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Tax-News.com: First Chinese 'Environment Tax' Reports Due April 1

About 260,000 businesses with operations in China will begin to be assessed for liability to the country's new environmental tax starting next month.




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Tax-News.com: China Will Open Up To Foreign Investment, Lower Import Tariffs

China plans to actively expand imports and open up to foreign investment by reducing tariffs and taxes, according to a work report released by the Government ahead of the annual parliamentary session.




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Tax-News.com: China Pledges Tax Support For 'Belt And Road Territories'

The tax agencies of China and Kazakhstan, with involvement also from the OECD, hosted a three-day tax conference to discuss the provision of capacity building support from China for those countries that will be involved in China's Belt and Road Initiative. It was attended by more than 250 delegates from 49 tax administrations, four international organizations, and five academic institutions.




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WHO Trial Assesses 4 Most Potential Drugs to Fight COVID-19

WHO has announced a global trial named 'SOLIDARITY' to identify if any drug can treat infection caused by the novel coronavirus (COVID-19). The trial,




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Chloroquine Poisoning Reported in Three Nigerians

The government of Nigeria has issued a warning over the use of chloroquine to treat COVID-19, after three people got overdosed, and hospitalized due to poisoning.




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Two Existing Drugs Hold Potential to Treat COVID-19

Using repurposed drugs to treat COVID-19 would greatly reduce the time needed to gain FDA approval again. Details of the research on two repurposed drugs




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Tax-News.com: Italy To Support Armenia To Implement BEPS Reforms

Tax officials in Armenia are to receive support from the Italian Revenue Agency to implement initiatives to tackle tax base erosion and profit shifting.




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Tax-News.com: EU Invites Comments On Italian Port Taxation

An invitation to submit comments with regards to the corporate tax exemption provided to ports in Italy was published in the January 10, 2020, issue of the Official Journal of the European Union.




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Tax-News.com: NZ Opposition Eyeing Corporate Tax Cut Election Pledge

New Zealand's opposition National Party has released its plans for tax reform, announcing it would review whether to lower the corporate tax rate.




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Tax-News.com: Germany Proposes Climate Change Tax Plan

On September 16, 2019, the German conservative parties, the Christian Democrats and the Christian Social Union, published a report calling for reform of environmental taxes and levies to help Germany achieve its emissions reductions targets.




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Tax-News.com: Warren Announces US Corporate Tax And Wealth Tax Plans

On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on large corporations and wealthy individuals, as well as by stricter anti-tax avoidance rules.




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Tax-News.com: Slovenian Lawmakers Approve Corporate Minimum Tax Plan

On October 23, 2019, Slovenia's National Assembly adopted a package of tax measures which includes changes to corporate, personal, and capital gains taxes.




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Tax-News.com: OECD To Report On Potential Impact Of Its New Digital Tax Rules

The OECD is to host a webcast on February 13, 2020, to present its analysis of the potential impact of its proposals for international tax reform to address the tax challenges arising from the digitalization of the economy.




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Tax-News.com: New Zealand Proposing GST Exemption For Crypto-Assets

New Zealand's Inland Revenue Department has announced the launch of a consultation on potential reforms to improve the goods and services tax regime.




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Tax-News.com: USTR Stages Hearing On French Digital Tax Response

On August 19, 2019, the Office of the United States Trade Representative held an off-camera public hearing on France's recently introduced digital services tax, attended by three major technology firms.




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Tax-News.com: Exporters Urge Int'l Reform To Simplify VAT Compliance

The International Chamber of Commerce has warned that micro-, small-, and medium-sized businesses' growth prospects are being stymied by complex indirect tax regimes. It has released an issues brief that is intended to contribute towards international reform talks being led by the World Trade Organization.




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Tax-News.com: Netherlands Planning Slower But Deeper Corporate Tax Cut

On September 17, 2019, Dutch State Secretary for Finance Menno Snel presented the Government's 2020 Tax Plan to the House of Representatives. It includes revised plans for corporate tax cuts.




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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.




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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.




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Tax-News.com: Report Published On Role Of Malta's Tax Collection Agencies

A new report has been issued following an audit into how taxes in Malta are administered.




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Tax-News.com: Bermuda Lists CbC Report Exchange Partners

The Bermuda Government on January 31, 2018, updated the lists of the countries with which it will exchange country-by-country reports filed in Bermuda in 2018 and in 2019.




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Tax-News.com: OECD Consults On Tackling Common Reporting Standard Circumvention

The OECD has recently launched a consultation on tackling the circumvention of its latest international tax transparency standard, the Common Reporting Standard, through the use by individuals of residency by investment (RBI), or citizenship by investment (CBI) schemes.




