Global Tax News and Analysis
Switzerland, Ireland Sign Revised Double Taxation TreatyGENEVA — Switzerland and Ireland have signed a revised double taxation treaty enhancing cross-border information exchange in tax investigations. In a statement, the Swiss Federal Department of Finance said the accord, signed in Dublin Jan. 26, is based on international information exchange provisions set out by the Organization for Economic Cooperation... [Read more of this article]
Shanghai VAT pilot: Clarification of zero rate/exemption for services provided to overseas entities
Sarah Chin, Gao Li Qun and Candy Tang, Deloitte, Shanghai I. Introduction China’s Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly issued widely anticipated guidance on December 29, 2011 that clarifies the scope of taxable services eligible for the zero rate or exemption under the VAT reform pilot program in Shanghai... [Read more of this article]
France and Luxembourg Cut VAT On E-books, Breaking Away From EU Policy
Rick Mitchell PARIS — France and Luxembourg implemented measures Jan. 1 that slash valued-added tax rates applying to electronic book sales, becoming the first European Union member countries to challenge EU policy that allows traditional printed books and audio books, but not e-books, to benefit from so-called preferential VAT rates. On the first... [Read more of this article]
Australia: Update on GST and grants
Stephen O’Flynn and Andrew Cromb, Moore Stephens, Melbourne On November 2, 2011 the Australian Taxation Office released Draft GST Ruling GSTR 2011/D4: Grants of Financial Assistance (the “Draft Ruling”). The draft ruling represents a substantial rewrite of an earlier ruling on the same topic, GSTR 2000/11 (the “Old Ruling”), and follows... [Read more of this article]
Advance pricing agreements: A comparison between China and Germany
Holger M. Peters, Nadine Baltzer and Leonard Zhang, KPMG Germany and China The authors would like to thank Mr. Cheng Chi (Partner-in-Charge of Global Transfer Pricing Services in China & Hong Kong SAR) for his support in preparing this article. In China, the State Administration of Taxation (“SAT”) issued new transfer pricing regulations on... [Read more of this article]
Read More Posts From Global Tax News and Analysis