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United Arab Emirates: New Law Issued Creating Value-Added Tax on Transactions

(Oct. 3, 2017) On August 28, 2017, the United Arab Emirates (UAE) Ministry of Finance announced the issuance of Federal Law No. 8 of 2017 on Value-Added Tax (VAT). (Federal Law No. 8 of 2017 on VAT, UAE Ministry of Finance website (Aug. 28, 2017) (click on the PDF icon to view text of the law).) […]

Germany: Nonprofits May Engage in Non-Partisan Politics Without Losing Tax-Exempt Status

(Sept. 8, 2017) In a decision published on August 9, 2017, the German Federal Financial Court (Bundesfinanzhof, BFH) held that nonprofit corporations may engage in non-partisan politics without losing their tax-exempt status. (Bundesfinanzhof [BFH] [Federal Financial Court], docket no. X R 13/15 (Aug. 9, 2017), BFH website in German).) The Court stated that a nonprofit corporation […]

Thailand: Land, Building Tax Draft Considered

(Sept. 5, 2017) Thailand is considering changes to its land and buildings tax, including a provision to allow local authorities in the future to appraise property values. The current system in which sometimes rental income is used to determine tax liability will be ended.  A draft bill on the subject, prepared by the Council of […]

Sri Lanka: Supreme Court Rules Against New Tax Law

(Aug. 28, 2017) On August 4, 2017, the Speaker of the Sri Lankan Parliament, Karu Jayasuriya, announced that he had been informed that the Supreme Court would not approve the proposed new Inland Revenue Act. (Sri Lanka’s Supreme Court Shoots Down Tax Reforms, DAILY STAR (Aug. 6, 2017).)  Under the Constitution of Sri Lanka, the […]

Sri Lanka: New Tax Law Designed to Facilitate Investment

(July 20, 2017) Sri Lanka’s parliament recently adopted new tax legislation. Sri Lanka’s Minister of Finance and Media, Mangala Samaraweera, described the new Inland Revenue Act as designed to make the country attractive to investors. Provisions that will broaden the tax base and simplify the system, he says, will create an investor-friendly atmosphere.  (Sri Lanka’s […]

Burma: 2017 Union Tax Law Passed

(Mar. 30, 2017) The legislature of Burma (also known as Myanmar) passed the Union Tax Law 2017 (UTL) on March 1, 2017; it will come into force on April 1, 2017. (Suet Yen Loo, Myanmar: Union Tax Law 2017 Adopted, TAX NEWS SERVICE (Mar. 27, 2017), International Bureau of Fiscal Documentation online subscription database (IBFD); Law Draft […]

Indonesia: Proposed Legislation on Tobacco Could Increase Domestic Production

(Mar. 24, 2017) The House of Representatives of Indonesia is considering a proposed law that could increase the country’s tobacco output. (Eveline Danubrata & Agustinus Beo Da Costa, Indonesia Tobacco Bill Would Fire up Output Despite Health Fears, REUTERS (Mar. 15, 2017).) The bill is listed among “priority legislation” on the legislative website. (RRU Tentang […]

Taiwan: Amendment of Long-Term Care Act

(Mar. 23, 2017) Taiwan’s Long-Term Care Services Act, which was promulgated on June 3, 2015, but is not slated to become law until June 2017, was amended effective January 28, 2017. (Long-Term Care Services Law: Amendment of Long-term Care Services Law Revises Articles 15, 22, 62 and 66, THE GAZETTE OF THE OFFICE OF THE […]

Taiwan: Proposed Amendments to Tobacco and Alcohol Tax

(Mar. 20, 2017) The Finance Committee and the Social Welfare and Environmental Health Committees of Taiwan’s Legislative Yuan (the main parliamentary body) approved a draft amendment to the Tobacco and Alcohol Tax Act on March 13, 2017. (You Kang Yin, Taiwan: Draft Amendment to Tobacco and Alcohol Tax Law – Released, TAX NEWS SERVICE (Mar. […]