International updates - May 2016

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International updates - May 2016

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The latest international updates from our correspondents around the world.

Albania: IMF requests amendments to Albanian property tax

Australia: Australian BEPS update pre-election

Brazil: Brazil’s Senate approves Convention on Mutual Administrative Assistance in Tax Matters

Canada: Federal Court of Appeal agrees with TDL on scope of Canadian interest deductibility purpose test

Chile: Change of scenery: Chilean tax assistance and transparency

China: China’s new VAT rates and rules across all industries

Croatia: Treaty analysis: Croatia-Luxembourg DTA enters into force

Cyprus: Recent developments in Cypriot IP taxation: Are you prepared?

EU: EU Commission proposes public CbCR

Germany: EGC rules German exception to change-in-ownership rule qualifies as unlawful state aid

India: Taxing digital transactions in India

Indonesia: Indonesia targeting cross-border and online transactions

Ireland: New Irish tax appeals system

Italy: Italian Revenue Agency issues guidelines on LBOs

Luxembourg: Luxembourg VAT: CJEU delivers important decision regarding real estate investment funds

Poland: Incoming reporting changes in Poland

Russia: Transfer pricing audits in Russia: Initial results and trends

Serbia: Treaty analysis: Serbia ratifies DTA with South Korea

South Korea: Tax Tribunal rules Korean tax authority had no basis to disregard the existence of domestic holding companies established to facilitate LBO

Spain: Spanish Supreme Court confirms that Brazilian ‘juros sobre o capital próprio’ can benefit from Spanish participation exemption regime

Switzerland: Swiss perspective: Standardised electronic format for the exchange of CbC reports released by the OECD

US Inbound: US proposes new debt-equity regulations regarding interest in a corporation

more across site & bottom lb ros

More from across our site

Anticipating potential changes in tax basis interpretations can help reduce audit risks in tax planning for intercompany equity transfers, says Abe Zhao of FenXun partners
The new guide also covers transfer pricing and states that all transactions between related parties must be at arm’s-length
Local experts suggest complexity within Italy’s tax system could explain why advisers lag behind their counterparts in other jurisdictions
The tie-up will add around three US-based tax partners to Herbert Smith Freehills’s international 17-partner practice
The government’s move is potentially the most seismic shift to VAT since it was first introduced, one expert argues
There has been a decrease in investigations known as Code of Practice 8 and 9 cases, it has been reported
The Caribbean country became the 149th member of the international treaty, which aims to combat illicit financial flows
Clients of audit services should also be disallowed access to firms’ other services, it was claimed; in other news, Ireland approves amount B
The ruling follows the Federal Court of Australia’s full court deciding in favour of the soft drink company in June
Sweeping changes are headed for Germany’s TP system in the New Year. Tax teams will need to be well-prepared, say Andreas Katz and Anna Kupprion of Kreston Bansbach
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