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Denmark: Government Agreement Reached to Restore Tax Deduction for Remuneration for Household Services

(July 2, 2015) Denmark’s Ministry of Taxation announced on June 29, 2015, that a scheme for deducting remuneration for certain household services, referred to as BoligJobordning (household employment scheme), which had been abolished as of January 1, 2015, has been reintroduced, with retroactive effect from that date of abolition. The government had reached agreement on […]

Sweden: Tax Authority Publishes Guidelines for Income Tax on Bitcoin Mining, Suggests Prohibition of Bitcoin Use in Waste and Scrap Metal Transactions

(May 20, 2015) On April 24, 2015, just days before the May 4 tax filing deadline, Sweden’s Tax Authority published guidelines on how to declare income from Bitcoin mining. (Beskattning vid mining av bitcoin och andra virtuella valutor m.m. [Guidelines on the Taxation of Mining of Bitcoins and Other Virtual Currencies] (Apr. 24, 2015), Dnr […]

Oman; Portugal: Convention to Avoid Double Taxation Signed

(May 7, 2015) The Portuguese Secretary of State for Fiscal Affairs, Paulo Nuncio, and the Ambassador of the Sultanate of Oman in Portugal, Humaid Al Maani, recently signed a convention to avoid double taxation and fiscal evasion in connection with income taxes of the residents of Portugal and Oman. (Portugal e Oman Assinam Convenção para […]

Montenegro: Reform of Tax System Announced

(Feb. 11, 2015) Montenegro, a small nation in southeastern Europe that become independent from Serbia on June 3, 2006, published an economic reform program for the years 2015-2017 on February 3, 2015. (Ivana Kireta, Montenegro: Tax Reform Announced (Feb. 5, 2015), TAX NEWS SERVICE, IBFD online subscription database; Central Intelligence Agency, Montenegro, in WORLD FACTBOOK […]

Mongolia: Decision on Increasing Civil Servant Salaries and Pensions

(Feb. 2, 2015) It was reported on January 19, 2015, that on January 15, the Mongolian government issued a decision to increase salaries and pensions for the country’s civil servants by 10%. The move is based on the Agreement of Labor and Society, a municipal labor concession agreement reached by the Trilateral National Commission for […]

Turkey: New Individual Income Tax Rates, Blacklist of Taxpayers with Large Amounts of Unpaid Taxes

(Jan. 26, 2015) Turkey’s Ministry of Finance published new rates for individual income tax on December 30, 2014, in the country’s official gazette. The amounts and rates are as follows: Taxable income (in TRL)/Tax on lower amount/Rate on excess over the minimum income in each category: Up to 12,000 (about US$5,120)/ 0/15%; From 12,000 – […]

Iceland: 2015 and 2016 Tax Measures

(Dec. 31, 2014) Iceland’s Parliament, the Alþingi, approved legislation on December 16, 2014, that amends a number of the country’s tax laws. Except where otherwise noted, the changes take effect from January 1, 2015. (Hjordis B. Gunnarsdottir, Iceland: Some Budget Measures Adopted, TAX NEWS SERVICE (Dec. 18, 2014), International Bureau of Fiscal Documentation (IBFD) online […]

Australia: Tax Office Releases Guidance Paper and Draft Rulings on Bitcoin

(Aug. 25, 2014) On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The documents were released in time for taxpayers to take them into account in completing their […]

Italy: Measures to Enhance Protection of Cultural Patrimony

(Aug. 12, 2014) Decree-Law No. 83 of 2014, which entered into effect on July 31, 2014, establishes urgent tax, financial, and administrative measures aimed at the protection and promotion of Italy’s cultural patrimony and the national tourism industry. (Decreto-Legge 31 maggio 2014, n. 83, Disposizioni urgenti per la tutela del patrimonio culturale, lo sviluppo della […]

Saudi Arabia: Income Tax Rules Amended

(Apr. 30, 2014) On March 19, 2014, Saudi Arabia’s Minister of Finance amended several articles of a regulation issued under the country’s Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, TAX NEWS SERVICE (Apr. 25, 2014), International Bureau of Fiscal Documentation, online subscription database; Income Tax […]