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.

Also on

From next week, we’ll be changing the way we report international developments. International round up is being replaced with Week In Tax, which covers tax developments or tax-related items reported each week. As usual, you’ll be able to find the complete collection of TaxNewsFlash here.


Canada – KPMG in Canada have prepared a list of predictions for the federal Budget on 22 March 2016.

Columbia - New rules issued by the central bank concern the registration, modification, and cancellation of foreign debt.

Asia Pacific

Australia – Proposed legislation would amend the application of GST to supplies made by and to non-residents.

China - The scope of application of VAT is being expanded to apply to several sectors that were previously subject to business tax.

China – KPMG in China have issued reports looking at the impact of the digital economy on the VAT regime, as well as the foreign direct investment outlook in 2015.

Thailand - Foreign companies conducting certain banking and insurance services are no longer required to obtain a ‘foreign business license’ from the Government.

India – The tax authorities have clarified the tax treatment of partnerships under the UK-India tax treaty.

India - New tax guidance on withholding tax and the taxation of surplus on the sale of shares has been issued.

Myanmar – The 2016 Union Tax Law has been passed.


Netherlands - The Supreme Court has ruled that withholding tax should not be imposed on dividends paid to foreign individuals, but that withholding tax on dividends distributed to a foreign company did not breach EU law.

Netherlands - The Supreme Court has issued a decision, concluding that the 150-kilometer criterion in the ‘30 percent ruling’ is not contrary to EU law.

Netherlands - A case concerning VAT deductions currently pending before the Court of Justice of the European Union (CJEU) could have implications for Dutch holding companies.

Transfer pricing

United States – The US Treasury have responded to Congress on the recent EU state-aid ‘tax ruling’ investigations.

United States – The tax authorities have issued a new practice unit on the residual profit split method.

Australia – A recent report from KPMG in Australia looks at the costs of non-compliance with country-by-country reporting requirements.

Poland – The tax authorities have announced an increased focus on transfer pricing during tax audits.

India – A recent case held that brand-promotion expenses were not an ‘international transaction’ for the arm’s length standard.

FATCA update

Competent authority arrangements have beeen signed between the US and Switzerland, Brazil and Barbados. The South African Minister of Finance has also reiterated their commitment to automatic exchange of information in the 2016 Budget speech.

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