International Tax News Brazil Extends Repetro Tax Regime
Brazil has extended concessionary tax arrangements for oil and natural gas exploration companies to 2040. Ireland Found 'Compliant' With Tax Transparency Standards
The OECD has rated Ireland compliant with international standards on tax transparency. Alberta Appeals Ruling That Beer Tax Violates Trade Rules
The Alberta Government has announced that it will appeal a ruling that its tax rebate program for small brewers violates the province's trade obligations. China Considering Dumping Duties On Brazilian Chicken Products
China's Commerce Ministry has initiated an investigation into alleged dumping of processed chicken from Brazil, following a complaint from the China Animal Agriculture Association. Companies Begin Paying Taiwan's New 'Netflix Tax'
Taiwan has said that a total of 45 overseas providers of electronic services have filed value-added tax returns in respect of electronic supplies to the domestic market, under the territory's new "Netflix tax." Court Rules In Favor Of Taxpayer In Canadian TP Audit Case
The Federal Court of Canada has ruled that the Canadian Revenue Agency may not conduct further in-person interviews with representatives from a multinational corporation concerning its transfer pricing affairs, having already discussed earlier tax years. Scotland Urged To Overhaul Commercial Property Taxes
A report commissioned by the Scottish Government has put forward 30 recommendations on reform of Scotland's business rates regime (commercial property tax). Canada Launches Resin Dumping Inquiry
The Canadian International Trade Tribunal has initiated a preliminary injury inquiry into the alleged dumping and subsidizing of plastics from China, India, Oman, and Pakistan. Vietnam Proposes Wide-Ranging Tax Reforms
Vietnam's Ministry of Finance has proposed a number of changes to the country's tax regime, including a hike in value-added tax, a new tax on sugary drinks, higher duties on tobacco products, a reduced corporate income tax rate, and revised personal income tax rates. Irish PM Says UK Brexit Deal Must Work For Ireland
Irish Prime Minister Leo Varadkar has said that the UK's decision to leave the EU "poses major economic and political challenges" for Ireland. Australian Bankers Threaten Court Case Over SA Tax
The Australian Bankers' Association has said that it will mount a High Court challenge to the South Australian Government's proposed bank levy, should the measure pass through parliament. HMRC Reports On Litigation Results Last Tax Year
HM Revenue and Customs, the UK tax authority, has published information on the outcome of litigation concluded in the 2016-17 tax year against tax avoidance arrangements. Second Mexican State To Introduce Airbnb Tax
Quintana Roo will become the second state in Mexico after Mexico City to introduce a tax on Airbnb reservations. Croatia, New Zealand Eye Double Tax Avoidance Deal
Croatia and New Zealand have agreed that they should negotiate an agreement on the avoidance of double taxation. Taiwan Warns Taxpayers To Declare Overseas Income
Taiwan's Ministry of Finance has warned that taxpayers who fail to declare overseas income face fines of up to three times the tax evaded. UAE President Issues Excise Tax Decree
President of the United Arab Emirates, Khalifa bin Zayed Al Nahyan, on August 21 issued a Federal Decree on Excise Tax, with the levy to be imposed on selected products, including tobacco products, some types of soft drink, and energy drinks. UK Private Hospitals 'Benefit From Tax Windfall'
The UK Government is facing calls to address imbalances in the business rates system that mean National Health Service Trusts are taxed more than many private hospitals. Hong Kong Plans Tax Breaks For Innovative Firms
Hong Kong Chief Executive Carrie Lam is set to announce new tax incentives to boost the innovation and technology sector in her October Policy Address. OECD Global Forum Moving On To Beneficial Ownership
The OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes has published the first 10 outcomes of a new and enhanced peer review process for assessing compliance with international tax transparency standards. China Must Make Its Tax System More Progressive: IMF
China should make its tax system more progressive and fairer for lower earners, the International Monetary Fund said. Czech Budget Watchdog Slams Tax Administration
The personal income tax code of the Czech Republic has become increasingly complex, with the Government often failing to consider the full outcome of legislative changes to the tax system, according to the country's Supreme Audit Office. Flood-Hit Bangladesh Slashes Rice Import Duties
Following further flash flooding, the Government of Bangladesh has announced that import duty on rice will be reduced to two percent. Indian FM Wants To Alleviate VAT Burden For Manufacturers
India's Finance Minister, Arun Jaitley, on August 18 wrote to state chief ministers to urge them to reduce the indirect tax burden on manufacturers. Canadian Firms Oppose Govt's New Tax Changes
The Canadian Government's planned crackdown on tax planning strategies that involve private corporations could result in significant tax increases that negatively affect entrepreneurs, according to the Society of Trust and Estate Practitioners Canada. NZ Releases Tax Guide On Backdated Holiday Pay
New Zealand's Inland Revenue has issued guidance to employers on how a backdated payment to correct errors in holiday pay is to be treated for tax purposes. Dominican Republic Needs Tightened Tax Regime: IMF
The Dominican Republic needs to agree a medium-term plan to increase the amount of tax revenue it is able to collect, while providing a more certain tax regime for taxpayers, the International Monetary Fund said. As Talks Start, NAFTA Border States Urge Compromise
Mayors from the border towns between the United States and Mexico, and the United States and Canada have called for a modernized North American Free Trade Agreement to remain in place. EU, Switzerland To Link Emissions Trading Systems
The European Commission and the Swiss Federal Council have each approved proposals to link their emissions trading systems, meaning formal signature of a new agreement could take place by the end of the year. Swiss Tax Planners Agree US Non-Prosecution Agreement
Swiss asset management firm Prime Partners has entered into a non-prosecution agreement with the US Attorney's Office, under which it will pay a USD5bn settlement. Diageo Reveals Tax Disputes In France, UK
Global beverages company Diageo has said that it is in discussions with the French and British tax authorities over the deductibility of interest costs and a Diverted Profits Tax liability.
Feed Fetched by RSS Dog.