RSM Global

Tax news

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

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.

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.

Transfer Pricing News: UK legislation on countering avoidance schemes involving the transfer of corporate profits

16 September 2014
The legislation seeks to prevent profits being transferred to another group company by way of a payment of all, or a significant part, of the profits of a company.

Transfer Pricing News: Secondary adjustments again deemed to be treated as dividend or capital contributions in South Africa

16 September 2014
Since April 2012 secondary adjustments were treated as deemed loans, but this caused a lot of uncertainty and practical problems. This may be the reason that the Taxation Laws Amendment Bill, 2014 (Draft), includes that secondary adjustments shall now be treated as deemed dividends or capital contributions, depending on the facts and circumstances of the case.

USA: New global tax and information reporting regimes create risks and burdens for businesses

1 September 2014
Emboldened by the plethora of new legislation and guidance passed by the United States, many countries are considering implementing a standardised global information reporting (GIR) system.

Europe: The Mini One Stop Shop for e-services, broadcasting and telecom services

1 September 2014
In January 2015 the VAT legislation providing for the place of taxation for e-services, broadcasting and telecom services will change. Although the actual change in legislation will be minimal, it will have a substantial impact on the providers of these services from a VAT compliance perspective.

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