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Belarus: Tax Code Amended

(Feb. 12, 2016) On December 30, 2015, Belarus adopted a law amending its Tax Code. The new legislation, Law No. 343-Z, came into effect on January 1, 2016, and made changes to provisions for both corporate and individual tax payers. (Belarus Tax Update 2016, SORAINEN (Jan. 2016); Viktar Strachuk, Belarus: Law Introducing Tax Amendments for […]

Thailand: First Inheritance Tax in Decades Comes into Force

(Feb. 5, 2016) On February 1, 2016, an inheritance tax came into effect in Thailand for the first time in 72 years. The purpose of the law is to increase the tax base to generate revenue. The government has announced it expects to reap the equivalent of US$28 to $56 million from the new tax […]

Belgium: Court Rules Tax Haven Requirements Constitutional

(Feb. 4, 2016) Belgium’s Constitutional Court issued a decision on January 21, 2016, on the question of whether tax havens are unconstitutional. The decision, No. 11/2016, was in response to a request for a preliminary ruling sent by a lower court in Antwerp. The request asked whether the rules prohibiting tax deductibility and imposing reporting […]

Sweden: Supreme Administrative Court Rules Trade in Bitcoins Not Subject to VAT

(Feb. 4, 2016) On February 2, 2016, the Swedish Supreme Administrative Court issued a ruling that trade in Bitcoins is not subject to value-added tax (VAT). (Högsta förvaltningsdomstolens dom [Supreme Administrative Court’s Judgment] (SAC Judgment), Nr. 7101-13 (Feb. 2, 2016).) The judgment was based on a case in which the Swedish Tax Authority had appealed […]

Greece: Clarification of VAT as Applied to Crowdfunding Campaigns

(Jan. 29, 2016) The Public Revenue Authority of Greece issued a document on January 14, 2016, addressing the issue of how to apply value-added tax (VAT) to reward-based crowdfunding projects. In such funding campaigns, people contribute to a project before receiving any goods or services in exchange for their contributions. The crowdfunding is considered a […]

Cambodia: Changes in Corporate Taxation Regime

(Jan. 25, 2016) The assignment of a tax regime to each taxpaying business in Cambodia is based on the Law on Taxation, which originally stated that tax on profit will be assessed “according to [either] the real regime, simplified regime, or estimated regime system of taxation” and that “[t]he rules and procedures for the assignment […]

Aruba: New Administrative Penalty Scheme for Late Tax Payment and for Payroll Reporting Failures

(Jan. 11, 2016) It was reported on December 31, 2016, that as of January 1, 2016, the tax administration of Aruba would inaugurate a new policy on administrative penalties for late payment of taxes. (René Offermanns, Aruba: 2016 Policy on Administrative Penalties Published, TAX NEWS SERVICE (Dec. 31, 2015), International Bureau of Fiscal Documentation online […]

South Africa: Carbon-Tax Legislation Proposed

(Nov. 9, 2015) On November 2, 2015, the South African National Treasury published for public comment the Draft Carbon Tax Bill, 2015, which seeks to “price carbon by obliging the polluter to internalize the external costs of emitting carbon, and contribute towards addressing the harm caused by such pollution.”  (Press Release, Republic of South Africa […]

Court of Justice of the European Union/Sweden: Purchase and Sale of Bitcoins Not Subject to VAT

(Nov. 5, 2015) On October 22, 2015, the European Court of Justice (ECJ) issued a preliminary ruling on the taxation of Bitcoins. (Case C-264/14, Skatteverket v. David Hedqvist, 2015, INFOCURIA – CASE-LAW OF THE COURT OF JUSTICE (Oct. 22, 2015) (ECJ Preliminary Ruling).) The ruling was in response to a 2014 request by the Swedish Högsta […]

Finland: Administrative Opinion on Tax Treatment of Uber Drivers

(Oct. 23, 2015) The Finnish Tax Administration (Verohallinto) issued an opinion on October 15, 2015, on the provision by individual drivers of personal transportation services to customers by means of a mobile phone application, such as the services offered by Uber. The Tax Administration stressed that it is not authorized to determine whether such services […]