Law Library of Congress - Global Legal Monitor: Global Legal Monitor: Taxation http://www.loc.gov/lawweb/servlet/lloc_news?home The Global Legal Monitor is an online publication from the Law Library of Congress covering legal news and developments worldwide. It is updated frequently and draws on information from the Global Legal Information Network, official national legal publications, and reliable press sources. You can search previous news by searching the archive. en-us Global Legal Monitor: Finland: Foreign Pension Tax Rules Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404224_text Taxation; Withholding tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 11 Dec 2014 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404224_text Global Legal Monitor: Ghana: New Tax on Petroleum Products http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404210_text Oil and gas; Taxation; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 02 Dec 2014 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404210_text Global Legal Monitor: Denmark: Package of Measures to Combat Cross-Border Tax Evasion and Use of Tax Havens http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404203_text Money laundering; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 24 Nov 2014 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404203_text Global Legal Monitor: Suriname: VAT Tax to Be Initiated in 2016 http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404196_text International organizations; Taxation; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 14 Nov 2014 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404196_text Global Legal Monitor: China; Netherlands: Renegotiated Double-Tax Treaty in Force http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404156_text Taxation; Treaties and International Agreements/Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 10 Oct 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404156_text Global Legal Monitor: Austria; Council of Europe; Organisation for Economic Cooperation and Development: Ratification of Tax Convention http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404117_text Taxation; Treaties and International Agreements/Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 10 Sep 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404117_text Global Legal Monitor: Australia: Tax Office Releases Guidance Paper and Draft Rulings on Bitcoin http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404109_text Currency; Income tax; Internet; Taxation; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 25 Aug 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404109_text Global Legal Monitor: Bahamas: Parliament to Consider VAT Legislation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404099_text Taxation; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 14 Aug 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404099_text Global Legal Monitor: Finland: Plan to Become a Smoke-Free Country http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404093_text Excise taxes; Marketing and advertising; Taxation; Tobacco and smoking - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 08 Aug 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404093_text Global Legal Monitor: Denmark: Recent Bank and Tax Statements on Bitcoin http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404077_text Banks and financial institutions; Currency; Foreign exchange; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 16 Jul 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404077_text Global Legal Monitor: China: New Tax Reporting Rules for Overseas Investments of Resident Enterprises http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404067_text Corporate income tax; Foreign investments; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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 Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 09 Jul 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404067_text Global Legal Monitor: Kazakhstan: Excise Tax Rates Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404059_text Excise taxes; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 07 Jul 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404059_text Global Legal Monitor: Poland: Delay in Adoption of New Law on Hydrocarbon Tax and Amendment of Law on Mineral Extraction Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404030_text Natural resources; Oil and gas; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 13 Jun 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404030_text Global Legal Monitor: Bosnia-Herzegovina: Increase of Excise Tax on Tobacco http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404031_text Excise taxes; Taxation; Tobacco and smoking - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 13 Jun 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404031_text Global Legal Monitor: French Polynesia: New Law Gives Tax Breaks to Some Large Investors http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404025_text Corporate income tax; Investments; Taxation; Tourism - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 10 Jun 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404025_text Global Legal Monitor: Poland: Bitcoin Transactions Made Subject to VAT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404008_text Currency; Financial services; Internet; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 04 Jun 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404008_text Global Legal Monitor: Algeria: New Mining Law Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404001_text Corporate income tax; Natural resources; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 30 May 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205404001_text