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 DLA Piper NetherlandsThe Netherlands is renewing and revising its practice regarding advance tax rulings (ATRs) and advance pricing agreements (APAs). The Dutch government expects that these renewed Dutch ruling practice shall take effect July 1 2019. -
Sponsored by Russell McVeaghNew Zealand's government has rejected the recommendation of its tax working group (TWG) that New Zealand introduce a capital gains tax (CGT). Announcing the government's decision, Prime Minister Jacinda Ardern acknowledged that while she personally saw merit in introducing a CGT, there was no mandate to proceed with introducing a CGT.
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Sponsored by MDDPFrom July 1 2019, payments from Poland abroad that are subject to a withholding tax (WHT) regime and exceeding PLN 2 million ($520,000) will be subject to a standard 19%/20% WHT rate.
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