Italy enacts VAT measures in 2016 budget law

  • By A&S
  • January 15, 2016
  • News

The Italian Parliament has passed and published its 2016 budget law (Law n. 208 of December 28, 2015), which includes new measures regarding VAT in Italy as from January 1, 2016. The new VAT measures include: Extending the reverse-charge mechanism to services rendered to a consortium by its members…

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Japan publishes 2016 Tax Reform Plan

  • By A&S
  • December 18, 2015
  • News

On December 16, 2015, the Japanese government publishes the key measures of its 2016 Budget, including: Reduction of corporate income tax rate from 32.11% (2015) to 29.97% (2016) and 29.74% (2018).;Increase of the consumption tax to 10% from April 2017; Introduction of county-by-country (CbC) reporting on the financial year…

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Tax reform package for 2016 published in Mexico

  • By A&S
  • November 25, 2015
  • News

On November 18, 2015, the tax reform package for 2016 was published in the Official Gazette of Mexico. The package, containing amendments to the Federal Tax Code and Income Tax Law, includes: New BEPS-inspired information requirements for transfer pricing purposes (a Master File, a Local File and a Country-by…

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Second part of Finance Bill 2016 introduced in France, includes changes to transfer pricing documentation rules

  • By A&S
  • November 11, 2015
  • News

The Finance Committee of the French National Assembly has introduced the second part of the Finance Bill for 2016. According to the legislative proposals included in the Bill, it would become mandatory for transfer pricing documentation to be filed with the tax administration in connection with the annual tax…

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Luxembourg announces 2016 budget, abolishes the current 80 % patent reduction

  • By A&S
  • October 18, 2015
  • News

On October 14, 2015, Luxembourg announced its budget for 2016 which contains several measures directly linked with the publication of final reports for the OECD BEPS project on October 5, 2015. The Budget Bill No. 6900 abolishes the current 80% patent income deduction which provides that 80 % of…

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Norwegian government presents 2016 budget and a white paper on potential BEPS measures

  • By A&S
  • October 11, 2015
  • News

On October 7, 2015, the Norwegian government presented the 2016 budget which includes several relevant changes to the current corporate income tax provisions. Under the proposed budget, the corporate income tax (CIT) rate would be reduced from current 27 % to 25 % in 2016, with a further reduction to 22 % being announced…

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