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Tax news

Newsletters from the RSM Tax Centre of Excellence, covering recent developments in taxation around the world.

Warning shot fired at multinationals

11 December 2014
The UK Government has announced details of their crowd pleasing measure dubbed “the Google tax”. But not everyone is smiling. Baker Tilly, RSM International member firm in the UK, reviews the impact this will have on multi-nationals.

Minimal change to corporate tax rates expected in spite of global tax infrastructure reform

8 December 2014
The majority of tax advisers expect corporate tax rates to remain relatively unchanged over the next three years, according to research by RSM, the seventh largest global network of independent audit, tax and advisory firms. This is in spite of global tax reform led by the OECD aimed at targeting tax avoidance by multinational corporations. 

Chile: Chilean Tax Reform

10 November 2014
This change in taxation for companies has generated a significant slowdown in economic growth (current 5% down to 2% in the future). The gradual change in company income tax (20% in 2013) will be as follows:

Venezuela: Exchange Trilogy in force in Venezuela

10 November 2014
The exchange rate established by 'CENCOEX' is fixed and is set at 6,30 bolívares (Bs.) per U.S. dollar. It is applicable to items such as medicines, food, housing, education and any other item designated by the institution. So far, several items directly associated to the needs of the government sector have been added.  

Honduras: Double Taxation on dividend income

10 November 2014
On 28 March 2010, the National Congress of Honduras passed a law called “Strengthening of Income, Social Equity and Rationalization of Public Spending Law” contained in decree No. 17-2010.

Nicaragua: Self-transfer of Value Added Tax (VAT)

10 November 2014
The figure of the self-transfer of the Value Added Tax (VAT) applies when general services are provided or when the enjoyment or benefit is obtained from the use of goods by natural resident persons, or natural or legal non-resident, not responsible tax collectors of VAT or not registered before the tax authority.

Uruguay: Financial Inclusion Law

26 October 2014
On 29 April 2014, Law No. 19,210 (or Financial Inclusion Law) was approved. The Law aims to promote access to banking services and the use of electronic means of payment, such as debit card, credit card and electronic transfers, by all the population.

Transfer Pricing News: Dutch State secretary of Finance on the arm's length principle

16 September 2014
Recently the Dutch State secretary of Finance reacted through a public letter on the statement ‘The OECD’s Arms Length Principle, which is based on comparable market prices that do not really correspond to reality, provides several loopholes through which MNCs avoid tax’. This statement was included in a report of Oxfam titled ‘Business among Friends – Why corporat

Transfer Pricing News: China investigating service and royalty charges of past 10 years

16 September 2014
On 29 July 2014, the Chinese State Administration of Taxation issued an announcement ('ShuiZongBanFa 2014 No. 146') to strengthen its investigation on service and royalty charges from overseas related parties during the past ten years from 2004 to 2013.

Transfer Pricing News: Ireland OECD BEPS

16 September 2014
Since the start of the OECD’s BEPS project, Ireland has been very supportive of all initiatives. Already in October 2013, the Irish government broadcasted a so-called international tax strategy statement. This document contained Ireland’s objectives and commitments concerning the countering of international corporate tax policy issues.

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