• Brazil Increases PIS and COFINS Taxable Bases
  Brazil recently introduced significant changes to its tax legislation. As per the new legislation, the definition of corporate revenue has been amended. This may have a severe impact on taxpayers'PIS and COFINS liabilities which are levied on a company's gross revenue, reports Nair & Co. which provides international tax consulting for companies expanding overseas.
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• Canada Introduces Economic Action Plan 2013
  The Canadian Minister of Finance recently introduced the Economic Action Plan 2013 Act in an effort to stimulate the economy and job creation, reports Nair & Co. International Tax Team.
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• Chilean Taxpayers Subject to Transfer Pricing Regulations Must Submit New Affidavit
  Taxpayers carrying out transactions with related entities domiciled abroad must adhere to the new transfer pricing compliance requirements. Taxpayers are required to submit ‘Transfer Pricing Annual Information return form to the Chilean Internal Revenue Service (SII).
  in Public bookmarks with (sii) authorities chile chile: chilean consulting guidelines internal international issues pr press pricing release return revenue service tax transfer
• Hong Kong Allows Deduction on Specified Intellectual Property Rights
  Hong Kong’s Inland Revenue Department (IRD) has clarified that capital expenditure incurred by companies doing business in Hong Kong on the purchase of patents and know-how can also be deemed to include capital expenditure on the purchase of copyrights, registered designs and registered trademarks.
  in Public bookmarks with department hong inland intellectual ipr ird iro kong ordinance property revenue rights
• Income Tax Hike for Dormant Companies in Italy
  Dormant companies in Italy will be paying a higher corporate tax rate in 2012 as per the new Italian tax law. Companies that can be considered ‘dormant’ will have to pay 38% corporate income tax (IRES) tax rate next year compared to the current rate of 27.5%.
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• Indonesia Introduces 1% Tax on Gross Revenue for Small & Medium Enterprises
  Nair & Co. which provides international tax consulting for companies expanding overseas finds out that the Indonesian government regulation No 46 Year 2013, excluding permanent establishments, was issued on June 12, 2013.
  in Public bookmarks with 1% gross in indonesia issues on pr press rate regulation release revenue tax taxation
• IRS Reiterates Warning of Pervasive Telephone Scam
  As the 2014 filing season nears an end, the Internal Revenue Service today issued another strong warning for consumers
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• Reserve Bank of India Reduces Validity Period for Checks
  The Reserve Bank of India has decided to reduce the validity period for checks, drafts, pay orders and banker's checks from six months to three months from April 1, 2012.
  in Public bookmarks with business checks customs declarations doing intrastat orders overseas pay pr press rbi release revenue vat
• South Africa Proposes to Ease Tax Burden and Cross-Border Financial Regulations: Updates from International Tax Consulting Team
  The South African government said it plans to ease cross-border financial rules and taxation requirements for companies in the recently announced national budget for 2013-2014.
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• UK VAT- Intrastat Declarations to Be Submitted Online
  HM Revenue & Customs (HMRC) intend to make electronic submission of Intrastat declarations mandatory. HMRC plans to amend the UK Intrastat legislation to withdraw the option to submit Intrastat declaration by paper. This measure is likely to take effect on April 1, 2012.
  in Public bookmarks with business customs declarations doing intrastat oversears pr press release revenue vat
• United Kingdom Announces New Fuel Rates for Company Cars
  The United Kingdom has recently announced new advisory fuel rates for company car drivers effective from 1 March 2014. These rates are set by HM Revenue & Customs (HMRC).
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• United Kingdom Introduces New Process to collect Outstanding Unpaid Class 2 National Insurance Contributions
  Effective starting April 2014, new rules will be introduced permitting HM Revenue and Customs (HMRC) to collect unpaid Class 2 National Insurance Contributions (NICs) by way of an individual’s Pay As You Earn (PAYE) tax code.
  in Public bookmarks with (hmrc) and class consulting contributions customs hm insurance international national outstanding revenue tax unpaid by 2 users
• United Kingdom Introduces New Process to collect Outstanding Unpaid Class 2 National Insurance Contributions
  Effective starting April 2014, new rules will be introduced permitting HM Revenue and Customs (HMRC) to collect unpaid Class 2 National Insurance Contributions (NICs) by way of an individual’s Pay As You Earn (PAYE) tax code.
  in Public bookmarks with (hmrc) and class consulting contributions customs hm insurance international national outstanding revenue tax unpaid by 2 users

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