France publishes corporate tax, transfer pricing legislation

  • By A&S
  • January 20, 2016
  • News

France has published new corporate tax and transfer pricing legislation in the official journal, which includes: Modifications to the parent-subsidiary regime; Revisions to the withholding tax exemption regime for dividends paid to EU parent companies; Modifications to the taxation regime of intra-group dividends paid between EU entities; Rules for…

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European Parliament votes in favor of an EU-wide ‘Fair Taxpayer’ label

  • By A&S
  • January 18, 2016
  • News

The European Parliament passed a proposal on December 16, 2015 in favor of an EU-wide ‘Fair Taxpayer’ label to aid in tackling tax avoidance. The proposal was initiated by the EU Economic and Monetary Affairs Committee in a report by MEPs Annelise Dodds (Socialists and Democrats, UK) and Ludëk…

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Senators allege US companies targeted by EU authorities over tax breaks, ask for retaliatory tax measure to be considered on EU countries

  • By A&S
  • January 16, 2016
  • News

In response to EU investigations into tax breaks for US-based companies, four US Senators have asked the Obama administration to consider retaliatory double taxes on EU countries. The request amplifies the brewing conflict between US and EU officials over investigations that are questioning tax deals involving e.g. Apple Inc….

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Oman proposes 15 % corporate income tax

  • By A&S
  • January 13, 2016
  • News

In addition to the Oman State Council’s approval of an Income Tax Law, Insurance Companies Law and Foreign Capital Investment Law, the Economic Committee at the State’s Council has proposed a 15 % tax rate to be levied on all corporate annual income, without any exception or discrimination. Previously…

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New transfer pricing documentation rules enacted in the Netherlands, includes Country-by-Country reporting

  • By A&S
  • January 11, 2016
  • News

The Dutch Upper House (Eerste Kamer) has passed legislation (‘2016 Other Tax Measures’, in English) amending the transfer pricing documentation rules to include country-by-country reporting obligations, as well as master file and local file provisions. The rules are effective from January 1, 2016. The legislation introduces new standardized documentation…

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Italy publishes instructions and clarifications on patent box regime

  • By A&S
  • January 7, 2016
  • News

The Italian Revenue Agency (IRA) has published instructions (Prot. N. 2015/154278) (Instructions) for applying the Patent Box regime as well as the first circular letter (n. 36/E of December 1, 2015) (Circular) with important clarifications. The Patent Box regime is an elective tax regime that grants a 50 %…

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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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Ukraine proposes amendments to Tax Code

  • By A&S
  • December 3, 2015
  • News

On November 30, 2015, the Ukrainian Ministry of Finance published proposed amendments to the local Tax Code. The main changes proposed by the draft law include: Introduction of a flat 20% rate for corporate income tax, individual income tax, VAT and unified social contributions; Increase of VAT registration threshold…

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