International round up

International round up

Every week, KPMG member firms around the world publish updates on developments in their country. In Weekly Tax Matters we’ll highlight a selection that may be of interest to our readers.

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Every week, KPMG member firms around the world publish updates on developments in their country. In Weekly Tax Matters we’ll highlight a selection that may be of interest to our readers. The complete collection of TaxNewsFlash can be found here.

Americas

Canada – Proposed legislation would revise the trust loss restriction event rules.

Canada – KPMG in Canada have prepared a tax guide for the mining sector.

Asia Pacific

Australia - Pending legislation would, if enacted, affect managed investment trusts (MITs).

India – A recent tax case held that fees for supply management services were not taxable as fees for technical services or as royalties under the India-UK tax treaty.

Vietnam – The social insurance rates and minimum wage have been increased.

Europe

Netherlands – The Dutch Supreme Court has upheld the validity of the ‘crisis levy’ retroactively imposed on employers.

Netherlands - Proposed legislation would, under certain circumstances, waive the rules with respect to withholding of payroll tax and social security contributions by principals on remuneration paid to ‘contracted parties’.

Germany – The latest edition of German Tax Monthly, published by KPMG in Germany, covers proposed investment tax reform among other topics. 

Serbia – Individual income tax changes have been made for 2016. 

Transfer pricing

India - The first two bilateral advance pricing agreements (APAs) between India and the UK have been signed, relating to transactions concerning management charges and brand royalty.

Singapore – KPMG in Singapore have produced a report on the GST implications of transfer pricing adjustments.

FATCA update

The US tax authorities have posted updates to the list of ‘frequently asked questions’ (FAQs) on the FATCA webpage.

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