World Wide Tax News - Issue 47

This newsletter summarises recent tax developments of international interest across the world. In this issue:

• INDIA: Budget 2018
• AUSTRALIA: International tax developments in Australia signal focus on cross border activity
• HONG KONG: 2018/19 Budget highlights
• SINGAPORE: Innovation tax incentives enhanced
• SRI LANKA: Changes to withholding tax on cross border payments / Changes to outward remittances made by commercial banks and authorised dealers
• THE EUROPEAN UNION: Agreement on mandatory disclosure of tax information about potentially aggressive tax planning arrangements with cross-border implications / European Commission publishes the non-confidential decision in the Amazon state aid case
• HUNGARY: Hungary’s reactions to the BEPS provision
• ISRAEL: Taxation of cryptocurrencies
• ITALY: Restyling of the Italian permanent establishment concept / Cooperative compliance programme
• MOLDOVA: New single tax for residents of Moldovan IT parks
• THE NETHERLANDS: CJEU decides that the Netherlands should allow the ‘per element approach’ in relation to the Dutch fiscal unity regime / Further Dutch government explanation on future Dutch withholding tax on dividends, royalties and interest
• POLAND: The most important corporate income tax and VAT changes in Poland in 2018
• SERBIA: Newly published rulebooks on arm’s length interest rates and services subject to Serbian withholding tax
• SPAIN: Recent developments
• UNITED KINGDOM: New withholding tax for certain intangibles related payments / Corporate criminal offence: New UK anti-evasion legislation that affects companies and partnerships worldwide
• ARGENTINA: Tax reform regarding direct taxes and tax procedural law
• PANAMA: Court ruling on application of double tax treaty provisions on dividend distributions and the concept of beneficial owners
• CANADA: Voluntary Disclosures Program conditions tightened
• UNITED STATES: US TAX REFORM – Implications for foreign entities with a US footprint
• SOUTH AFRICA: Budget 2018 – Tax proposals