International updates - March 2018

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International updates - March 2018

International Updates

The latest international updates from our correspondents around the world.

Albania: Albania approves changes to accounting standards; introduces IFRS 15

Argentina: Argentine Congress passes comprehensive tax reform

Australia: Treaty benefits, DPT, MAAL and BEPS MLI

Brazil: Conversion into law of amendments to the oil and gas tax framework

Bulgaria: Changes in the Bulgarian Value Added Tax Act effective as of 2018

Canada: Application and interpretation of the principal purpose test

China: Tax treaty relief clarifications issued

Croatia: Double tax treaty between Croatia and Kosovo enters into force

Cyprus: Cyprus amends VAT; imposes 19% on sale of building land and leasing

Georgia: Georgia updates tax legislation

Germany: Lower tax court rules on direct shareholding requirement under EU PSD

Greece: Clarifications pending on the use of foreign terminal losses

Hong Kong: Hong Kong’s latest tax updates

India: Indian budget 2018-19; Recent rulings on the India-Mauritius treaty

Indonesia: Income tax facility in the industrial sector and draft of regulations on e-commerce tax

Ireland: Closing of the consultation on Ireland’s corporation tax code

Italy: Italian tax police, transfer pricing and business restructuring: still hot topics meriting inspection

Mexico: Lack of business purpose as factor in determining sham transactions

Poland: The CIT-8 return involving new transfer pricing obligations

Portugal: Personal income tax on cryptocurrencies: is the recent ruling a final take?

Serbia: Serbia narrows down list of services subject to withholding tax

South Africa: CBC reporting in South Africa - new guidelines and practical challenges

South Korea: New rights for taxpayers subjected to a dawn raid

Spain: How should irrevocable trusts be treated for Spanish tax purposes? Quick review of the Spanish tax agency approach

Switzerland: Beware of equity incentive reporting obligations in Switzerland

Turkey: Restrictions on foreign currency loans

US Outbound: BEAT to hit inbound taxpayers hard

US Outbound: New LB&I directives both change and clarify IRS transfer pricing procedures

more across site & shared bottom lb ros

More from across our site

The senior hire builds on the firm’s status as the joint most prolific US hirer in 2024; in other news, an ex-IRS chief counsel has joined Miller & Chevalier
Probationary workers at the agency are being cut, according to reports, with mass firings already taking place across the US
The change is understood to include enhancing information comparison
Taxpayers that operate internationally need to be better prepared for increased tax and TP scrutiny, one expert tells ITR
The Singapore boutique tax law firm’s chief told ITR of the ex-Baker McKenzie lawyers playing a role in the initiative as well as its desire to expand geographically
The new tax regime is a significant reform that will bolster India's semiconductor and electronics manufacturing ecosystem, says Khaitan & Co
Gavin Kliger, a DOGE software engineer, is reportedly set to work at the IRS for 120 days
The Royal Bank of Canada’s success over HMRC represents a milestone in the interpretation of double tax treaties, Norton Rose Fulbright partner Dominic Stuttaford said
Experts from African law firm Bowmans outline the challenges that companies operating across the continent face to stay tax compliant amid legislative upheaval and US pressure
The OECD said the EU nation relies too heavily on corporate tax from multinationals; in other news, Squire Patton Boggs, Skadden and KPMG all made senior tax appointments
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