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The tax reform proposals for fiscal year 2024, presented by Korea’s Ministry of Economy and Finance (MOFE) on 27 July 2023, include measures to supplement the global minimum tax rules under Pillar Two, defer the implementation of the under-taxed profits rule (UTPR) and shorten the deadline for...
On 11 July 2023, Uganda’s parliament approved the draft Finance Act 2023 that introduces a 5% digital services tax (DST) on the revenue derived by nonresidents from the provision of digital services to persons in Uganda and that caps loss carryforwards.
Brazil’s Chamber of Deputies approved an historic tax reform on 6/7 July 2023 that would introduce significant and welcome changes to the constellation of indirect tax rules in the country. The measures would restructure and simplify the indirect tax system, which currently is highly complex due...
On 10 July 2023, the German Federal Ministry of Finance released a draft law that would transpose the EU minimum taxation directive into domestic law.
Germany’s Ministry of Finance published a draft law on 14 July that is designed to enhance growth opportunities, investment and innovation, and simplify the tax rules.
New rules apply in the EU as from 12 July 2023 to tackle the distortive effects of financial subsidies granted by non-EU member states to companies engaging in economic activities in the EU. The EU Foreign Subsidies Regulation (FSR) entered into force on 12 January 2023, followed by publication...
On 8 June 2023, the Spanish Supreme Court issued its highly anticipated decision in a case involving the application of the dividend withholding tax exemption under the EU parent-subsidiaries directive (PSD) and the anti-abuse rule in domestic law (article 14.1 of the Non-Resident Income Tax Act ...