Global Legal Monitor: Saudi Arabia: Income Tax Rules Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403954_text Income tax; Tax administration and collection; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 30 Apr 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403954_text Global Legal Monitor: Kenya: Court Rules Tax Refunds Must Be Prompt http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403952_text Administrative law and regulatory procedures; Judiciary; Taxation; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 29 Apr 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403952_text Global Legal Monitor: Ukraine: Verkhovna Rada Acts to Save the Economy http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403942_text Corporate income tax; Income tax rates; State and local finance; Taxation; United Nations Convention Against Transnational Organized Crime (Palermo Convention), 2000; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 25 Apr 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403942_text Global Legal Monitor: Estonia: Rules on Taxation of Bitcoin http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403934_text Currency; Financial services; Internet; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 18 Apr 2014 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403934_text Global Legal Monitor: Finland: Amendment of List of Countries Subject to Controlled Foreign Company Legislation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403850_text Corporate income tax; Corporations; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 04 Feb 2014 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403850_text Global Legal Monitor: Curacao: New Export Regime in Place as Old One Is Being Grandfathered http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403833_text Corporate income tax; Foreign trade and international finance; Import and export; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 22 Jan 2014 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403833_text Global Legal Monitor: Finland: Public Register Proposed for Tax Debts of Enterprises http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403790_text Corporations; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 23 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403790_text Global Legal Monitor: Romania: Government Approves New Taxation Measures http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403791_text Corporate income tax; Income tax; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 18 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403791_text Global Legal Monitor: Gambia: National Assembly Approves Renewable Energy Legislation by Unanimous Vote http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403796_text Energy; Energy efficiency and conservation; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 18 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403796_text Global Legal Monitor: Burundi: New Mining Code Replaces 1976 Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403795_text Mining; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 18 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403795_text Global Legal Monitor: European Union: New Rules Proposed to Fight Tax Evasion http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403789_text Corporate income tax; Tax avoidance; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidance... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 13 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403789_text Global Legal Monitor: Norway: Bitcoins Are Capital Property, Not Currency, Says Norwegian Tax Authority http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403782_text Currency; Financial services; Internet; Taxation; Value-added tax - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).)... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 11 Dec 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403782_text Global Legal Monitor: Belarus: People Will Be Taxed for Not Working http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403770_text Employee hiring; Income tax; Labor; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 26 Nov 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403770_text Global Legal Monitor: Poland: Corporate Taxation Changes http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403768_text Corporations and associations; Partnerships; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 25 Nov 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403768_text Global Legal Monitor: Switzerland; United States: Agreement on Tax Dispute http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403727_text International affairs; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 17 Oct 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403727_text Global Legal Monitor: Burundi: New Procedural Code for Administration of Taxation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403725_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 30 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403725_text Global Legal Monitor: Latvia: New Policy on Prior Notice of Audits http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403697_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 10 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403697_text Global Legal Monitor: Mozambique: Excise, Customs Changes Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403698_text Customs enforcement; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 10 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403698_text Global Legal Monitor: Italy: Tax Incentives and Other Measures to Tackle Youth Unemployment http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403693_text Children; Labor; Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013],... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 09 Sep 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403693_text Global Legal Monitor: Ukraine: New "Pregnancy Tax" Introduced for Women and Their Employers http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403654_text Employee benefits; Taxation; Families - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 02 Aug 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403654_text Global Legal Monitor: Ghana: Tax Measures Introduced http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403645_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 18 Jul 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403645_text Global Legal Monitor: Czech Republic: Tax Revisions Considered http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403601_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 28 May 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403601_text Global Legal Monitor: Finland: Tax Incentives for Investment in Small Companies http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403603_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 28 May 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403603_text Global Legal Monitor: Poland: Proposed Measures to Combat Tax Avoidance http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403526_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 25 Mar 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403526_text Global Legal Monitor: Poland: Income Tax Laws Modified http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403518_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 13 Mar 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403518_text Global Legal Monitor: Singapore: Guidance on Taxation of Property Developers Issued http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403514_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 11 Mar 2013 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403514_text Global Legal Monitor: Finland: Decree on Bank Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403502_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 04 Mar 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403502_text Global Legal Monitor: Denmark: Proposal for Cut in Corporate Tax Rate http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403499_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 28 Feb 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403499_text Global Legal Monitor: Vietnam: Government Offers Tax Relief Measures http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403498_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 27 Feb 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403498_text Global Legal Monitor: Congo, The Democratic Republic of the: New Tax Measures Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403466_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 31 Jan 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403466_text Global Legal Monitor: Algeria: New Finance Law Published http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403464_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 23 Jan 2013 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403464_text Global Legal Monitor: Brazil: New Law Requires Listing of Taxes on Receipts http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403435_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 28 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403435_text Global Legal Monitor: Denmark: Tax Authorities Clarify Moonlighting Rules http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403429_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 11 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403429_text Global Legal Monitor: Dominican Republic: Tax Law Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403430_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 11 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403430_text Global Legal Monitor: Taiwan; Thailand: Avoidance of Double Taxation Agreement Signed http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403423_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 05 Dec 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403423_text Global Legal Monitor: Egypt: Government Decides to Postpone Implementation of Real Property Tax Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403400_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 09 Nov 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403400_text Global Legal Monitor: Court of Justice of the European Union: Decision on Taxation of Non-Resident Companies http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403382_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 07 Nov 2012 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403382_text Global Legal Monitor: Jamaica: Tax Exemption for Officers of Foreign Company Headquarters http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403380_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 25 Oct 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403380_text Global Legal Monitor: Sweden: Proposed Reduction in Corporate Tax Rate http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403335_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 24 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403335_text Global Legal Monitor: Denmark: Tax Amnesty Adopted http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403329_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 14 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403329_text Global Legal Monitor: China: Surcharge on Electronic Waste Takes Retroactive Effect http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403322_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 