Law Library of Congress - Global Legal Monitor: Global Legal Monitor: Taxation http://www.loc.gov/lawweb/servlet/lloc_news?home The Global Legal Monitor is an online publication from the Law Library of Congress covering legal news and developments worldwide. It is updated frequently and draws on information from the Global Legal Information Network, official national legal publications, and reliable press sources. You can search previous news by searching the archive. en-us Global Legal Monitor: Bahamas: Parliament to Consider VAT Legislation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404099_text Taxation; Value-added tax - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 14 Aug 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404099_text Global Legal Monitor: Finland: Public Register Proposed for Tax Debts of Enterprises http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403790_text Corporations; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 23 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403790_text Global Legal Monitor: Romania: Government Approves New Taxation Measures http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403791_text Corporate income tax; Income tax; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 18 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403791_text Global Legal Monitor: Burundi: New Mining Code Replaces 1976 Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403795_text Mining; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 18 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403795_text Global Legal Monitor: Gambia: National Assembly Approves Renewable Energy Legislation by Unanimous Vote http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403796_text Energy; Energy efficiency and conservation; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 18 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403796_text Global Legal Monitor: European Union: New Rules Proposed to Fight Tax Evasion http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403789_text Corporate income tax; Tax avoidance; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 13 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403789_text Global Legal Monitor: Belarus: People Will Be Taxed for Not Working http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403770_text Employee hiring; Income tax; Labor; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 26 Nov 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403770_text Global Legal Monitor: Poland: Corporate Taxation Changes http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403768_text Corporations and associations; Partnerships; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 25 Nov 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403768_text Global Legal Monitor: Switzerland; United States: Agreement on Tax Dispute http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403727_text International affairs; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 17 Oct 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403727_text Global Legal Monitor: Burundi: New Procedural Code for Administration of Taxation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403725_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 30 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403725_text Global Legal Monitor: Latvia: New Policy on Prior Notice of Audits http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403697_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 10 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403697_text Global Legal Monitor: Mozambique: Excise, Customs Changes Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403698_text Customs enforcement; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 10 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403698_text Global Legal Monitor: Italy: Tax Incentives and Other Measures to Tackle Youth Unemployment http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403693_text Children; Labor; Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013],... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 09 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403693_text Global Legal Monitor: Ghana: Tax Measures Introduced http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403645_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 18 Jul 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403645_text Global Legal Monitor: Czech Republic: Tax Revisions Considered http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403601_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 28 May 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403601_text Global Legal Monitor: Finland: Tax Incentives for Investment in Small Companies http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403603_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 28 May 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403603_text Global Legal Monitor: Poland: Proposed Measures to Combat Tax Avoidance http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403526_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 25 Mar 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403526_text Global Legal Monitor: Poland: Income Tax Laws Modified http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403518_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 13 Mar 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403518_text Global Legal Monitor: Singapore: Guidance on Taxation of Property Developers Issued http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403514_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 11 Mar 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403514_text Global Legal Monitor: Finland: Decree on Bank Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403502_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 04 Mar 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403502_text Global Legal Monitor: Denmark: Proposal for Cut in Corporate Tax Rate http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403499_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 28 Feb 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403499_text Global Legal Monitor: Vietnam: Government Offers Tax Relief Measures http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403498_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 27 Feb 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403498_text Global Legal Monitor: Congo, The Democratic Republic of the: New Tax Measures Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403466_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 31 Jan 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403466_text Global Legal Monitor: Algeria: New Finance Law Published http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403464_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 23 Jan 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403464_text Global Legal Monitor: