com

Tax-News.com: French Workers In 'Third Countries' Liable For Social Security

Income from assets of French nationals who work in a state other than a member state of the EU, the European Economic Area or Switzerland may be subject to French social security contributions, the European Court of Justice has ruled.




com

Tax-News.com: US Slaps 'America First' Duties On Foreign Solar Goods, Washers

US President Donald Trump has approved safeguard tariffs on imported large residential washing machines and imported solar cells and modules.




com

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.




com

Tax-News.com: China 'Has Slashed Business Taxes By CNY2.5tn Since 2012'

The Chinese tax administration has reported that businesses have saved CNY2 trillion (USD317.8bn) following the replacement of business tax with value-added tax, beginning in 2012.




com

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.




com

Tax-News.com: First Chinese 'Environment Tax' Reports Due April 1

About 260,000 businesses with operations in China will begin to be assessed for liability to the country's new environmental tax starting next month.




com

Tax-News.com: EU Extends Anti-Dumping Tariffs On Chinese Steel

The EU is to apply existing anti-dumping measures on Chinese imports of seamless pipes and tubes of stainless steel for another five years.




com

Tax-News.com: China Will Open Up To Foreign Investment, Lower Import Tariffs

China plans to actively expand imports and open up to foreign investment by reducing tariffs and taxes, according to a work report released by the Government ahead of the annual parliamentary session.




com

Tax-News.com: Chinese Property Tax On The Cards

Chinese authorities are working on a long-awaited property tax to cool the country's overheated property market, according to a senior government official.




com

Tax-News.com: Denmark Tops Tax Burden League Table

Denmark was found to have the heaviest burden of taxation as a percentage of the economy in a new study by accountancy firm UHY.




com

Tax-News.com: UK Updates VAT Guidance For Online Marketplaces

HM Revenue and Customs has updated its value-added tax guidance for online marketplaces and for suppliers using them to sell to UK consumers.




com

Tax-News.com: First Deadline For Chinese Environmental Tax Approaching

The first returns under China's new environmental tax are due online by April 1, 2018.




com

Tax-News.com: China's New FM Confirms Tax Cut Plans

China's new Finance Minister, Liu Kun, has announced plans to reform the nation's taxation system, including value-added tax rate reductions.




com

Tax-News.com: China Cuts VAT To Fuel Economic Growth

China's State Council has announced a cut in value added tax rates as part of a CNY400bn (USD63bn) tax reduction package to stimulate growth.




com

Tax-News.com: OECD Releases More Transfer Pricing Country Guides

The OECD has published new transfer pricing country profiles for Australia, China, Estonia, France, Georgia, Hungary, India, Israel, Liechtenstein, Norway, Poland, Portugal, Sweden, and Uruguay, bringing the number of such overviews published by the OECD to 44.




com

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.




com

Tax-News.com: China Pledges Tax Support For 'Belt And Road Territories'

The tax agencies of China and Kazakhstan, with involvement also from the OECD, hosted a three-day tax conference to discuss the provision of capacity building support from China for those countries that will be involved in China's Belt and Road Initiative. It was attended by more than 250 delegates from 49 tax administrations, four international organizations, and five academic institutions.




com

Tax-News.com: Global Carbon Tax Take Up 50 Percent In 2017

Governments raised about USD33bn in carbon pricing revenue last year, a 50 percent increase from 2016, according to a new update by the World Bank.




com

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.




com

Tax-News.com: At UN General Assembly, OECD Urges Global Carbon Tax Action

Three years on from the commitments made at the 2015 United Nations Climate Change Conference (COP21) in Paris, the overwhelming majority of governments have not taken the necessary action to contain growing risks to the climate, says the OECD. It said, with emissions on the rise again, OECD governments need to get serious about shifting their economies to a low-carbon model and stop investing in carbon-intensive infrastructure.




com

Tax-News.com: OECD Seeks Feedback On Dispute Resolution In Ten Jurisdictions

The OECD has requested stakeholders' input on the dispute resolution processes in place in Andorra, Anguilla, Bahamas, Bermuda, the British Virgin Islands, the Cayman Islands, the Faroe Islands, Macau (China), Morocco, and Tunisia.




com

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.




com

Tax-News.com: Eight States' Tax Transparency Frameworks Reviewed

The OECD Global Forum has released eight peer review reports, for Brunei, Macau, Switzerland, Barbados, the Seychelles, Liberia, Peru, and Tunisia, on the jurisdictions' efforts to adopt and comply with international tax standards on transparency and the exchange of tax-related information on request.




