business and finance

Tax-News.com: Norway Ready To Implement Digital Tax

Norway's Minister of Finance, Siv Jensen, has said that Norway will adopt a national digital services tax if negotiations towards an international digital tax framework fail to materialize this year.




business and finance

Tax-News.com: US State Maryland Considering Digital Advertising Tax

On January 8, 2020, a bill was introduced in the Senate of the US state of Maryland that would impose a tax on revenues associated with digital advertising derived in the state.




business and finance

Tax-News.com: Turkey Issues Draft Guidance On Digital Services Tax

The Turkish tax authority has published a draft communique on the application of the digital sales tax, which is set to come into effect on March 1, 2020.




business and finance

Tax-News.com: France Confirms Postponement Of DST Payments

France's Directorate General of Public Finance confirmed in a statement issued on February 10, 2020, that companies liable for the country's digital services tax can delay payment of upcoming installments of the tax until December 2020.




business and finance

Tax-News.com: OECD Provides Update To G20 On BEPS Work

In a new report for G20 ministers, the OECD has provided an update on its work to tackle tax base erosion and profit shifting relating to multinational businesses.




business and finance

Tax-News.com: EU Green Lights E-Commerce Transaction Reporting Rules

The European Council has approved new rules for the exchange of VAT payment data relating to cross-border e-commerce transactions.




business and finance

Tax-News.com: EU Finance Ministers Issue Joint Statement On Digital Taxation

The finance ministers of France, Germany, Italy, and Spain have put their names to a statement calling for countries to reach an agreement on solving the tax challenges of the digital economy by the end of 2020.




business and finance

Tax-News.com: Turkey Introduces New Digital Services Tax

On March 1, 2020, Turkey's recently approved tax on certain digital services went into effect.




business and finance

Tax-News.com: Spain Legislates For Digital Services Tax

The Spanish Government has published the draft bill to introduce a digital services tax in Spain, beginning the formal parliamentary process needed to introduce the measure.




business and finance

Tax-News.com: Hong Kong Touts Tax Perks In Shanghai

Invest Hong Kong, Hong Kong's inward investment agency, has encouraged Mainland Chinese companies to make use of new tax incentives in Hong Kong.




business and finance

Tax-News.com: China Confirms Numerous Trade Duty Changes From 2018

China intends to implement numerous changes to its trade tariffs from January 1, 2018, to ensure domestic businesses have access to inputs and equipment and to implement changes in prior international agreements.




business and finance

Tax-News.com: Hong Kong Gazettes BEPS, Profits Tax Bills

Hong Kong published two bills in its Official Gazette on December 29 to introduce provisions to counter base erosion and profit shifting and to alter its business tax regime.




business and finance

Tax-News.com: UK Lawmakers Discuss Potential Post-Brexit Free Zones

During a January 7, 2018, debate in the UK House of Commons, UK lawmakers discussed the country's plans to leave the EU, its customs union, and value-added tax area.




business and finance

Tax-News.com: HK, France To Share Multinationals' Country-by-Country Reports

Hong Kong has newly signed an agreement with France to automatically exchange country-by-country reports filed by multinationals.




business and finance

Tax-News.com: Hong Kong Eases Stamp Duty Rules For Residents

Hong Kong has relaxed the rules for those buying residential property, with the publication in the Official Gazette of The Stamp Duty (Amendment) Ordinance 2018 on January 19, 2018.




business and finance

Tax-News.com: IMF Encourages Hong Kong To Consider Tax Reforms

The International Monetary Fund has urged Hong Kong to consider tax reform options to boost revenues while maintaining the economy's competitiveness and flexibility.




business and finance

Tax-News.com: Hong Kong To Soon Join OECD's Multilateral Tax Compact

Hong Kong on February 2, 2018, ratified an Ordinance to enable the territory to soon join the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters and thereby more simply and more broadly agree to exchange tax information with other countries' tax authorities.




business and finance

Tax-News.com: Hong Kong's New Budget Contains Tax Relief Measures

Hong Kong's new Budget contained a number of new tax perks for individuals and measures to promote the adoption of environmentally friendly technologies, but few measures for businesses.




business and finance

Tax-News.com: Hong Kong Launches CbC Reporting Portal

Hong Kong's Inland Revenue Department on March 5 launched its new Country-by-Country Reporting Portal.




business and finance

Tax-News.com: Hong Kong Gazettes Tax-Cutting Budget Bill

On March 9 Hong Kong's Inland Revenue Department gazetted the Inland Revenue (Amendment) Bill 2018, containing measures worth HKD30bn (USD3.82bn) announced in the Budget.




business and finance

Tax-News.com: Tax-Privileged Free Trade Zones The OECD's Next Target

In a new report, the OECD has drawn attention to criminal activity in free trade zones, which typically offer tax privileges and lighter regulation, highlighting that they may be unintentionally fostering growth in counterfeit goods.




business and finance

Tax-News.com: India, Hong Kong Sign Double Tax Deal

Hong Kong and India on March 19 signed an agreement to avoid double taxation and limit withholding tax rates on passive income at source.




business and finance

Tax-News.com: Hong Kong Confirms Profits Tax Shakeup From April

Hong Kong has gazetted an ordinance to establish a new two-tier corporate tax regime from April 1, 2018.




business and finance

Tax-News.com: Hong Kong Tables Bill For Research And Development Tax Breaks

The Hong Kong Government has released a draft bill containing its 2017 proposal to provide an enhanced tax deduction for research and development expenditure.