Brazil: New Law Requires Listing of Taxes on Receipts http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403435_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 28 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403435_text Global Legal Monitor: Denmark: Tax Authorities Clarify Moonlighting Rules http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403429_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 11 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403429_text Global Legal Monitor: Dominican Republic: Tax Law Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403430_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 11 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403430_text Global Legal Monitor: Taiwan; Thailand: Avoidance of Double Taxation Agreement Signed http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403423_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 05 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403423_text Global Legal Monitor: Egypt: Government Decides to Postpone Implementation of Real Property Tax Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403400_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 09 Nov 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403400_text Global Legal Monitor: Court of Justice of the European Union: Decision on Taxation of Non-Resident Companies http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403382_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 07 Nov 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403382_text Global Legal Monitor: Jamaica: Tax Exemption for Officers of Foreign Company Headquarters http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403380_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 25 Oct 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403380_text Global Legal Monitor: Sweden: Proposed Reduction in Corporate Tax Rate http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403335_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 24 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403335_text Global Legal Monitor: Denmark: Tax Amnesty Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403329_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 14 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403329_text Global Legal Monitor: China: Surcharge on Electronic Waste Takes Retroactive Effect http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403322_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 12 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403322_text Global Legal Monitor: Finland: Tax on Public Broadcasting http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403318_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 07 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403318_text Global Legal Monitor: Netherlands: Unilateral Decree on Avoidance of Double Taxation Amended Due to Introduction of New Tax on Banks http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403304_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 30 Aug 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403304_text Global Legal Monitor: Luxembourg: VAT Rules Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403288_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 17 Aug 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403288_text Global Legal Monitor: Finland: Proposal to Extend Sugar Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403242_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 16 Jul 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403242_text Global Legal Monitor: European Union: Commission Recommends Measures to Fight Tax Evasion http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403224_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 02 Jul 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403224_text Global Legal Monitor: Netherlands: New Bank Tax Under Consideration by Parliament http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403221_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 28 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403221_text Global Legal Monitor: Denmark: Changes in Corporate Tax and Withholding Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403208_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp;... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 26 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403208_text Global Legal Monitor: Hungary: Telecom Tax Bill http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403184_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.)... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 07 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403184_text Global Legal Monitor: Italy: Boat Tax Clarified http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403182_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 06 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403182_text Global Legal Monitor: Singapore: Tax Rule Clarified http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403179_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 05 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403179_text Global Legal Monitor: Taiwan: Cabinet Approves Capital Gains Tax Proposal http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403121_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 30 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403121_text Global Legal Monitor: Poland: Tax on Metal Exploitation Introduced http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403087_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 12 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403087_text Global Legal Monitor: European Union: Benefits of a Proposal for a Financial Transaction Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403079_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 12 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403079_text Global Legal Monitor: Gabon: 2012 Tax Incentives http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403072_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 05 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403072_text Global Legal Monitor: Denmark: Tax on Sugar Proposed http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403023_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 13 Mar 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403023_text Global Legal Monitor: Netherlands: Belgian Employees May Lose Tax Deferral http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402931_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 30 Dec 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402931_text Global Legal Monitor: Denmark: Higher Pollution Tax to Take Effect http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402926_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 27 Dec 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402926_text Global Legal Monitor: China: Regulations on Resource