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Recent Review Casts Doubt on Use of Chloroquine and Hydroxychloroquine for COVID-19 Patients

The new review has described the growing skepticism regarding adoption of chloroquine and hydroxychloroquine for COVID-19 patients. The review is published in FASEB journal.




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Antiviral Drug Remdesivir Offers New Hope for COVID-19 Patients

The US Food and Drug Administration (FDA) has given Emergency Use Authorization (EUA) for the experimental remdesivir (anti-viral medication) to treat COVID-19 patients.




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Olanzapine Reduces Nausea, Vomiting Among Cancer Patients

Olanzapine decreases the risk of nausea and vomiting among patients with advanced cancer, according to the study published in iJAMA Oncology/i. Charles Loprinzi, M.




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How Acid Suppressants Raise the Risk of Dementia Explained

How the long-term use of proton pump inhibitors could increase the risk of developing dementia has been explained in a study published in the journal iAlzheimer's (and) Dementia/i.




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Tax-News.com: EU Tells Italy To Revise 2019 Budget Plan

On October 23, 2018, the European Commission issued a request to the Italian Government that it revise its draft budgetary plan for 2019 because it breaches European Union fiscal rules.




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Tax-News.com: Italy Lists Companies Covered By VAT Split Payment Regime

The Italian Department of Finance has released new lists of government and private sector entities covered by Italy's split-payment mechanism.




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Tax-News.com: Italian Government Approves Draft Budget

On October 16, 2019, the Italian Council of Ministers approved the draft Budget law for 2020, which will prevent an automatic rise in the rate of value-added tax, and includes further measures designed to combat tax avoidance and evasion.




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Tax-News.com: Switzerland, Italy Agree Tax Deal Covering Campione d'Italia

Switzerland and Italy are to amend the customs status of the Italian enclave of Campione d'Italia.




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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: Italy Releases Tax Forms And Instructions For 2020

On January 31, 2020, the Italian Revenue Agency released instructions on how companies, individuals, corporate groups, and partnerships can comply with their tax return filing obligations during 2020.




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Tax-News.com: Italy Publishes Annual VAT Return In English

On March 4, 2020, the Italian tax authority published English language versions of the annual value-added tax form for 2020, together with instructions.




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Tax-News.com: EFTA And Mercosur Blocs Conclude Free Trade Deal

The European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland) and the Mercosur group of countries (Argentina, Brazil, Paraguay, and Uruguay) concluded in substance a broad-based free trade agreement at the tenth round of negotiations from August 20 to 23, 2019.




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Tax-News.com: Netherlands To Reduce Tax On Savings Income

On September 6, 2019, the Dutch Ministry of Finance announced proposals to reforms the tax rules for savings income.




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Tax-News.com: Philippines House Passes Financial Services Tax Reforms

The Philippines' House of Representatives on September 9, 2019, approved two bills to overhaul the rates in place on financial services and passive income.




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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: New Zealand Lining Up More Tax Relief For Fledgling Firms

The New Zealand Government has announced that it will adopt two tax incentives proposed by the Tax Working Group: a deduction for "feasibility expenditure" for businesses, and relaxed loss continuity rules.




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Tax-News.com: OECD To Provide Another Update On Int'l Tax Reform Work

The OECD has announced that the next Tax Talks webcast will be held on October 9. It will update stakeholders on its work to develop new international tax rules.




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Tax-News.com: New Zealand Adds To Real Property Tax Reform Plans

New Zealand has released a new consultation on proposals to further clarify the deductibility of holding costs (rates, interest, insurance, etc.) where land that is subject to tax on sale is used privately while it is held.




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Tax-News.com: Trinidad And Tobago's Budget Focused At Companies

Caribbean territory Trinidad and Tobago announced changes to corporate tax breaks in its 2020 Budget, in which it committed to clear the almost TTD4.5bn (USD664m) in unpaid VAT refunds.




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Tax-News.com: BVI Issues Final Economic Substance Rules

On October 9, 2019, the British Virgin Islands International Tax Authority has finalized rules governing the application of the territory's new economic substance requirements, which became effective from January 1, 2019.




