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Tax-News.com: Canadian Business Confidence Knocked By US Tax Changes

The Bank of Canada has published the findings of its latest business outlook survey, which shows some concern among firms over the impact of US trade and tax policies.




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Tax-News.com: Canada Urged To Introduce Digital Tax Nexus Rules

The Canadian Parliament's international trade committee has recommended that the federal Government tax products supplied to Canadian consumers by online platforms.




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Tax-News.com: Canada Promises To Improve Tax Advice Helplines

The Canadian Revenue Agency has unveiled a three-point action plan to improve the services offered by its call centers.




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Tax-News.com: OECD States Tapped VAT, CIT To Achieve Record Revenues In 2017

Last year, the tax burden in OECD countries reached its highest level recorded, at 34.2 percent of gross domestic product, up 20 basis points on 2016, largely due to increasing taxes on personal consumption and companies.




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Tax-News.com: Canada Launches Tax Filing Season

On February 19, the Canada Revenue Agency officially opened the 2019 tax filing season.




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Tax-News.com: Most Europeans Want Tougher Action Against Tax Fraud

Three-quarters of Europeans want the European Union to do more to tackle tax evasion, according to a new survey by Eurobarometer.




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Tax-News.com: EU Criticizes France's Inefficient VAT System

The European Commission has released a paper recommending improvements to France's "inefficient" value-added tax system, including that the country do away with broadly applying reduced VAT rates.




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Tax-News.com: India Cabinet Agrees Cypriot Tax Treaty Changes

The Indian Cabinet on August 24 approved the signature of a double tax agreement protocol with Cyprus that would tackle "round tripping" and base erosion and profit shifting.




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Tax-News.com: HMRC Warns Against Use Of New CGT Avoidance Scheme

UK tax authority HM Revenue and Customs has said that it is aware of a new tax avoidance scheme that attempts to exploit Entrepreneurs' Relief by turning what would be income into a capital gain.




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Tax-News.com: European Parliament Begins Panama Papers Inquiry

The European Parliament has begun its inquiry into the Panama Papers with a hearing with the investigative journalists behind the leak.




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Tax-News.com: Italian Police Breaks Up Europe-Wide VAT Fraud Ring

On October 12, the Italian financial police said it had broke up a value-added tax fraud ring allegedly involved in transactions totaling EUR930m, through 180 companies in 15 European Union (EU) countries.




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Tax-News.com: Tax Rose In 20 EU States In 2015, Says Eurostat Report

The European Union statistics agency, Eurostat, has released new figures concerning member states' tax revenue collections and their tax mixes for 2015.




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Tax-News.com: Cyprus, India Tax Treaty To Take Effect In 2017

The revised double tax avoidance agreement between India and Cyprus will take effect from April 1, 2017, India's Central Board of Direct Taxes has announced.




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Tax-News.com: Tax 'Lost' In Panama Papers Worth Up To EUR237bn For EU

The total loss to EU member states from the schemes revealed in the Panama Papers could be in the region of between EUR109bn (USD119bn) to EUR237bn, according to a new study commissioned by the European Parliament's PANA committee.




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Tax-News.com: Cyprus Should Reinstate Immovable Property Tax: IMF

Cyprus should consider reinstating the immovably property tax to boost revenues, the International Monetary Fund has said.




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Tax-News.com: Cyprus Extends Deadline For CbC Reporting Entity Notification

The Cypriot tax authority has extended until January 15, 2018, the deadline for multinational corporations to submit their notifications concerning country-by-country reporting for 2017. The deadline had been December 31.




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Tax-News.com: EU Reports On States' Tax Reforms In 2017

The European Commission has released the 2017 edition of its survey of Tax Policies in the European Union, looking at the reforms undertaken by EU member states during the year.




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Tax-News.com: Cyprus Issues New CbC Filing Notification

The Cyprus Tax Department has released a notice on the obligation on Cypriot constituent entities of multinational groups to file a CbC report in Cyprus where the ultimate parent entity files in a territory without an exchange of information arrangement with Cyprus.




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Tax-News.com: Cyprus Extends Tax Compliance Dates In Light Of COVID-19

The Cyprus Government has announced a number of extensions to tax return filing dates.




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Tax-News.com: China Objects To New EU's Anti-Dumping Regime

China's Ministry of Commerce has objected to the EU's new anti-dumping methodology, claiming that it violates World Trade Organization rules.




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Tax-News.com: India To Probe Chinese 'Dumping' Of Fluoroelastomers

India's Department of Commerce has initiated an anti-dumping investigation into Fluoroelastomers from China.




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Tax-News.com: USITC Confirms Countervailing Duties On Tubing From China, India

The United States International Trade Commission will issue countervailing duty orders on imports of cold-drawn mechanical tubing from China and India, after determining that they are causing material injury to US manufacturers.