Tax Revised http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402925_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 22 Dec 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402925_text Global Legal Monitor: Israel: Exemption from Fee for Television Possession http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402894_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 23 Nov 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402894_text Global Legal Monitor: Organisation for Economic Cooperation and Development: Convention on Mutual Administrative Assistance in Tax Matters http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402885_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 16 Nov 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402885_text Global Legal Monitor: Latvia: Law on Taxes and Fees Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402876_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 07 Nov 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402876_text Global Legal Monitor: France: Database EVAFISC Lawful http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402846_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 11 Oct 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402846_text Global Legal Monitor: France: Amended Financial Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402829_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE).... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 03 Oct 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402829_text Global Legal Monitor: Spain: Reinstatement of Wealth Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402825_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 28 Sep 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402825_text Global Legal Monitor: Greece: Government Introduces New Special Tax on Real Estate http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402816_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 22 Sep 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402816_text Global Legal Monitor: Indonesia: Tax Holiday for Innovators http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402779_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 17 Aug 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402779_text Global Legal Monitor: Russia: Foreign Donations to Russian NGOs Are Exempt from Taxation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402768_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 04 Aug 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402768_text Global Legal Monitor: Italy: Government Approves Austerity Package http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402752_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 20 Jul 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402752_text Global Legal Monitor: Germany: Tax Credit for Dividends (the Meilicke II Decision) http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402745_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 18 Jul 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402745_text Global Legal Monitor: China: Individual Income Tax Law Revised http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402742_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 11 Jul 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402742_text Global Legal Monitor: China: Collection of Individual Income Tax on High-Income Earners to Be Strengthened http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402713_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 20 Jun 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402713_text Global Legal Monitor: Netherlands: More Legal Protection for Taxpayers Against Audits http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402707_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 14 Jun 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402707_text Global Legal Monitor: European Union: Draft Directive on a Common Consolidated Corporate Tax Base http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402698_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 03 Jun 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402698_text Global Legal Monitor: Hungary: Hamburger Tax Under Consideration http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402573_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 17 Mar 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402573_text Global Legal Monitor: Taiwan: Luxury Tax Proposed by Ministry of Finance http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402554_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 04 Mar 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402554_text Global Legal Monitor: Sri Lanka: Transfer Tax for Long-Term Land Leases to Foreigners http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402516_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 14 Feb 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402516_text Global Legal Monitor: France: 2011 Finance Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402499_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 02 Feb 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402499_text Global Legal Monitor: Greece: New Bill on Tax Evasion and Measures to Assist Greek Economy http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402491_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 31 Jan 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402491_text Global Legal Monitor: Thailand: Green Corporate Tax Incentive http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402427_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 16 Dec 2010 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402427_text Global Legal Monitor: China: Case on Determination of Permanent Establishment of U.S. Company http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402402_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 01 Dec 2010 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402402_text Global Legal Monitor: Serbia: New Rules on Tax Residence Forms http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402372_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 16 Nov 2010 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402372_text Global Legal Monitor: Italy: Clarification of Aspects of Taxation of Resident Entities in Black-Listed Jurisdictions http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402363_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 09 Nov 2010 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402363_text Global Legal Monitor: Organisation for Economic Cooperation and Development: New Study on Voluntary Disclosure of Offshore Assets http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402355_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 08 Nov 2010 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402355_text Global Legal Monitor: Italy: Recent Circulars Issued on VAT and Black-Listed Jurisdictions