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