(1) Digital Economy Based on the characteristics of business model under digital economy, BEPS re-examines the current tax system, tax treaty, and the existing problems in the transfer pricing rules, and suggests adjustments for domestic legislation and international rules. (2) Hybrid Mismatch Arrangements Based on the model of tax planning comparing two countries or multinational tax system difference, BEPS proposes…

In February 2015, the Australian Government announced that the Australian Taxation Office (“ATO”) will be given the responsibility for both approving foreign investment in residential real estate and a new register of foreign investment in agricultural land. Reasons for giving ATO such power All foreign investment in Australia will be approved by the Australian Treasurer if there is no contrary…

Tax holidays for entrepreneurs Federal law from 29 December 2014 N 477-FZ introduced tax holidays for entrepreneurs. According to article 346.50 the Russian regions can fix the tax rate of 0 per cent for entrepreneurs registered for the first time, and doing business in the field of industrial, social and (or) scientific. Tax report for personal income Companies have to…

Deferment of import VAT payment for export SME Under the current Value Added Tax Law (“VATL”), a taxpayer is required to pay import VAT to the customs office upon declaration for import of goods. Under the proposed revision, export SME satisfying certain conditions (to be regulated in the Presidential Decree of VATL) will be entitled to the deferment of the…

The first policy is a matter of tax relief incentives in the revaluation of company assets, both in the State Owned Enterprises (SOEs or “BUMN”) and private parties. Currently, companies are reluctant to do the revaluation of assets because the tax rate is too high. Revaluation of asset is a readjustment of the value of the company's assets in accordance…

The Cyprus parliament voted a number of additional incentives to entice international businesses moving into the island. These incentives mostly aim to attract physical relocation of business premises and high caliber employees to Cyprus. Doing business in a tax efficient environment - Corporation taxTrading profits of a Cyprus tax resident company are taxed at the rate of twelve and a…