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Italy: New Legislation on Cooperation Between Taxpayers and Tax Authorities

(Oct. 1, 2015) On September 2, 2015, new legislation on taxation entered into effect in Italy. (Legislative Decree No. 128 of August 5, 2015, Provisions on Legal Certainty in the Relationship Between the Treasury and the Taxpayer, Pursuant to Articles 5, 6 and 8, Paragraph 2, of Law No. 23 of March 11, 2014 [L. D. […]

Zambia: Mines and Minerals Bill and Related Income Tax Amendment Bill Tabled in Parliament

(July 8, 2015) On June 25, 2015, Zambia’s Minister of Mines, Energy and Water Development submitted the Mines and Minerals Development Bill, 2015 to the National Assembly (parliament) for a first reading. (Pamela Chitulang’oma, Zambia: Mines and Minerals Development Bill Presented to Parliament, TAX NEWS SERVICE (June 30, 2015), International Bureau of Fiscal Documentation online […]

Indonesia: Extended Tax Holiday for Some Corporations Proposed

(July 6, 2015) Indonesia’s government is planning to revise the country’s corporate tax structure next month. The changes will amend the tax holiday regulation and are designed to encourage investment and economic growth. (Esther Samboh & Anggi M. Lubis, Govt to Expand Corporate Tax Discounts, JAKARTA POST (June 29, 2015).) Under the new rules being […]

Italy: New Legislation Against Public Corruption and Organized Crime

(June 25, 2015) On June 14, 2015, new legislation fighting criminal conduct against the state, organized crime activities, and false accounting reporting entered into effect in Italy. (Law No. 69 of May 6, 2015, Provisions on Crimes Against the Public Administration, Mafia-Type Associations and False Accounting, GAZETTA UFFICIALE No. 124 (May 30, 2015), NORMATTIVA (in […]

Belarus: Edict Establishes Rules for Forex Companies

(June 15, 2015) A presidential edict was issued on June 4, 2015, that outlines policy for foreign exchange companies in Belarus. According to Edict No. 231, which will come into effect in about nine months, only legal persons registered in Belarus and listed as forex companies with capital of at least BYR2 billion (about US$129,000), […]

Maldives: Procedure for Business Tax Exemption for Ships and Aircraft

(May 15, 2015) The Maldives Inland Revenue Authority issued a tax ruling on May 3, 2015, that outlines the procedure to be followed for owners or charterers of ships or aircraft when they apply for exemptions from business profit tax. (Aiman Ibrahim, Maldives Government Issues Procedure to Exempt Business Profit Tax, TAX NEWS SERVICE (May […]

China: Tax Incentives for Encouraged Industries in Western Regions

(Mar. 24, 2015) On March 10, 2015, China’s State Administration of Taxation (SAT) issued a clarification of corporate income tax issues in connection with the Catalog of Encouraged Industries in Western Regions. The SAT clarification applies retroactively from October 1, 2014, the date when the Catalog entered into force. (Shiqi Ma, Tax Incentives for Western […]

China: New Tax Reporting Rules for Overseas Investments of Resident Enterprises

(July 9, 2014) On June 30, 2014, China’s State Administration of Taxation (SAT) issued a public notice regarding information about overseas investment and income that Chinese resident enterprises must report. When the Notice takes effect on September 1, 2014, the SAT’s oversight of these enterprises’ foreign investment and income will be strengthened. (Guanyu Jumin Qiye […]

French Polynesia: New Law Gives Tax Breaks to Some Large Investors

(June 10, 2014) On May 26, 2014, a law was adopted establishing the tax rules for large-scale investments in hotels and tourist businesses in French Polynesia. (Law No. 2014-12, Loi de pays instituant un dispositif en faveur des grands investissements hôteliers et touristiques [National Law on a Measure for the Benefit of Large Investments in […]

Algeria: New Mining Law Adopted

(May 30, 2014) On February 24, 2014, Algeria adopted a new Mining Law, Law 14-05. It was published in issue 18 of the Official Gazette on March 30. (Imène Boukadoum & Madonna Gerber, Algeria: Entry into Force of the New Mining Law, LEXOLOGY (Apr. 29, 2014); Ridha Hamzaoui, Algeria: New Mining Law Published, TAX NEWS […]