12 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403322_text Global Legal Monitor: Finland: Tax on Public Broadcasting http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403318_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 07 Sep 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403318_text Global Legal Monitor: Netherlands: Unilateral Decree on Avoidance of Double Taxation Amended Due to Introduction of New Tax on Banks http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403304_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 30 Aug 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403304_text Global Legal Monitor: Luxembourg: VAT Rules Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403288_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 17 Aug 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403288_text Global Legal Monitor: Finland: Proposal to Extend Sugar Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403242_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 16 Jul 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403242_text Global Legal Monitor: European Union: Commission Recommends Measures to Fight Tax Evasion http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403224_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 02 Jul 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403224_text Global Legal Monitor: Netherlands: New Bank Tax Under Consideration by Parliament http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403221_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 28 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403221_text Global Legal Monitor: Denmark: Changes in Corporate Tax and Withholding Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403208_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp;... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 26 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403208_text Global Legal Monitor: Hungary: Telecom Tax Bill http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403184_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.)... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 07 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403184_text Global Legal Monitor: Italy: Boat Tax Clarified http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403182_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 06 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403182_text Global Legal Monitor: Singapore: Tax Rule Clarified http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403179_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 05 Jun 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403179_text Global Legal Monitor: Taiwan: Cabinet Approves Capital Gains Tax Proposal http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403121_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 30 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403121_text Global Legal Monitor: European Union: Benefits of a Proposal for a Financial Transaction Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403079_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 12 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403079_text Global Legal Monitor: Poland: Tax on Metal Exploitation Introduced http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403087_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 12 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403087_text Global Legal Monitor: Gabon: 2012 Tax Incentives http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403072_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana,... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 05 Apr 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403072_text Global Legal Monitor: Denmark: Tax on Sugar Proposed http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403023_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 13 Mar 2012 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403023_text Global Legal Monitor: Netherlands: Belgian Employees May Lose Tax Deferral http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402931_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 30 Dec 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402931_text Global Legal Monitor: Denmark: Higher Pollution Tax to Take Effect http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402926_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 27 Dec 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402926_text Global Legal Monitor: China: Regulations on Resource Tax Revised http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402925_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 22 Dec 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402925_text Global Legal Monitor: Israel: Exemption from Fee for Television Possession http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402894_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 23 Nov 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402894_text Global Legal Monitor: Organisation for Economic Cooperation and Development: Convention on Mutual Administrative Assistance in Tax Matters http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402885_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 16 Nov 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402885_text Global Legal Monitor: Latvia: Law on Taxes and Fees Amended http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402876_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 07 Nov 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402876_text Global Legal Monitor: France: Database EVAFISC Lawful http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402846_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 11 Oct 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402846_text Global Legal Monitor: France: Amended Financial Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402829_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE).... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 03 Oct 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402829_text Global Legal Monitor: Spain: Reinstatement of Wealth Tax http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402825_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 28 Sep 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402825_text Global Legal Monitor: Greece: Government Introduces New Special Tax on Real Estate http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402816_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 22 Sep 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402816_text Global Legal Monitor: Indonesia: Tax Holiday for Innovators http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402779_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 17 Aug 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402779_text Global Legal Monitor: Russia: Foreign Donations to Russian NGOs Are Exempt from Taxation http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402768_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 04 Aug 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402768_text Global Legal Monitor: Italy: Government Approves Austerity Package http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402752_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Wed, 20 Jul 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402752_text Global Legal Monitor: Germany: Tax Credit for Dividends (the Meilicke II Decision) http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402745_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 18 Jul 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402745_text Global Legal Monitor: China: Individual Income Tax Law Revised http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402742_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 11 Jul 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402742_text Global Legal Monitor: China: Collection of Individual Income Tax on High-Income Earners to Be Strengthened http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402713_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 20 Jun 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402713_text Global Legal Monitor: Netherlands: More Legal Protection for Taxpayers Against Audits http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402707_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Tue, 14 Jun 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402707_text Global Legal Monitor: European Union: Draft Directive on a Common Consolidated Corporate Tax Base http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402698_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 03 Jun 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402698_text Global Legal Monitor: Hungary: Hamburger Tax Under Consideration http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402573_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Thu, 17 Mar 2011 12:00:00 EDT http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402573_text Global Legal Monitor: Taiwan: Luxury Tax Proposed by Ministry of Finance http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402554_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Fri, 04 Mar 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402554_text Global Legal Monitor: Sri Lanka: Transfer Tax for Long-Term Land Leases to Foreigners http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402516_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Currency Craze Spawns Bitcoin Wannabes, THE WALL STREET JOURNAL (Nov. 20, 2013).) The Ministry of Finance of Belarus recently proposed legislation that introduces a tax on non-working citizens who do not pay taxes and therefore do not contribute to the budget revenues. If passed, as of January 1, Poland's Parliament (Sejm) voted on November 8, 2013 to approve a proposed law amending the Corporate Income Tax Act. It will become effective 30 days after it is approved by the president and officially published. (Magdalena Switzerland and the United States signed an Executive Agreement on August 29, 2013, that was designed to end a dispute between the two countries on issues relating to the conduct of Swiss banks in allegedly having The Parliament of Burundi adopted a new Tax Procedure Code on September 6, 2013. (Jean Harahagazwe andamp; Anapaula Trindade Marinho, Burundi: Tax Procedure Code enacted by Parliament (Sept. 26, 2013), International Bureau of Latvia's tax authorities announced a new audit policy on September 5, 2013. In the future, taxpayers will be informed by mail of any planned audits before those audits actually begin. At present such notice is only In August 2013, Mozambique announced two changes to its tax regulations. One change, effective August 14, implements Law No. 17/2007 of January 7, 2013, which was published in the country's Official Bulletin on August Italy adopted a Decree-Law in June 2013, which was amended in August 2013, that is designed to promote youth employment in the country. (DECRETO-LEGGE, 28 giugno 2013, n. 76 [Decree-Law No. 76, June 28, 2013], On July 1, 2013, a set of amendments to Ukrainian laws on retirement and other social benefits entered into legal force. (Law of Ukraine on Introduction of Amendments to Some Laws of Ukraine Regarding Awarding Ghana's government is facing a revenue shortfall and has recently introduced a number of tax measures to deal with the situation. Some of the steps being taken are redeployments of measures used previously. (Kennedy Munyandi, The Czech Republic is re-codifying its private law, and in connection with this