International Updates
Under the 60-day rule in Cyprus, individuals are considered tax residents of Cyprus and benefit from the island's tax regime.
On December 10 2018, Portugal published Notice 144/2018 in the Official Gazette, announcing the new income tax treaty with Montenegro.
Russian legal entities that make capital gains from the sale of shares are eligible for a 0% tax rate, yet the criteria for satisfying this arrangement may not always be so simple.
Canada's Revenue Agency (CRA) confirmed in a recent technical interpretation (2017-071330117) that Canadian withholding tax can apply to the accrued (but unpaid) interest on a debt owed by a Canadian resident to a non-resident when the debt is assumed by another entity and such an assumption constitutes a "novation" of the debt obligation for purposes of the applicable commercial law.
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Sponsored by Deloitte LuxembourgLuxembourg has introduced controlled foreign company (CFC) rules for the first time in national legislation as part of its transposition of the EU's Anti-Tax Avoidance Directive (ATAD 1). -
Sponsored by KPMG Hong KongThe Financial Secretary Paul Chan announced the 2019/20 Hong Kong budget on February 27 2019, outlining the government's plan for the economy and its proposals for changes to taxation.
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Sponsored by DLA Piper NetherlandsThe Dutch State Secretary of Finance sent a letter to the Dutch Parliament on February 26 2019, answering questions raised by members of the House of Representatives on the proposed changes to the Dutch tax ruling practice, and announced introduction of a conditional withholding tax (WHT) on intra-group, outbound interest and royalty payments.
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