com

Sanofi Offers Promising Drug to Combat COVID-19

French pharmaceutical company Sanofi is ready to offer the French authorities, millions of doses of Plaquenil containing hydroxychloroquine, to treat




com

Vericiguat Drug may Improve Outcomes in Patients with Worsening Heart Failure

An investigational drug vericiguat offers new hope for patients with worsening heart failure, reports a new study. Patients with worsening heart failure




com

Newer Drug Reduces Pulmonary Complications

Improved outcomes of newer drug in some patients could be due to a more complete reversal of the effects of muscle relaxants used during surgery. The




com

Convalescent Plasma to Help Combat COVID-19

Scientists are working to collecting and using convalescent plasma to develop a passive immunization program to treat patients hospitalized for COVID-19.




com

Tax-News.com: EU Tells Italy To Revise 2019 Budget Plan

On October 23, 2018, the European Commission issued a request to the Italian Government that it revise its draft budgetary plan for 2019 because it breaches European Union fiscal rules.




com

Tax-News.com: Italy Lists Companies Covered By VAT Split Payment Regime

The Italian Department of Finance has released new lists of government and private sector entities covered by Italy's split-payment mechanism.




com

Tax-News.com: Italy Finalizes Rules For New Patent Box Regime

Italy's tax agency on July 30, 2019, published a definitive version of the rules for the operation of the country's patent box regime.




com

Tax-News.com: Italy May Probe Netflix's Tax Affairs

Milan's Public Prosecutor's Office has launched an investigation into whether Netflix owes tax in Italy, Italian daily Corriere Della Sera reported October 3, 2019.




com

Tax-News.com: Italian Government Approves Draft Budget

On October 16, 2019, the Italian Council of Ministers approved the draft Budget law for 2020, which will prevent an automatic rise in the rate of value-added tax, and includes further measures designed to combat tax avoidance and evasion.




com

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.




com

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.




com

Tax-News.com: EU Invites Comments On Italian Port Taxation

An invitation to submit comments with regards to the corporate tax exemption provided to ports in Italy was published in the January 10, 2020, issue of the Official Journal of the European Union.




com

Tax-News.com: Italy Releases Tax Forms And Instructions For 2020

On January 31, 2020, the Italian Revenue Agency released instructions on how companies, individuals, corporate groups, and partnerships can comply with their tax return filing obligations during 2020.




com

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.




com

Tax-News.com: Italy Publishes Annual VAT Return In English

On March 4, 2020, the Italian tax authority published English language versions of the annual value-added tax form for 2020, together with instructions.




com

Tax-News.com: Italy Suspends Tax Assessments Over COVID-19

On March 12, 2020, the Italian Revenue Agency announced the suspension of its audit activities in light of the COVID-19 outbreak.




com

Tax-News.com: NZ Opposition Eyeing Corporate Tax Cut Election Pledge

New Zealand's opposition National Party has released its plans for tax reform, announcing it would review whether to lower the corporate tax rate.




com

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.




com

Tax-News.com: Netherlands To Reduce Tax On Savings Income

On September 6, 2019, the Dutch Ministry of Finance announced proposals to reforms the tax rules for savings income.




com

Tax-News.com: Indonesia Explains New Dividend Tax Exemptions

Following the release of the 2020 Budget, the Indonesian Government has explained in greater detail its plans to reform the tax code to foster increased investment by foreign and domestic businesses.




com

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.




com

Tax-News.com: IRS Offers Settlement Scheme To Micro-Captives

On September 16, 2019, the United States Internal Revenue Service announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.




com

Tax-News.com: Germany Proposes Climate Change Tax Plan

On September 16, 2019, the German conservative parties, the Christian Democrats and the Christian Social Union, published a report calling for reform of environmental taxes and levies to help Germany achieve its emissions reductions targets.




com

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.




com

Tax-News.com: Algeria Releases 2020 Draft Budget

Algeria has released its draft Budget Law for 2020, including proposals for a number of tax reliefs.




com

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.




com

Tax-News.com: New Zealand Adds To Real Property Tax Reform Plans

New Zealand has released a new consultation on proposals to further clarify the deductibility of holding costs (rates, interest, insurance, etc.) where land that is subject to tax on sale is used privately while it is held.