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Indonesia: Central Government Advocates Lower Local Real Estate Taxes

(July 21, 2016) Indonesia’s national government has asked municipal governments to reduce the building and land acquisition taxes they impose and to allow special tax treatment for real estate investment trusts (REITs). The purpose of the reductions would be to increase Indonesia’s competitiveness in attracting investment. (Anton Hermansyah, Govt to Give Local REITS Special Tax […]

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 […]

Indonesia: Tax Amnesty Passed

(July 6, 2016) On June 28, 2016, Indonesia’s House of Representatives adopted a tax amnesty bill. The amnesty was described by Bambang Brodjonegoro, the Minister of Finance, as beneficial to the economy because it would increase asset repatriation, support the currency, help lower interest rates, and increase domestic investment. The government plans to issue three […]

Belarus: Tax Law Changes Due to Redenomination

(June 23, 2016) Belarus adopted amendments to its Tax Code on June 13, 2016; the Law that enacted the changes, Law No. 372-Z, was published in the country’s official gazette, the Vedamasti Natsyianal’naha Skhodu Respublikie Belarus, on June 17. (Viktar Strachuk, Belarus: Amendments to Tax Code Due to Currency Redenomination – Law Gazetted, TAX NEWS […]

Singapore: Participation in G20 Tax Avoidance Prevention Plan

(June 22, 2016) On June 16, 2016, Singapore announced that it will participate in a tax avoidance prevention plan approved by Group of Twenty (G20) nations that was originally developed by the Organisation for Economic Co-operation and Development (OECD). (Marius Zaharia, Singapore to Join G20 Plan Against Tax Avoidance, JAKARTA GLOBE (June 16, 2016).) A […]

Zambia: Parliament Makes Further Cuts to Royalty Rates on Production of Minerals

(May 23, 2016) On May 4, 2016, Zambia’s 158–member unicameral Parliament passed the Mines and Minerals Development (Amendment) Bill, 2016, to amend the Mines and Minerals Development Act 2015.  (Martine Chileshe, Zambia Mines and Mineral Development Act 2015 – Amendment, TAX NEWS SERVICE (June 30, 2015), International Bureau of Fiscal Documentation online subscription database.)  According to […]

Indonesia: Tax Amnesty Proposed

(May 10, 2016) On May 17, 2016, the Indonesian House of Representatives (Dewan Perwakilan Rakyat, or DPR) will begin to discuss the administration’s proposed tax amnesty legislation. The proposal has been advocated by President Joko Widodo for the last six months, but has run into political opposition in the past. It is now listed as […]

Uganda: Legislators Revise Tax Law Proposal on Parliamentary Allowances

(Apr. 25, 2016) On April 14, 2016, Uganda’s legislature voted to amend the country’s proposed law on taxation. The change will revise the Income Tax (Amendments) Bill, 2016, to exempt from taxation some payments made to legislators. (Yasin Mugerwa, Ugandan MPs Amend Income Tax Law to Secure Tax Exemption, KFM (Apr. 15, 2016), Open Source […]

Netherlands: Automatic Exchange of Tax Rulings

(Apr. 12, 2016) The State Secretary for Finance of the Netherlands, Eric Wiebes, issued Letter No. AFP 16/319 M on April 1, 2016, containing answers to questions raised by Members of the Dutch House of Representatives (Tweede Kamer) about the automatic exchange of information on tax rulings with European Union Member States. The matter was […]

Switzerland: Rejection of Abolishment of Marriage Tax Penalty and Constitutional Definition of Marriage

(Mar. 11, 2016) On February 28, 2016, Swiss voters rejected by a narrow vote of 50.8% to 49.2% a referendum to abolish the marriage tax penalty in Swiss law. (Vorlage Nr. 596, Vorläufige amtliche Endergebnisse [Initiative No. 596, Preliminary Official Results], Schweizerische Bundeskanzlei [Swiss Federal Chancellery] website (Feb. 28, 2016).) The “marriage penalty” refers to tax provisions […]