project, the legislature is considering changes to the tax laws. On May 15, 2013, the lower chamber of the country's Parliament approved a On May 13, 2013, Decree A 341/2013, which puts into force the Law on Investment Relief for Fiscal Years 2013-2015 (hereinafter Law on Investment Relief), was published in Finland's official gazette. The Decree also provides for On March 13, 2013, Poland's Minister of Finance announced a number of proposed changes to the country's Tax Code that would comprehensively modify the Code. (Magdalena van Doorn-Olejnicka, Poland: Introduction Poland's Ministry of Finance took a step on February 12, 2013, toward amending laws on corporate and personal income tax, as well as other legislation. A revised draft of the "Anti-Optimization Act," originally published in August On March 6, 2013, the Inland Revenue Authority of Singapore (IRAS) released information on the taxation of property developers; the information was in the form of an e-Tax Guide. (IRAS E-TAX GUIDE: INCOME TAX: TAXATION According to a decree published on February 28, 2013, in Finland's Official Gazette (Suomen Saadskokoelma), banks will be subject to special taxation (Decree No. 169/2013, effective from Jan. 1, 2013). Banks that qualify for the tax It was reported on February 26, 2013, that the Danish government published a Plan for Growth DK Strong Companies, More Jobs (Vandaelig;kstplan DK - standaelig;rke virksomheder, flere job) in which it proposes to reduce the On January 7, 2013, Vietnam's government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension The Democratic Republic of the Congo (DRC) has adopted an array of changes to its tax regime through ordinances issued by the President. While for the most part the changes became effective on January 1, 2013, On December 30, 2012, Algeria's Finance Law 2013 appeared in the country's official gazette. (Monia Naoum, Algeria: Finance Law 2013 Published, TAX NEWS SERVICE (Jan. 18, 2013), International Bureau of Fiscal Documentation (IBFD) online According to Law No. 12,741, promulgated by Brazilian President Dilma Roussef on December 8, 2012 (Lei No. 12.741, de 8 de Dezembro de 2012, PLANALTO.GOV.BR), in six months all taxes paid in a commercial transaction Denmark's tax authority, Skat, plans to clarify rules covering working "under the table," with cash payments for odd jobs. The changes, effective as of January 2013, will On November 9, 2012, the Dominican Republic adopted a law that provides several amendments to the country's tax regime. The changes will become effective on January 1, Bringing to a close a process that began in 1999, on November 30, 2012, representatives of the Republic of China (on Taiwan) (ROC) and Thailand signed On November 4, 2012, Egypt's Ministry of Finance decided to postpone the implementation of the real property tax law (Law 196-2008 of June 23, 2008) until January The European Court of Justice decided in favor of the European Commission on October 25, 2012, in a case involving a dispute over the way Belgium has On September 26, 2012, Jamaica's Parliament approved the Income Tax (Amendment) Act 2012. The goal of the amended law, once it is formally adopted, is to encourage The Swedish government has put forward a proposal to reduce the corporate tax rate in 2013 from the current level of 26.3% to 22%, an approximately 15% reduction. It is estimated that the measure would cost Denmark's Tax Authority, Skat (Skat website (last visited Sept. 14, 2012)), established a tax amnesty program, under legislation adopted in May 2012, that runs until June 2013, but many Danes are starting to take steps It was reported on September 10, 2012, that China's State Administration of Taxation (SAT) has issued an announcement that introduces the imposition of a surcharge on electronic waste in the country. (Shiqi Ma, The President of Finland approved law proposal HE 28/2012 on August 31, 2012, which introduces a tax to finance the country's national public service broadcasting company, YLE. (Laura Pakarinen, Finland: TV Tax Adopted, A decree amending the 2001 Unilateral Decree on the Avoidance of Taxation (Besluit voorkoming dubbele belasting 2001, Bvdb 2001, hereinafter Unilateral Decree) was published in the Official Gazette of the Kingdom of the Netherlands on August On August 7, 2012, Luxembourg issued a decree amending its VAT rules for independent groups of persons. The amended rule, published in the official gazette (Journal Officiel du Grand-Duch; de Luxembourg) on August 14, was adopted On July 5, 2012, Finland's Sugar Tax Working Group released an interim report, recommending extension of the tax on sugar. (Press Release No. 141/2012, Ministry of Finance, InterimReport of the Sugar Tax Working Group Completed On June 28, 2012, the European Commission published the Communication from the Commission to the European Parliament and the Council on Concrete Ways to Reinforce the Fight Against Tax Fraud and Tax Evasion Including in Relation In December 2011, draft legislation on the introduction of a bank tax in the Netherlands was released by the government. The Lower House (Tweede Kamer) of the Dutch Parliament (Staten-Generaal) adopted the draft on May 22, On June 13, 2012, the Danish Parliament (Folketinget) passed L 173, draft legislation to amend the corporate tax law, withholding tax law, tax control law, tax administration law, and various other laws. (Katja Joo Dyppel andamp; A proposed Telecommunication Tax Bill was published in Hungary's official gazette on May 30, 2012. (Tamas Kulcsar, Hungary: Telecommunication Tax Bill Published, TAX NEWS SERVICE (May 31, 2012), International Bureau of Fiscal Documentation online subscription database.) The Italian tax authorities issued a circular on May 30, 2012, to clarify an additional tax on boats introduced in 2011. (Giulia Gallo, Italy: Boat Tax Clarifications, TAX NEWS