highlights: Risk of autism can now be predicted by analyzing the sperms of prospective fathers Mutations




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Tax-News.com: IRS Launches Gig Economy Tax Center

On January 9, 2019, the United States Internal Revenue Service announced the launch of a new Gig Economy Tax Center, which is intended to help taxpayers meet their tax obligations through more streamlined information.




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Tax-News.com: IRS Launches COVID-19 Employee Retention Tax Credit

On March 31, 2020, the United States Treasury Department and the Internal Revenue Service launched the Employee Retention Credit scheme, designed to encourage businesses to keep employees on their payroll amid the COVID-19 crisis.




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Tax-News.com: EU Auditors Concerned By Customs Tax Loopholes

EU customs controls are not being applied effectively, an EU audit has found, with importers able to take advantage of loopholes to reduce or evade their duty liabilities.




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Tax-News.com: Dassault Responds To Paradise Paper Leaks

French aircraft manufacturer Dassault Aviation has issued a statement on its tax arrangements in response to media coverage of the so-called "Paradise Papers."




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Tax-News.com: Isle Of Man To Introduce New VAT Fraud Penalty

The Isle of Man Treasury has announced that a new 30 percent penalty for participation in VAT fraud will be introduced from March 1, 2018.




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Tax-News.com: Australia To Improve Division 7A Tax Rules For Shareholders

The Australian Government is to simplify taxpayers' compliance with rules designed to prevent shareholders from using private company profits without paying tax at their marginal rates.




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Tax-News.com: Australian SME Tax Cuts Now Law

Legislation to reduce Australia's small business tax rate received Royal Assent on October 25.




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Tax-News.com: Australian Tax Office Expands Data Matching Program

The Australian Taxation Office has announced that it is expanding its data matching program to focus on information it receives from partner organizations on shares held by taxpayers.




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Tax-News.com: Australia Consults On Tax Implications Of Insurance Law Reform

The Australian Government is consulting on the tax implications of a new accounting standard for insurance contracts.




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Tax-News.com: Only Tax-Compliant Firms To Be Allowed Australian Gov't Contracts

Australia is to require businesses seeking to tender for significant federal government procurement contracts to demonstrate their record of tax compliance.




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Tax-News.com: Australian Regulator Flags Important Accounting Standard Changes

The Australian Securities and Investments Commission has highlighted the significant impact that recent accounting standard changes will have for financial reports that must be prepared for the year to December 31, 2018, and second quarter reports.




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Tax-News.com: Australia Explains Tax Disclosure Obligation On Largest Firms

The Australian Taxation Office has issued an e-brief on how companies can assess if they are required to submit a reportable tax position schedule.




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Tax-News.com: Australia Warns On Real Estate GST Non-Compliance

The Australian Taxation Office said that it has noticed a number of common errors being made in activity statements since the "goods and services tax at settlement" system was introduced for the real estate industry in July 2018.




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Tax-News.com: Australia Toughens Tax Rules For Procurement Bids

The Australian Government is to implement a new government procurement process that will require the tenderer's tax record to be taken into account.




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Tax-News.com: Australia Brings Forward Personal Income Tax Reform In 2019 Budget

Australian Treasurer Josh Frydenberg has announced that the Government will bring forward the start date for its package of income tax cuts.




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Tax-News.com: Australia Explains Early Intervention Program

The Australian Taxation Office has explained how its Early Intervention Strategy helps it to identify tax agents at risk of non-compliance.




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Tax-News.com: Australia Issues Ruling On Hybrid Mismatch Rules

The Australian Taxation Office has opened a consultation on a draft Law Companion Ruling on the targeted integrity rule that will apply under the new hybrid mismatch regime.




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Tax-News.com: Australia Explains End-Of-Year Reporting Under STP

The Australian Taxation Office has issued guidance on how employers can prepare for end-of-year reporting under the new Single Touch Payroll system.




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Tax-News.com: Australia Clarifies Effective Life Of Depreciable Assets

The Australian Taxation Office has released a new ruling on how to calculate the effective life of depreciating assets for income tax purposes, in Taxation Ruling (TR) 2019/5, which is applicable from July 1, 2019.




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Tax-News.com: Australia May Make Directors Liable For Unpaid GST In Folded Companies

Legislation before Australia's parliament would make company directors liable for a failed company's GST liabilities in certain circumstances.




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Tax-News.com: Australian High Court Allows Use Of Leaked Data In Tax Probes

The Australian Taxation Office has welcomed a significant ruling from Australia's High Court, which enables the tax agency to use information obtained from data leaks, even if leaked from a law firm.




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Tax-News.com: Glencore Wins AUD92m Transfer Pricing Case In Australia

Australia's Federal Court issued a decision in favor of mining company Glencore on September 3, 2019. The case centered on whether dealings between Swiss parent Glencore International AG and an Australian subsidiary breached transfer pricing rules in relation to the sale and purchase of copper concentrate in the 2007-09 years.




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Tax-News.com: Australian Tax Changes For Self-Managed Super Funds Effective

Australia has enacted new integrity measures included in the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 affecting self-managed super funds.




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Tax-News.com: Australia Announces CbC Reporting Changes

The Australian Taxation Office has announced changes to its CbC reporting system following feedback from multinational groups.