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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).) […]

Hungary: Broad Tax Reforms Adopted

(Nov. 28, 2016) The Hungarian Parliament adopted a number of tax reforms on November 22, 2016. The tax package is aimed at enhancing the competitiveness of small and medium enterprises by giving them more incentives, cutting bureaucracy, and combatting the black market.  (Parliament Adopts Tax Package Designed to Cut Red Tape and Provide SME Incentives, […]

Cambodia: Draft Financial Management Law Considered

(Nov. 18, 2016) It was reported on November 15, 2016, that a draft Law on Financial Management 2017 is being discussed in the Cambodian National Assembly, with the expectation that legislators will pass the draft document in December and that it will enter into force in January 2017.   (Janice Loke, Cambodia: Draft 2017 Law on […]

Belarus: Further Amendments to Tax Rules

(Nov. 14, 2016) On October 26, 2016, Belarus published amendments to its Tax Code that had been adopted on October 18, 2016, as Law No. 432-Z. (Viktar Strachuk, Belarus: Tax Code Amendments for 2017 – Additional Details, TAX NEWS SERVICE (Nov. 7, 2016), International Bureau of Fiscal Documentation online subscription database (IBFD); Tax Code of […]

Taiwan: VAT on Cross-Border Sale of Digital Services

(Nov. 9, 2016) On September 22, 2016, Taiwan’s Executive Yuan (Cabinet) approved draft legislation to amend the Value-Added Tax Act with regard to cross-border sales of digital services. (You Kang Jin, Taiwan: Draft Bill Passed to Amend VAT Act on Cross-Border Sale of Digital Services, TAX NEWS SERVICE (Sept. 26, 2016), International Bureau of Fiscal […]

Vietnam: Tax Law Amendments Aimed at Improving Conditions for Businesses

(Sept. 12, 2016) In July 2016, the Vietnamese government issued Decree No. 100/2016/ND-CP that revises several tax-related policies. It is designed to help with the implementation of the Amended Tax Law of April 2016, which came into force on July 1. The Decree has a goal of improving conditions for businesses. (New Decree Revises a […]

Georgia: New Legislation Simplifies Tax Code

(Sept. 2, 2016) On May 13, 2016, the Parliament of Georgia unanimously approved amendments to the country’s Tax Code. (Law of Georgia No. 5092 on Amendments to the Tax Code of Georgia, MATSNE.GOV.GE (June 1, 2016) (official publication) (in Georgian).) The amendments mainly address corporate income taxation of profit-sharing companies, aligning the national tax system […]

Azerbaijan: Tax Reform Proposed

(Aug. 31, 2016) On August 4, 2016, the President of Azerbaijan, Ilham Aliyev, issued a decree approving the Basic Principles of the Tax Reform Planned for 2016 and Guidelines for Streamlining Tax Collection. The decree orders the Taxation Ministry to draft, within the next three months, a detailed proposal that would bring current tax legislation […]

Kazakhstan: Zero VAT Rate Established for Some Goods

(Aug. 15, 2016) On July 29, 2016, Kazakhstan adopted Resolution No. 444, amending Resolution No. 1197 of September 14, 2012, and providing a list of goods for which the value-added tax rate is zero for transactions in special economic zones. The new Resolution was published in the country’s official gazette on August 4, becoming effective […]

Sweden: Supreme Administrative Court Rules Trade in Bitcoins Not Subject to VAT

(Feb. 4, 2016) On February 2, 2016, the Swedish Supreme Administrative Court issued a ruling that trade in Bitcoins is not subject to value-added tax (VAT). (Högsta förvaltningsdomstolens dom [Supreme Administrative Court’s Judgment] (SAC Judgment), Nr. 7101-13 (Feb. 2, 2016).) The judgment was based on a case in which the Swedish Tax Authority had appealed […]