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Tax-News.com: Malta Defers Electronic Corporate Tax Return Filing Deadlines

Malta's Commissioner for Revenue recently announced electronic filing deadline extensions for corporate income tax returns.




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Tax-News.com: Belgium Accepting Amendments To Filed CbC Reports

Belgium's tax agency has announced that its MyMinfin portal is now open for multinational taxpayers seeking to correct errors in filed country-by-country reports.




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Tax-News.com: IMF Proposes Reforms For Belgium

Belgium should look to broaden its tax base to fund labor tax reductions, the International Monetary Fund has said in its annual report for the country.




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Tax-News.com: COVID-19: Belgium Extends Corporate Tax Return Deadline

On April 29, 2020, the Belgian tax authority announced changes to the deadline for the submission of annual corporate tax declarations due to the COVID-19 crisis.




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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.




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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.




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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.




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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.




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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.




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Tax-News.com: Swiss CbC Reporting Regime Wins OECD Approval

Switzerland's country-by-country reporting regime meets international standards and the country effectively exchanges the reports it receives with other countries, an OECD peer review has concluded.




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Tax-News.com: Switzerland Publishes VAT Guides For Sportspeople

On October 22, 2019, the Swiss Federal Finance Department uploaded a series of publications concerning the value-added tax rules for those participating in and organizing sporting events.




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Tax-News.com: Swiss Tax Disputes Resolved Quickly In 2018: Report

Switzerland has released a report on its efforts to resolve tax disputes, noting that the average time to complete mutual agreement procedure cases was 13 months in 2018, significantly below that required under the BEPS minimum standards.




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Tax-News.com: Switzerland To Overhaul Corporate Tax Rules On January 1

Switzerland is due to introduce its new corporate tax regime from the beginning of 2020.




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Tax-News.com: Switzerland Reports Bumper Tax Receipts For 2019

Higher tax receipts helped Switzerland to another surplus in 2019, with withholding tax and direct federal tax performing particularly well.




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Tax-News.com: UAE Introduces CbC Reporting, Economic Substance Rules

The UAE has recently passed legislation to introduce new country-by-country reporting requirements and new economic substance requirements.




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Tax-News.com: Japan Planning Targeted Corporate Tax Relief

Japan's ruling Liberal Democrat Party has approved a tax reform package that will cut corporate rates for companies who increase employee wages.




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Tax-News.com: Australian Exporters Making The Most Of FTAs

Australia's free trade agreements are being widely used by Australian businesses, according to a new report commissioned by the Government.




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Tax-News.com: IRS Reports Uptick In Advance Pricing Agreements

The US Internal Revenue Services has released its annual report on the number of advance pricing agreements and applications and made during the 2017 calendar year.




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Tax-News.com: Korea To Ease Tax Rules For Exporters To Japan

South Korea's Government has announced that it will provide tax relief to small and medium size businesses that have been affected by Japan's decision to remove 159 South Korea products from its export "white list."




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Telehealth Well Positioned to Tackle and Contain COVID-19 Outbreak

Highlights: The current global crisis with COVID-19 infection provides telehealth the ideal opport




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Tax-News.com: Brexit: UK Rolls Out Transitional Simplified Procedures For Importers

HM Revenue and Customs (HMRC) has automatically registered 95,000 businesses for its simplified import procedures, allowing most UK traders up to six months to pay import duties and submit customs declarations, if the UK leaves the EU without a deal on October 31, 2019.




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Tax-News.com: UK Prime Minister Cancels Corporate Tax Cut

UK Prime Minister Boris Johnson has announced that his party intends to cancel a planned cut to the corporate tax rate, which was scheduled for April 2020.




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Tax-News.com: UK Labour Promises Corporate Tax Hikes, Second Brexit Referendum

The main UK opposition party Labour has set out its plans for tax reform, in a manifesto released on November 21.




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Tax-News.com: German Businesses Call For 25pc Corporate Tax Rate

The Federal Association of German Industry, the BDI, has urged the German government to forge ahead with corporate tax reforms, warning that Germany's corporate tax regime is becoming increasingly out of step with the country's competitors.




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Tax-News.com: UK Should Keep A Closer Eye On Tax Breaks: NAO Report

The UK's National Audit Office has called for a more comprehensive review of the 1,190 tax relief measures available for taxpayers, which are estimated to have cost the UK revenues worth GBP155bn (USD201.7bn) in 2018-19.




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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.




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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.




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Tax-News.com: US Agrees To Exchange CbC Reports With Spain

In a recent update, the Internal Revenue Service has announced that it has agreed a bilateral competent authority agreement with authorities in Spain to exchange country-by-country reports.