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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: American Firms Concerned By Canadian Digital Tax Plan

Representatives from US trade and industry associations have voiced concern about a digital services tax proposal floated during the recent Canadian election which they argue will "impose discriminatory requirements on the digital economy."




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Tax-News.com: OECD Says Digital Tax Plans Will Boost Most States' Revenues

During a February 13, 2020, webcast, the OECD presented economic analysis on the potential impact of what it has proposed on international tax reform to address 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: Germany Approves VAT Cut For E-Books

The German Cabinet has approved a proposal to reduce the rate of value-added tax on electronic publications. The rate is expected to drop from January 1, 2020.




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Tax-News.com: US And France Nearing Digital Tax Compromise

The Governments of France and the United States are reportedly close to settling a dispute surrounding France's digital services tax.




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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: Austrian Parliament Approves Digital Tax

On September 19, 2019, the lower house of the Austrian parliament approved the first part of a package of tax reforms that will introduce a digital tax as well as bring about changes to certain value-added tax rules.




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Tax-News.com: France To Introduce VAT Requirements For Online Marketplaces

On September 23, 2019, the French Government outlined a number of measures that will be included in the 2020 Finance Law to ensure the payment of value-added tax on items bought by French residents from online marketplaces.




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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.




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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.




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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: 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.




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Tax-News.com: EU's PANA Committee Visits Switzerland

A delegation from the European Parliament's PANA Committee will travel to Switzerland to discuss the efforts being taken to combat money laundering, terrorist financing, and tax offences.




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Tax-News.com: EU VAT Gap Release Falls Ahead Of New Anti-Fraud Action

The European Union value-added tax gap – the overall difference between expected VAT revenue and actual EU member state collections – was EUR152bn in 2015, says the European Commission, highlighting the need for further reforms to tackle avoidance, error, and evasion.




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Tax-News.com: Malta Levels Tax On Debt, Equity Financing

Malta has enacted rules removing the bias in favor of debt financing by creating a notional interest deduction for equity financing.




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Tax-News.com: EU's Tax Blacklist Lacks Legitimacy Without Transparency: MEPs

Greens/EFA members of the European Parliament have called on the EU Code of Conduct Group to be more transparent about the criteria it used to create the EU's new blacklist of non-cooperative territories and how it will manage it going forward.




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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: EU Challenges Yacht VAT Avoidance In Three States

The European Commission has sent letters of formal notice to Cyprus, Greece, and Malta for not levying the correct amount of value-added tax on yachts.




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Tax-News.com: Advance Pricing Agreements 'At Record High' In EU

The number of advance pricing agreements between EU member states and companies rose by 64 percent from 2015 to 2016, according to research by Eurodad.




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Tax-News.com: Malta Backs EU Crackdown On Aggressive Tax Planning

Malta has reiterated its commitment to fighting aggressive tax planning, joining other EU member states who have unanimously agreed to amend the EU's tax information sharing law, the Directive on Administrative Cooperation.




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Tax-News.com: Malta Updates Guidelines On Automatic Exchange Of Account Info

Malta's Commissioner for Revenue on January 2, 2020, issued a single set of guidelines on the automatic exchange of financial account information.




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Tax-News.com: Maltese Tax Agency Rejecting Foreign Bank Drafts, Checks

On February 20, 2020, Malta's Commissioner for Revenue said tax payments by bank draft or check issued by foreign banks will no longer be accepted.




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Tax-News.com: Belgian Excess Profits Regime Not Unlawful Says EU Court

On February 14, 2019, the General Court of the European Union annulled the European Commission's decision that the Belgian tax regime relating to the excess profit of multinational companies is contrary to EU law.




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Tax-News.com: Belgian Cabinet Approves Brexit Tax Law

Belgium's Council of Ministers has approved a draft law that would temporarily treat the United Kingdom as a member of the European Union for Belgian tax purposes should the UK leave the EU having failed to agree any withdrawal arrangements.




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Tax-News.com: Tax Agencies Meet To Discuss Use Of Big Data Analysis

Tax agencies from 31 countries discussed the ways they are using data analysis tools to improve tax enforcement and administration, at the first meeting of the IOTA Forum on Tax Debt Management, held in Prague, Czech Republic, On October 1-3, 2019.