http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402354_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 04 Nov 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402354_text Global Legal Monitor: Switzerland: Fees for Exchange of Tax Information Proposed http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402327_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 21 Oct 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402327_text Global Legal Monitor: European Union: European Commission Issues Communication on Imposing Taxes in the Financial Sector http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402328_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 21 Oct 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402328_text Global Legal Monitor: Netherlands: 2011 Tax Proposals http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402267_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 23 Sep 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402267_text Global Legal Monitor: Germany: Tax Treatment of European Losses http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402224_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 09 Sep 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402224_text Global Legal Monitor: Angola: New Tax Regime to Be Instituted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402218_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 08 Sep 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402218_text Global Legal Monitor: Germany: Equal Tax Treatment for Same-Sex Partnerships Required http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402211_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 03 Sep 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402211_text Global Legal Monitor: Switzerland: Exchange of Tax Information http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402212_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 03 Sep 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402212_text Global Legal Monitor: Iceland: Tax Concessions and Relief http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402184_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 24 Aug 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402184_text Global Legal Monitor: United Kingdom: Illegal Immigrant Jailed for 500,000 Tax Fraud http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402162_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 16 Aug 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402162_text Global Legal Monitor: Turkey: New Employment Income Tax Rates http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402157_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 12 Aug 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402157_text Global Legal Monitor: Finland: Budget Proposal Foresees Higher Energy, Sweets, and Soft Drink Taxes http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402138_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun According to a press release issued by Finland's Ministry of Finance on July 28, 2010, the 2011 budget proposal is for 50.4 billion (about US$65.8 billion), with the budget deficit at 8.7 billion (about US$11.4 billion).... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 02 Aug 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402138_text Global Legal Monitor: Spain: Code of Good Tax Practices Claimed a First http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402135_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun According to a press release issued by Finland's Ministry of Finance on July 28, 2010, the 2011 budget proposal is for 50.4 billion (about US$65.8 billion), with the budget deficit at 8.7 billion (about US$11.4 billion). Spain's Tax Forum of Big Companies, which comprises the National Tax Agency and 27 of the country's largest companies, approved a Code of Good Tax Practices on July 20, 2010. Spain is the first country to... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 30 Jul 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402135_text Global Legal Monitor: Organisation for Economic Cooperation and Development: Model Tax Convention Updated http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402122_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun According to a press release issued by Finland's Ministry of Finance on July 28, 2010, the 2011 budget proposal is for 50.4 billion (about US$65.8 billion), with the budget deficit at 8.7 billion (about US$11.4 billion). Spain's Tax Forum of Big Companies, which comprises the National Tax Agency and 27 of the country's largest companies, approved a Code of Good Tax Practices on July 20, 2010. Spain is the first country to The Council of the Organisation for Economic Co-Operation and Development (OECD) approved an update to the OECD Model Tax Convention on July 22, 2010. The last update was made in 2008. As had been anticipated in... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 26 Jul 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402122_text Global Legal Monitor: China: Business Tax Exemptions http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402104_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun According to a press release issued by Finland's Ministry of Finance on July 28, 2010, the 2011 budget proposal is for 50.4 billion (about US$65.8 billion), with the budget deficit at 8.7 billion (about US$11.4 billion). Spain's Tax Forum of Big Companies, which comprises the National Tax Agency and 27 of the country's largest companies, approved a Code of Good Tax Practices on July 20, 2010. Spain is the first country to The Council of the Organisation for Economic Co-Operation and Development (OECD) approved an update to the OECD Model Tax Convention on July 22, 2010. The last update was made in 2008. As had been anticipated in On June 28, 20210, China's State Administration of Taxation issued a ruling exempting certain proceeds from business taxation. The exempted proceeds are those earned through providing overseas, immobile telecommunications network resources, including circuits, submarine cables, and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 13 Jul 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402104_text Global Legal Monitor: Romania: Tax Ordinance Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402070_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun According to a press release issued by Finland's Ministry of Finance on July 28, 2010, the 2011 budget proposal is for 50.4 billion (about US$65.8 billion), with the budget deficit at 8.7 billion (about US$11.4 billion). Spain's Tax Forum of Big Companies, which comprises the National Tax Agency and 27 of the country's largest companies, approved a Code of Good Tax Practices on July 20, 2010. Spain is the first country to The Council of the Organisation for Economic Co-Operation and Development (OECD) approved an update to the OECD Model Tax Convention on July 22, 2010. The last update was made in 2008. As had been anticipated in On June 28, 20210, China's State Administration of Taxation issued a ruling exempting certain proceeds from business taxation. The exempted proceeds are those earned through providing overseas, immobile telecommunications network resources, including circuits, submarine cables, and On June 23, 2010, Romania published an Emergency Ordinance designed to combat tax evasion and improve the collection of taxes (Ordinance No. 54, Official Gazette No. 421). Its provisions come into force at various times between... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 25 Jun 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402070_text Global Legal Monitor: Taiwan: Corporate Income Tax Reduced to 17% http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402066_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy, Thailand's Cabinet on November 9, 2010, approved the issuance of a royal decree that exempts companies from the payment of corporate tax on income derived from the sale of Certified Emission Reduction Credits (CERs) and Verified A case in China's Jiangxi Province involving an American company's permanent establishment there has resulted in the company's being assessed by the tax authorities for payment of RMB12 million (about US$1.8 million). The company in the Serbia's Minister of Finance adopted a rulebook on tax residence certificate forms on October 21, 2010, that will become effective on January 1, 2011. As of that date, tax residence certificates for residents of Serbia, based The Italian Tax Authority (Agenzia delle Entrate, ITA) issued Ministerial Circular No. 51/E on October 6, 2010, to clarify the rules on controlled foreign corporations (CFCs) found in Law No. 102/2009 and also to clarify the In September 2010, the Organisation for Economic Co-operation and Development (OECD) issued a new study on programs for the voluntary disclosure of offshore undisclosed income and/or assets under the tax administrations of various countries. (OECD, OFFSHORE Two circulars issued recently by the Italian Tax Authority (ITA) (Agenzia delle Entrate) seek to clarify the valued-added-tax (VAT) regime, in connection with black-listed countries. The black-listed countries are tax havens, whose rate of taxation is On October 18, 2010, the Finance Committee of the National Council (Nationalrat), the representative chamber of the Swiss bicameral Parliament, submitted a motion to the Federal Council (Bundesrat), the executive branch of the Swiss government, requesting The recent financial crisis, which unfolded in Europe and elsewhere, coupled with a variety of other emerging issues including climate change and resource efficiency which entail certain financial obligations, led the three institutions, the European Commission, On September 21, the Minister of Finance of the Netherlands presented to the Lower House of the Parliament the 2011 plan for Dutch taxes, to apply from January 1, 2011. Details of the plan affecting direct On June 9, 2010, the German Federal Fiscal Court (Bundesfinanzhof) issued two decisions that describe the circumstances under which losses incurred by a permanent establishment in a foreign country can be claimed as a deduction by During a news conference on Friday, September 4, 2010, the Angolan Minister of State, Carlos Feijo, was quoted as saying that the government will soon revise the country's tax regime. According to Feijo, the revised tax On July 21, 2010, the German Federal Constitutional Court held that the constitutional guarantee of equality requires that the inheritance tax applicable to the survivors of same-sex partnerships must be as favorable as that applied to On September 1, 2010, the Swiss Federal Council (Bundesrat, Federal Cabinet) adopted the Regulation on Administrative Assistance Accorded to Double Taxation Conventions (Amtshilfeverordnung [Administrative Assistance Regulation], advance copy, Federal Administration of the Swiss Federation website, In June 2010 Iceland's Parliament (Alandthorn;ingi) approved several measures related to taxation. Temporary legislation approved on June 15 makes concessions available for direct investment in the country. It will remain in effect until December 31, 2013 Dmytro Shepel, an illegal immigrant originally from Ukraine but living in the United Kingdom under a false Lithuanian identity and passport, has recently been sentenced to imprisonment for three and a half years for tax fraud. Law 6009, amending Turkey's individual income tax brackets with retrospective effect from January 1, was published in the country's OFFICIAL GAZETTE on August 1,2010 (Gvergisi kanunuile bazi kanun ve kanun hukmunde kararnamelerde deand#287;iand#351;iklik yapilmasina dair kanun According to a press release issued by Finland's Ministry of Finance on July 28, 2010, the 2011 budget proposal is for 50.4 billion (about US$65.8 billion), with the budget deficit at 8.7 billion (about US$11.4 billion). Spain's Tax Forum of Big Companies, which comprises the National Tax Agency and 27 of the country's largest companies, approved a Code of Good Tax Practices on July 20, 2010. Spain is the first country to The Council of the Organisation for Economic Co-Operation and Development (OECD) approved an update to the OECD Model Tax Convention on July 22, 2010. The last update was made in 2008. As had been anticipated in On June 28, 20210, China's State Administration of Taxation issued a ruling exempting certain proceeds from business taxation. The exempted proceeds are those earned through providing overseas, immobile telecommunications network resources, including circuits, submarine cables, and On June 23, 2010, Romania published an Emergency Ordinance designed to combat tax evasion and improve the collection of taxes (Ordinance No. 54, Official Gazette No. 421). Its provisions come into force at various times between On June 15, 2010, an amendment to Taiwan's Income Tax Act was published that reduced the corporate income tax rate from 20% to 17%. (Text of the amendment [in Chinese], 6927 TSUNG-T'UNG Fu KUNG-PAO [Gazette of... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 24 Jun 2010 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402066_text Global Legal Monitor: Albania: New Tax on Use of State-Owned Land http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402044_text Taxation - The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt 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 On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use 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 avoidanceThe Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005. Law 2010-1657 of December 29, 2010, on Finances for 2011 contains measures aimed at reducing France's public deficit from a level of 7.7% of the gross domestic product to 6%. The ultimate goal is to reduce On January 25, 2011, the Greek Ministry of Finance submitted to the legislature a new, much-anticipated tax bill, which aims, through the adoption of a number of significant initiatives, to improve and revive the ailing economy