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Germany: Federal Fiscal Court Revokes Nonprofit Status of ATTAC

(Mar. 20, 2019) In a decision published on February 27, 2019, the German Federal Fiscal Court (Bundesfinanzhof, BFH), Germany’s supreme court for tax and customs matters, held that the activist group ATTAC was no longer eligible for nonprofit status due to its general political activity and its calls for concrete actions and demands. The BFH […]

China: Rules on Tax Deduction for Elderly Support Released

(Dec. 31, 2018) On December 22, 2018, the State Council of the People’s Republic of China (PRC or China) released the Interim Measures on Additional Special Deductions for Individual Income Taxes. The Measures, among other things, allow a taxpayer to deduct 24,000 Chinese yuan RMB (about US$3,500) per year from taxable income for the sake […]

Sweden: Public TV and Radio Service Fee System Reformed, New Tax Introduced

(Dec. 14, 2018) On November 14, 2018, the Swedish Parliament voted to replace the Swedish public service fee (tv-avgiften), which, under current rules, is paid only by households that have a television set. As of January 1, 2019, the fee will be replaced by a public service tax equal to 1% of the annual income […]

Israel: Tax Authority Notifies Cryptocurrency Owners of Tax Obligations

(Dec. 13, 2018) The Israel Tax Authority (ITA) has recently notified hundreds of Israelis it has identified as receiving income from cryptocurrency that they are required to report on their transactions in bitcoin and other cryptocurrency. The ITA does not consider cryptocurrency as currency but rather as assets subject to property tax at a rate […]

China: E-Commerce Law Passed

(Nov. 21, 2018) On August 31, 2018, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) passed the PRC Electronic Commerce Law. The Law will take effect on January 1, 2019. (Zhonghua Renmin Gongheguo Dianzi Shangwu Fa [PRC Electronic Commerce Law] (promulgated Aug. 31, 2018, effective […]

China: Individual Income Tax Law Revised

(Sept. 24, 2018) On August 31, 2018, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) revised the PRC Individual Income Tax Law (IIT Law). Taking effect on January 1, 2019, the new IIT Law brings significant changes to China’s individual income tax regime. (Zhonghua Renmin […]

Italy: New Law Amends Rules on Fixed-Term Employment Contracts, Delocalization of Companies, and Determining Taxpayer Income

(Aug. 30, 2018) On July 14, 2018, a new law amending rules on fixed-term employment contracts entered into force in Italy. (Decree Law No. 87 of July 12, 2018, Urgent Provisions for the Dignity of Workers and Companies) (D.L. No. 87), GAZZETTA UFFICIALE (G.U.), July 13, 2018 (in Italian), G.U. website.) Covered Contracts The new […]

China: Tax Incentives Extended to More Small Businesses

(Aug. 17, 2018) On July 11, 2018, China’s Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly issued a notice mandating the doubling of the income threshold for small, low-profit companies to be eligible for preferential corporate income-tax incentives. (MOF and SAT, Notice on Further Expanding the Scope of Application of the Preferential […]

Sweden: New Tax on Electronic Cigarettes and Other Non-Tobacco Nicotine Products Takes Effect

(July 26, 2018) On July 1, 2018, a new tax on all e-liquids and similar nicotine products, commonly referred to as e-cigarettes, took effect in Sweden. (Lag om skatt på vissa nikotinhaltiga produkter, SVENSK FÖRFATTNIGNSSAMLING [SFS] 2018:696.) The new provisions subject e-nicotine products to a new targeted 25% value-added-tax (VAT). Previously, these nicotine products were […]