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Tax-News.com: India Mulling Tax On Foreign Solar Products

India is proposing to levy a safeguard duty of 70 percent on imports of solar-power equipment from China and Malaysia.




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Tax-News.com: French Workers In 'Third Countries' Liable For Social Security

Income from assets of French nationals who work in a state other than a member state of the EU, the European Economic Area or Switzerland may be subject to French social security contributions, the European Court of Justice has ruled.




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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.




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Tax-News.com: China 'Has Slashed Business Taxes By CNY2.5tn Since 2012'

The Chinese tax administration has reported that businesses have saved CNY2 trillion (USD317.8bn) following the replacement of business tax with value-added tax, beginning in 2012.




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Tax-News.com: China Sets Out How To Determine Beneficial Owner For Treaties

On February 3, 2018, China's State Administration of Taxation set out new rules on the disallowance of tax treaty benefits where an entity fails to demonstrate it is the beneficial owner of Chinese assets from which passive income is derived.




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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: EU Extends Anti-Dumping Tariffs On Chinese Steel

The EU is to apply existing anti-dumping measures on Chinese imports of seamless pipes and tubes of stainless steel for another five years.




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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: Chinese Property Tax On The Cards

Chinese authorities are working on a long-awaited property tax to cool the country's overheated property market, according to a senior government official.




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Tax-News.com: UK Updates VAT Guidance For Online Marketplaces

HM Revenue and Customs has updated its value-added tax guidance for online marketplaces and for suppliers using them to sell to UK consumers.




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Tax-News.com: First Deadline For Chinese Environmental Tax Approaching

The first returns under China's new environmental tax are due online by April 1, 2018.




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Tax-News.com: China's New FM Confirms Tax Cut Plans

China's new Finance Minister, Liu Kun, has announced plans to reform the nation's taxation system, including value-added tax rate reductions.




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Tax-News.com: China Cuts VAT To Fuel Economic Growth

China's State Council has announced a cut in value added tax rates as part of a CNY400bn (USD63bn) tax reduction package to stimulate growth.




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Tax-News.com: OECD Releases More Transfer Pricing Country Guides

The OECD has published new transfer pricing country profiles for Australia, China, Estonia, France, Georgia, Hungary, India, Israel, Liechtenstein, Norway, Poland, Portugal, Sweden, and Uruguay, bringing the number of such overviews published by the OECD to 44.




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Tax-News.com: Macau To Sign OECD Multilateral Information Exchange Treaty

Macau's Chief Executive has issued an order authorizing signature of the OECD Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information.




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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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Tax-News.com: Global Carbon Tax Take Up 50 Percent In 2017

Governments raised about USD33bn in carbon pricing revenue last year, a 50 percent increase from 2016, according to a new update by the World Bank.




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Tax-News.com: First Tax-Deferred Pension Scheme Launched In China

China's Government announced recently that a local insurance company had issued the country's first tax-deferred pension insurance policy, saying it marked the beginning of tax-deferred pension plans in China.




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Tax-News.com: OECD Seeks Feedback On Dispute Resolution In Ten Jurisdictions

The OECD has requested stakeholders' input on the dispute resolution processes in place in Andorra, Anguilla, Bahamas, Bermuda, the British Virgin Islands, the Cayman Islands, the Faroe Islands, Macau (China), Morocco, and Tunisia.




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Ritalin Directs Brain to Fix Attention on Benefits of Work

Ritalin and similar medications, commonly prescribed to patients with attention deficit hyperactivity disorder, also used by healthy people as a "study




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Sanofi Offers Promising Drug to Combat COVID-19

French pharmaceutical company Sanofi is ready to offer the French authorities, millions of doses of Plaquenil containing hydroxychloroquine, to treat




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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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Cannabinoids to Treat Acute Pain: Study

There is low-quality evidence indicating that cannabinoids may be a safe alternative for a small but significant decline in subjective pain score when treating acute pain, reports a new study.




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Approach for Patients at Risk of Medication-induced Cardiac Death in COVID-19

Medications being used to treat COVID-19 are known to cause prolongation of the QTc in some people. The QTc is an indicator of the health of the heart's electrical recharging system.




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Solution to Life-threatening Side Effect Identified

Paracetamol, the commonly used painkiller, when administered intravenously, lowers blood pressure. The mechanism underlying this dangerous side effect has been identified.




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Aspirin a Day Does Not Keep Dementia at Bay, Says Study

Daily dose of aspirin provided no benefit to study participants at either preventing dementia or slowing cognitive decline, stated study published in




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Investigational Drug to Prevent Heart Disease May Treat Ovarian Cancer

Ovarian cancer cells become detached from their point of origin and shift using fats as an energy source, according to Benjamin Bitler, PhD, and CU Cancer




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COVID-19 and Angiotensin Medications: New Insights

Heart and kidney patients should keep taking their drugs as inaccurate medical information has flooded social media and other channels, advised researchers.