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French Polynesia: New Law Gives Tax Breaks to Some Large Investors

(June 10, 2014) On May 26, 2014, a law was adopted establishing the tax rules for large-scale investments in hotels and tourist businesses in French Polynesia. (Law No. 2014-12, Loi de pays instituant un dispositif en faveur des grands investissements hôteliers et touristiques [National Law on a Measure for the Benefit of Large Investments in […]

Algeria: New Mining Law Adopted

(May 30, 2014) On February 24, 2014, Algeria adopted a new Mining Law, Law 14-05. It was published in issue 18 of the Official Gazette on March 30. (Imène Boukadoum & Madonna Gerber, Algeria: Entry into Force of the New Mining Law, LEXOLOGY (Apr. 29, 2014); Ridha Hamzaoui, Algeria: New Mining Law Published, TAX NEWS […]

Ukraine: Verkhovna Rada Acts to Save the Economy

(Apr. 25, 2014) On March, 27, 2014, the Verkhovna Rada (Ukraine’s legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. 27, 2014), Verkhovna Rada website.) The Law entered into force on April 1, 2014, immediately after its […]

Finland: Amendment of List of Countries Subject to Controlled Foreign Company Legislation

(Feb. 4, 2014) The Ministry of Finance (Valtiovarainministeriö) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the tax imposed in Finland. The countries on the list, sometimes called the black or gray list, […]

Curacao: New Export Regime in Place as Old One Is Being Grandfathered

(Jan. 22, 2014) Curaçao instituted a new export regime on January 1, 2014. The country’s Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to companies that derive 90% or more of their profits from such goods and services, the regime […]

Romania: Government Approves New Taxation Measures

(Dec. 18, 2013) Romania’s Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter into force on January 1, 2014. (Oana Popa, Romania: Tax Code Amendments Approved – Direct Taxes, […]

European Union: New Rules Proposed to Fight Tax Evasion

(Dec. 13, 2013) Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidance. On November 25, 2013, in an effort to combat this problem, the Commission adopted a proposal to […]