On November 24, 2015 during a plenary debate the European Parliament discussed TAXE’s report on tax rulings and other measures similar in nature or effect. The discussion lasted about 2 hours. The voting on the report is scheduled for November 25, 2015.

In today’s edition: HMRC – Autumn Statement 2015: tax related documents; OECD – New regional network meeting on BEPS held in Costa Rica; China – Chinese economists urge tax reductions; Singapore – Opening Remark by Ms Sim Ann, Senior Minister of State for Culture, Community and Youth & Finance, at the 45th Meeting of the Study Group on Asian Tax Administration and Research (SGATAR) (a.o. BEPS, updating international tax rules, Country-by-Country Reporting); IMF – What if the answer to climate change is good tax policy?

Did we only yesterday (November 23, 2015) report that the State of Israel increases enforcement ability against tax evaders and that on November 18, 2015 the Israeli Knesset approved a bill to increase the enforcement ability against tax evaders and that the bill promotes the affiliation of Israel to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Today (November 24, 2015) the OECD already published a press release announcing that on November 24, 2015 Israel signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. And that by doing so, Israel became the 91st jurisdiction that has signed the Convention.

The Swiss Federal Department of Finance has issued a press release announcing that on November 23, 2015 Switzerland and Brazil signed a Tax Information Exchange Agreement (TIEA). Although signed, the TIEA has not yet entered into force. For the TIEA to enter into force, the respective ratification procedures have to have been finalized in both countries.

The TIEA arranges for the Exchange Of Information Upon Request.

 

Below we will discuss a selection of regulations included in the TIEA of which we think they might interest our readers.

On November 24, 2015 the Swiss Federal Department of Finance issued a press release announcing that the (new) Double Taxation Agreements (DTAs) with Cyprus and Iceland and the Protocols amending the existing DTAs with Estonia and Uzbekistan have entered into force.

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