SERVICE (May 31, 2012), International Bureau Under Singapore's 2012 budget, company income gained by the sale of some equity investments, as of the beginning of June 2012, will not be subject to taxation. (Daljit Kaur, Singapore: Budget 2012: Non-Taxation of Gains from On April 26, 2012, the Executive Yuan (Cabinet) of the Republic of China on Taiwan approved a previously effective capital gains tax, to be reinstated as of 2013, as part of a set of proposed amendments On March 23, 2012, the European Commission released some data and information related to the Financial Transaction Tax (FTT), which was initially proposed through a directive issued on September 28, 2011. If the FTT is adopted, Poland's new Law on Taxation of Extraction of Certain Metals of March 2, 2012, was published in the country's Official Gazette (DZIENNIK USTAW RZECZYPOSPOLITEJ POLSKIEJ) on April 3, 2012. The Law affects individuals, companies, and entities On January 2, 2012, the President of Gabon promulgated Decree No. 0001 on the Finance Law for 2012. Tax incentives under the new Law apply to cement production and to the wood industry. (Albert Atangana, In order to improve the health of its citizens by reducing their use of sugar, Denmark's government is considering taxing the product. Speaking on March 5, 2012, Pia Olsen Dyhr, the acting Minister of Health, stated The second chamber of the Dutch legislature recently approved changes to the conditions that apply to the "30% rule," whereby employees of foreign companies operating in the Netherlands are allowed to defer 30% of their salary For 2012, Denmark is raising taxes on pollution by district heating facilities to a level five times as high as those previously in force. While at one time it was estimated that the impact on heating Effective on November 1, 2011, China's revised Tentative Regulations on Resource Tax noticeably raised the resource tax levied on the exploitation of crude oil and natural gas in China. The Regulations were revised by State Council On November 14, 2011, the Knesset (Israel's parliament) passed an amendment to the Broadcasting Authority Law, 5725-1965 (as amended). The Law imposes an obligation to pay an annual fee for possession of a television. During the G20 summit that took place in Cannes on November 3 and 4, 2011, 13 of the G20 countries signed the Convention on Mutual Assistance in Tax Matters, as amended by the Protocol of 2010 On October 13, 2011, Latvia amended its Law on Taxes and Fees; most of the new provisions will become effective on November 9. A number of the changes affect penalties. When the new Law comes into On August 24, 2011, the Conseil d'Etat, France's Supreme Court for administrative matters, rejected the request of a Swiss subsidiary of the British bank HSBC to have the database EVAFISC set aside. EVAFISC is designed to Law 2011-1117 of September 19, 2011, on Amending the 2011 Financial Bill, was published in France's official gazette on September 20, 2011 (Loi no. 2011-1117 du 19 septembre 2011 de finances rectificative pour 2011, LEGIFRANCE). As a response to the serious economic crisis in Spain, the government decided to temporarily reinstate the wealth tax for fiscal years 2011 and 2012. (Royal Decree-Law [RDL] 13/2011 of Sept. 16, 2011, 224 BOLETandIacute;N In order to deal with the ongoing financial crisis in Greece, the Greek government has imposed a number of austerity measures in an effort to increase revenues. On September 16, 2011, an amendment was introduced in On August 15, 2011, Indonesia announced a plan to give major investors in some sectors of the economy a tax holiday. Companies considered to be pioneers in their fields and that have invested at least Rp1 On July 28, 2011, the Supreme Court of Arbitration of the Russian Federation (the country's highest judicial authority for commercial disputes) ruled that no difference in legal treatment should be accorded to private donations and research The Italian government approved an austerity package on July 15, 2011, aimed at achieving a balanced budget in 2014. It is reported to include budget cuts of 48 billion (about US$67 billion) over three years. (Emanuela On June 30, 2011, the European Court of Justice (ECJ) issued a second preliminary ruling for the German referring court in the Meilicke case (Case No. C-262/09, ECJ website (June 30, 2011), search by case On June 30, 2011, the Standing Committee of China's National People's Congress (NPC) adopted an amendment to the Individual Income Tax Law that raises the threshold of tax exemption for individual income from monthly wages and China's State Administration of Taxation recently published a circular ordering the tax authorities at all levels in the country to pay closer attention, in collecting individual income tax, to high-income earners. (State Administration of Taxation Amendments to the General Law on Taxation (Algemene wet inzake rijksbelastingen), and to other laws relating to taxpayer legal protection in the Netherlands, were published in the country's OFFICIAL GAZETTE (STAATSBLAD) on June 3, 2011. The The European Union is composed at present of 27 dissimilar tax systems, in which each Member State has its own rules for computing the tax base for associated enterprises. As a result, companies seeking to start Matolcsy added that the specifics of which products would be taxed and how the revenue so raised would be used have not yet been determined. (Id.) It was reported in February, however, that the tax might It was reported on February 25, 2011, that Taiwan's Ministry of Finance (MOF) is drafting a proposed "luxury tax" bill, the draft Statute for Special Commodity and Service Tax (T'e-chung huo-wu chi lao-wu shui t'iao-li), with Sri Lanka's Cabinet recently approved a plan to tax long-term leases of land to foreigners. The proposal came from Mahinda Rajapaksa, the President of the