Jurisdictions news

05.04.2013 Fashion sentence costs of 343 million euros

Now, the creators of famous Italian brand Golce&Gabbana can both be boast of not only their fashion and expensive collections, but also of one of the loudest trials about tax evasion.

12.03.2013 Double Tax Pact between Hong Kong and Mexico

The Convention for the Avoidance of Double Taxation between Hong Kong and Mexico, signed on June 18, 2012, entered into force on March 7, 2013. 

05.03.2013 Spain imposes new requirements to the declaring of foreign assets.

Spanish citizens as well as people who stayed in Spain more than 283 days of whose wife or children lives here, are obliged to declare their foreign assets before 30^th of April if the value of the assets is more than 50 thousands Euro. The assets are understood as bank accounts, real estate, shares, life insurance and so on.

05.02.2013 European Commission insists on tax reform in Denmark.

A provision of tax law of Denmark according to which if the citizen wants to move to another country for living, he is obliged to pay the corporate rights tax, and not at once but at the moment of getting any kind of investment income (for example, income from selling shares or getting dividends) attracted the attention of the European Commission.

04.02.2013 Austria concluded a number of important agreements

 Austria started the process of “tax harmonization” in last April when the agreement with Switzerland about withholding tax (came into force on 1^st January 2013).

15.01.2013 Russian Agreements 2012

According to the policy of returning capital back to Russia, attracting foreign investments in Russia and relying on the slogan that was put forward by Vladimir Putin “It is enough to feed offshores”, Russia actively concludes DTAs and Agreements of tax information exchange.

21.12.2012 Hong Kong wants to regain the leadership
Hong Kong  wants to regain leadership

20.12.2012 France takes action on the "Depardieu case"

After a sensational movement of famous actor Gerard Depardieu from expensive France to more favorable Belgium French President Francois Hollande declared his intention to change the tax agreement with Belgium.

19.12.2012 Will Vietnam become competitive soon?

In 2014, the Vietnamese government plans to reduce the corporate tax rate. The Ministry of Finance plans to submit a bill to the National Assembly, which will focus on the introduction of amendments to the Tax Code to reduce the corporate tax rate.

18.12.2012 Significant trade agreement between EU and Singapore

The negotiation between European Union and Singapore about the draft of Free Trade Agreement (FTA) have been lasted more than two years. Finally, December 16, 2012 the European Commission and the government of Singapore have agreed upon this question.

17.12.2012 A new proposal law on transfer pricing in Ukraine

Currently under consideration in the Verkhovna Rada a bill on amendments to the Tax Code relating to changes in the legal regulation of transfer pricing. It is necessary to pay attention to the following legislative developments

14.12.2012 Rich Frenchmen escape to Belgium

The application of the Government of France luxury tax, whose rate in 2013 increased to 75%, prompting many rich people in the country to think about moving to more favorable to the rich people Belgium.

13.12.2012 The UK continues levying taxes

The draft budget for 2013 The UK government has provided a new provision - an annual tax for those who own homes worth more than £ 2 million, which are registered to offshore companies.

12.12.2012 U.S. imposes heavy fines on banks

To absolve themselves of charges of violating sanctions against Iran, the British bank Standard Chartered Bank has agreed to pay the U.S. Treasury $ 327 million.

11.12.2012 Hong Kong still at the first position

Up to now Hong Kong has a leading position among the cities of China, but analysts predict that Shanghai may soon catch up with him in many ways.

10.12.2012 Strarbucks and Britain: a new scandal with multinational company

Most recently, a new scandal erupted between the authorities of the United Kingdom and one of the largest multinational companies - American network cafes Starbucks. The scandal was triggered by allegations that the coffee chain does not pay income tax in the UK for 3 years. Authorized UK authorities note that, Starbucks paid only 8.6 million pounds in taxes for 3 years on revenue of 3 billion pounds. In response to this guide Starbucks, so as not to stir up a scandal on and does not get to court, promised to pay into the treasury of the UK 10 million pounds, or 20 million pounds over two years.

07.12.2012 A unified standard for offshore: European Commission takes action on tax evasion

The aim of the European Commission today is to create an effective plan of action to help combat tax evasion. The plan includes the development and introduction of the Code of the taxpayer, the Common EU tax identification number, and the revision and updating of the existing key tax legislation.

06.12.2012 Any percentage is important: Britain lowers taxes

The Government's anti-crisis program is a combination of reducing the budget deficit, increasing the investment attractiveness and many more beautiful things.

05.12.2012 New Zealand will be operating with OECD only

Due to numerous discussions of the issue of taxation of multinational companies (Google, Facebook, Amazon, etc.), the Minister of Finance of New Zealand has decided to clarify the position of his Government.

04.12.2012 Belgium made changes in tax rates

November 21, 2012 the Belgian Government submitted tax changes that had planned in the budget for 2013.

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