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Israel: Supreme Court Rejects Challenge to Constitutionality of FATCA’s Implementation

(Jan. 25, 2018) On January 2, 2018, Israel’s Supreme Court, sitting as a High Court of Justice, issued its reasoning for its decision of September 12, 2016, rejecting a petition challenging the constitutionality of the Income Tax Ordinance (Amendment No. 227) Law, 5776-2016 (Amendment Law). The main decision was rendered by Justice Hanan Melcer, with […]

New Zealand: New Foreign Trust Disclosure Rules to be Developed Following Release of Panama Papers

On July 13, 2016, the New Zealand government released its response to recommendations that resulted from a review of the country’s foreign trust disclosure rules.  (Press Release, Bill English & Michael Woodhouse, Government to Adopt Shewan Recommendations, BEEHIVE.GOVT.NZ (July 13, 2016); GOVERNMENT INQUIRY INTO FOREIGN TRUST DISCLOSURE RULES (Inquiry Report) (June 2016), Treasury website.)  The […]

China; Council of Europe; Organisation for Economic Cooperation and Development: Ratification of Mutual Assistance Treaty on Tax Matters

(July 10, 2015) On July 1, 2015, China’s legislature, the National People’s Congress, ratified the multilateral 1988 Council of Europe – Organisation for Economic Co-operation and Development (OECD) treaty of mutual assistance in tax matters, as amended by a 2010 protocol. (China (People’s Rep.); Council of Europe; OECD: Convention and Protocol on Mutual Administrative Assistance […]

European Union: EU Signs Agreement with Switzerland to End Banking Secrecy

(June 2, 2015) On May 27, 2015, the European Union and Switzerland signed a new tax transparency agreement. Pierre Moscovici, the EU Commissioner for Economic and Financial Affairs, Taxation and Customs, and Janis Reirs, Latvian Minister of Finance on behalf of the Latvian Presidency of the Council for the EU, and the Swiss State Secretary […]

Oman; Portugal: Convention to Avoid Double Taxation Signed

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

China; Netherlands: Renegotiated Double-Tax Treaty in Force

(Oct. 10, 2014) On August 31, 2014, a new income tax treaty and a protocol signed by China and the Netherlands on May 31, 2013, entered into force. The two instruments apply to income received on or after January 1, 2015. (China and Netherlands Ratify New Tax Treaty and Protocol, TAX ALERT (Aug. 27, 2014).) […]

Austria; Council of Europe; Organisation for Economic Cooperation and Development: Ratification of Tax Convention

(Sept. 10, 2014) On August 28, 2014, Austria deposited its instrument of ratification of the Convention on Mutual Administrative Assistance in Tax Matters. The Convention and its amending Protocol will enter into force for Austria in three months, on December 1. (Convention and Protocol on Mutual Administrative Assistance in Tax Matters – Austria Deposits Instruments […]