country, who has been acting as the Finance Minister since 2005.... The Global Legal Monitor from the Law Library of Congress covers legal news and developments worldwide. Mon, 14 Feb 2011 12:00:00 EST http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402516_text Global Legal Monitor: France: 2011 Finance Law http://www.loc.gov/lawweb/servlet/lloc_news?disp3_l205402499_text Taxation - On January 1, 2015, Finland's amended Law on Taxation of Non-Residents will become effective. (Law No. 975/2014, FINLEX [scroll down to find the link to the legislation by number and select Finnish or Swedish On November 19, 2014, Ghana's Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include "petrol, diesel, liquefied petroleum gas (LPG), natural gas and On November 6, 2014, the Danish Ministry of Taxation published a package of measures on the prevention of tax evasion and the use of tax havens. (Laura Ambagtsheer-Pakarinen, Denmark: Government Publishes Package on Measures to Prevent On October 31, 2014, the International Monetary Fund commended Surname's recent efforts to address the country's "widening fiscal and external imbalances, and the progress made on financial sector reform," in the wake of its weakened macroeconomic 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 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 On August 20, 2014, the Australian Taxation Office (ATO) issued a guidance paper, a Goods and Services Tax (GST) Draft Ruling, and four draft taxation determinations on the taxation treatment of Bitcoin and other virtual currencies. The Government of the Bahamas proposed new legislation on value-added tax on July 23, 2014; parliament is expected to consider the Value Added Tax Bill 2014 when it reconvenes in late August. (VAT Bill and Finland's government has adopted a Roadmap Towards a Smoke-Free Finland, designed to both help smokers quit and prevent people from starting to smoke in the first place. (Finland Wants to Be Smoke-Free by 2040, ICE On March 18, 2014, the Danish Central Bank issued a statement declaring that Bitcoin is not a currency. The Bank went on to explain, "Bitcoin does not have any real trading value compared to gold and 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, Kazakhstan's president approved amendments to the country's law on excise tax rates on June 18, 2014. The revisions, adopted as Law No. 210-V, will increase the taxes due for alcoholic products and come into force on It was recently reported that in a first reading on May 7, 2014, Poland's Parliament failed to reach consensus on draft legislation proposing a new Law on Hydrocarbon Tax, amendments to the Law on Mineral Extraction It was reported on June 6, 2014, that the Parliament of Bosnia and Herzegovina had passed amendments to the country's Law on Excises. The amendments will take effect on July 1, 2014. (Dinka Antic, Bosnia and 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 As reported by numerous websites publishing Bitcoin-related information, on May 27, 2104, the Lodz provincial office of the Polish Tax Administration issued a statement to the effect that the value-added tax on goods and services will 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. (Imandegrave;ne Boukadoum andamp; Madonna Gerber, Algeria: Entry into On March 19, 2014, Saudi Arabia's Minister of Finance amended several articles of a regulation issued under the country's Income Tax Law, through Ministerial Resolution No. 1776. (Salah Gueydi, Saudi Arabia: Income Tax Executive Regulations Amended, Kenya's High Court determined on April 14, 2014, that taxpayers have a right under the Constitution to fair administrative action related to their tax payments. (Catherine Mutava, Kenya: Constitutional Right to Expeditious Settlement of Refund Claims, On March, 27, 2014, the Verkhovna Rada (Ukraine's legislature) passed an act entitled the Law on Preventing Financial Catastrophe and Creating Pre-Conditions for Economic Growth in Ukraine (Law of Ukraine No. 1166-VII [in Ukranian] (Mar. On March 13, 2014, the Tax and Customs Board of Estonia published on its website a document entitled Taxation of Trade in Bitcoins (Maksustamine Bitcoin'idega Kauplemisel (Mar. 2014)). In this first government statement concerning The Ministry of Finance (Valtiovarainministeri) of Finland issued a decree on December 31, 2013, updating its list of countries that impose a corporate tax burden deemed to be significantly different from (less than three-fifths of) the Curaandccedil;ao instituted a new export regime on January 1, 2014. The country's Parliament approved the regime, which is designed to support companies involved in international trade in goods or services, on December 16, 2013. Applicable to The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Romania's Ministry of Finance has published on its website an Emergency Ordinance on amending the Tax Code and on other tax-related measures. The government approved the ordinance on November 14, 2013; it is scheduled to enter On December 12, 2013, The Gambia's 53-member unicameral National Assembly unanimously adopted the Renewable Energy Bill, 2012, which, among other objectives, is aimed at putting in place a legal and institutional framework to encourage the use On October 15, 2013, President Pierre Nkurunziza of Burundi assented to enactment of the country's new Mining Code, which had been approved by Burundi's Senate on October 10. (Anapaula Trindade Marinho, Burundi: Mining Code Enacted, Tax evasion is a serious issue across the European Union; the European Commission estimates that the EU Member States lose close to one trillion euros in revenues annually due to tax evasion and tax avoidanceBitcoins, the online currency, have received much media attention in a short time and become an up-and-coming international means of payment. (Joe Light, Virtual-Curr