Tag Archives: Luxembourg

World Tax Advisor 15 March 2019

The World Tax Advisor 15 March includes in particular:

France: Finance law for 2019 implements ATAD 1 measures, changes tax consolidation rules
Bermuda: Legislation on economic substance passed
China: Final IIT regulations revise draft rules
Colombia: Tax reform legislation includes progressive reduction in corporate income tax rate
European Union: Commission concludes state aid investigation of Gibraltar
Japan: Diet approves 2019 tax reform proposals
Luxembourg: Law implementing ATAD 1 published in official gazette
Netherlands: List of low tax jurisdictions published
Romania: Tax on financial assets of banks introduced
Saudi Arabia: Draft zakat regulations released for public comment
Sweden: New penalty introduced for FATCA/CRS reporting violations
Sweden: Server can be considered a permanent establishment
Uruguay: Requirments relating to free zones modified

News Luxembourg government coalition agreement includes CIT rate reduction, other tax measures
Brazil: Access to mutual agreement procedure expanded
Colombia: Guidance issued on procedure for filing CbC report
Costa Rica: New law makes broad changes to corporate tax rules, introduces VAT
Finland: Corporate income tax proposals would affect LLCs, group contribution regime
Malaysia: Social security coverage extended to foreign workers, including expatriates
Malta: Guidelines on tax treatment of distributed ledger technology assets issued

Curaçao’s preferential tax regimes revised to bring them in line with BEPS standards
Bangladesh: Finance Act 2018 contains new definition of PE/”business connection” concept eliminated
Kosovo: Proposed changes to corporate income tax law include new definition of PE
Luxembourg: Tax authorities clarify treatment of virtual currency
Peru: Master file and CbC reporting requirements clarified
Ukraine: Tax on distributed profits proposed to replace corporate income tax
Tax treaty round up
Global tax alerts

Luxembourg parliament considering introduction of VAT group regime
Argentina: Decree clarifies VAT collection on services provided by nonresidents
Austria: Draft bill includes measures to transpose EU ATAD into domestic law
Caribbean and Bermuda countries: First CRS reports due in 2018 for non-early adopter jurisdictions
Costa Rica: Tax reform proposal would replace GST with VAT and tax capital income
Luxembourg: Tax authorities to examine transactions with jurisdictions on EU list of noncooperative countries
Panama: Transfer pricing information reporting form modified
United States: Administration delays tariffs on steel and aluminum
Global tax alerts

New Luxembourg-France tax treaty aligned with 2017 OECD model
China: SAT updates guidance on interpretation of tax treaties
Cyprus: New tax treaty with the UK contains BEPS-related measures
Malaysia: Guidance issued on tax treatment of digital advertising provided by a nonresident
Nigeria: Voluntary disclosure regime extended
Puerto Rico: Draft tax reform bill includes reduction in corporate income tax rate
Sweden: Proposal to restrict deductions of interest expense revised