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

Chile – Legislation intended to simplify the corporate tax regime has been published.

Asia Pacific

Australia – KPMG in Australia have prepared a summary of stamp duty changes across the country in recent months.  

Vietnam - The European Commission(EC) have published the text of a free trade agreement between the EU and Vietnam, expected to enter into force by the end of 2017 or in early 2018.

Indonesia – Guidance has been issued on the new ‘fixed asset revaluation’ tax incentive.

Singapore - The tax authorities have issued a public consultation paper on whether or not the tax rules need to be revised to align with the FRS 115 accounting treatment.

Europe

Italy - Tax measures have been enacted as part of the 2016 Budget law, and are generally effective from 1 January 2016. 

France – A recent tax case concerns the VAT implications of holding company ‘recharging’ of acquisition costs.

Transfer pricing

United States – The tax authorities have published three new transfer pricing ‘practice units’ on intercompany interest rates, cost sharing arrangements, and transfers of foreign stock.

South Africa - Mandatory transfer pricing documentation rules have been proposed.

 

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