International Updates
On December 10 2018, Portugal published Notice 144/2018 in the Official Gazette, announcing the new income tax treaty with Montenegro.
Under the 60-day rule in Cyprus, individuals are considered tax residents of Cyprus and benefit from the island's tax regime.
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.
Sponsored
Sponsored
-
Sponsored by Eurofast Bosnia & HerzegovniaBosnia's Brčko District Assembly adopted amendments to the Law on Cash Registers on October 17 2018, narrowing the list of persons who are obliged to register invoices using cash registers. The new amendments now grant exemptions to a number of taxpayer categories including: farmers not registered for VAT, farmers and craftsmen selling their own goods, small companies (as per the Law on Personal Income Tax), municipal public companies, banks, insurance companies, insurance funds, postal companies, religious institutions, educational institutions, libraries, museums, and gambling and betting related activities. -
Sponsored by Deloitte LuxembourgLuxembourg has transposed the EU's Anti-Tax Avoidance Directive (ATAD) into its domestic law, with the rules applying for financial years starting on or after January 1 2019.
-
Sponsored by Dhruva AdvisorsDelhi High Court (HC) has confirmed the Income Tax Appellate Tribunal's decision that various overseas entities of the GE Group had a fixed place, permanent establishment (PE), and a dependent agent PE in India.