business and finance

Tax-News.com: Hong Kong To Ensure ITVF Tax Break For Offshore Investors

Hong Kong's Government has published a draft law preserving the profits tax exemption for offshore venture capital funds who participate in the island's new Innovation and Technology Venture Fund.




business and finance

Tax-News.com: HK Government Studying Vacant Property Tax

Hong Kong's Government says it is studying the feasibility of introducing a tax on vacant "first-hand" private residential properties.




business and finance

Tax-News.com: HK's Legislature Passes 2018/19 Budget Bill

Hong Kong's Secretary for Financial Services and the Treasury, James Lau, has welcomed the recent passage of the 2018/19 Budget Bill through the special administrative region's parliament.




business and finance

Tax-News.com: Hong Kong Issues Tax Compliance Guide For Property Owners

On June 14, 2018, Hong Kong's Inland Revenue Department released guidance on the tax obligations of landlords.




business and finance

Tax-News.com: Hong Kong's Parliament Endorses Improved R And D Tax Breaks

Hong Kong's Legislative Council has passed legislation to improve the jurisdiction's tax incentives for research and development spending.




business and finance

Tax-News.com: OECD Reports Progress On Harmful Tax Regimes Work

Releasing a progress update, the OECD said international efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide.




business and finance

Tax-News.com: Hong Kong Guides On New Business Tax Reliefs

Hong Kong's Inland Revenue Department has noted that, starting from the year of assessment 2018/19, capital expenditure incurred for procuring environmental protection installations should be deducted in a single year, rather than over five years.




business and finance

Tax-News.com: Hong Kong Issues New Guidance On Foreign Tax Credits

Hong Kong's Inland Revenue Department has released new guidance notes on the deduction of foreign taxes.




business and finance

Tax-News.com: Switzerland To Share Taxpayer Data With Hong Kong, Singapore

Switzerland's agreements for the automatic exchange of financial account information with Hong Kong and Singapore have entered into force.




business and finance

Tax-News.com: New Zealand Tops World Bank's 'Doing Business' 2020

New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world.




business and finance

Tax-News.com: OECD Releases Eight New Action 14 Peer Reviews

The OECD recently released the seventh round of stage one peer review reports, assessing eight jurisdictions' efforts to implement the BEPS Action 14 minimum standard on tax dispute resolution.




business and finance

Tax-News.com: Hong Kong Gazettes Tax Breaks For Ship Leasing

The Hong Kong Government has published in the Gazette legislation to provide profits tax concessions to certain ship lessors and ship leasing managers.




business and finance

Tax-News.com: Hong Kong Announces Tax Credit Handout In 2020 Budget

Hong Kong's 2020 Budget includes plans for a one-off reduction of profits tax, salaries tax, and tax under personal assessment.




business and finance

Tax-News.com: Hong Kong Releases New Guidance On Advance Rulings

Hong Kong has updated its guidance on advance rulings, to reflect changes to Hong Kong's practices as a result of its efforts to comply with the OECD's minimum standards proposed as part of the base erosion and profit shifting (BEPS) Action Plan.




business and finance

Tax-News.com: UK Announces Plastics Tax, Business Rates Relief In 2020 Budget

The UK's 2020 Budget, released on March 11, 2020, includes proposals to waive business rates on small retailers, to introduce a new tax on plastics, and to remove value-added tax on electronic publications.




business and finance

Tax-News.com: Germany Relaxes Tax Payment Rules

On March 13, 2020, the German Ministry of Finance announced the relaxation of certain tax payment requirements as part of a package of measures designed to ease the economic impact of the COVID-19 virus.




business and finance

Tax-News.com: Netherlands Announces Tax Measures To Mitigate COVID-19

The Dutch Government will allow taxpayers to defer payments of certain taxes under a new package of coronavirus economic relief measures.




business and finance

Tax-News.com: COVID-19: Germany Allowing Businesses To Defer Taxes

The German Ministry of Finance has adopted a circular including various tax relief measures for businesses affected by the coronavirus outbreak.




business and finance

Tax-News.com: Switzerland Announces COVID-19 Plan To Scrap Interest On Tax Arrears

The Swiss Government has announced that it will waive interest on late payments of tax, to allow companies to delay their tax payments.




business and finance

Tax-News.com: Malta Defers Tax Payment Deadlines In Response To COVID-19

In response to the coronavirus outbreak, the Maltese Government has announced deferrals for the payment of a number of taxes.




business and finance

Tax-News.com: New Zealand Enacts COVID-19 Support Bill

New Zealand has enacted The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill to support businesses and individuals cope with the COVID-19 outbreak.




business and finance

Tax-News.com: Argentina Announces COVID-19 Tax Concessions

The Argentine Government has announced a number of tax-related measures in response to the COVID-19 pandemic.




business and finance

Tax-News.com: COVID-19: UK Delays Expansion Of Making Tax Digital For VAT

The UK Government has announced that it will delay ramping up its Making Tax Digital project, in light of COVID-19.




business and finance

Tax-News.com: COVID-19: Netherlands Announces Extra Tax Help For Small Businesses

On April 2, 2020, the Dutch Ministry of Finance announced that the rules for requesting tax payment deferrals have been simplified and extended to cover additional taxes.




business and finance

Tax-News.com: Switzerland To Amend Withholding Tax Act

The Swiss Federal Council has launched a consultation on proposals to close what it says is a loophole in the withholding tax system, in a bid to strengthen the country's debt market.




business and finance

Tax-News.com: New Zealand Issues COVID-19 Guidance For Businesses

New Zealand's Inland Revenue Department has set out the range of supports available to businesses in response to the impact of COVID-19.