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On December 20, 2016 the Australian Treasury opened a public consultation on draft amendments to the Australian Taxation Administration Act 1953 in order to increase administrative penalties for significant global entities. The amendments increase administrative penalties imposed on companies with global revenue of $1 billion or more who fail to adhere to tax disclosure obligations.
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On March 21, 2017 the Economic and Financial Affairs Council (ECOFIN) met. 2 of the topics on the agenda where VAT topics. Like several other Ministries of Finance, also the Hungarian Ministry of Finance issued a short press release with respect to the meeting that took place.
Read more: Hungary pleads for a reduced VAT rate for internet access
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On March 22, 2017 the Court of Justice of the European Union (CJEU) judged in the joined cases C-497/15 (Euro-Team Kft. Versus Budapest Rendőrfőkapitánya) and C-498/15 (Spirál-Gép Kft. versus Budapest Rendőrfőkapitánya) (ECLI:EU:C:2017:229).
These requests for a preliminary ruling concern the interpretation of Article 9a of Directive 1999/62/EC of the European Parliament and of the Council of 17 June 1999 on the charging of heavy goods vehicles for the use of certain infrastructures, as amended by Directive 2011/76/EU of the European Parliament and of the Council of 27 September 2011 ('Directive 1999/62').
The requests have been made in two sets of proceedings between Euro-Team Kft. (Case C‑497/15) and Spirál-Gép Kft. (Case C‑498/15) respectively, and the Budapest Rendőrfőkapitánya (Commander in chief of police, Budapest, Hungary) concerning the imposition of a fine for having used a section of motorway without having paid the required toll.
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On March 21, 2017 the Swiss Confederation and the Islamic Republic of Pakistan signed a Convention for the Avoidance of Double Taxation with respect to Taxes on Income (Hereafter: the new DTA).
Although the new DTA has been signed, it has not entered into force yet. For the new DTA to enter into force, the respective ratification procedures have to have been finalized in both countries. When entering into force the new DTA will replace the Convention between the Islamic Republic of Pakistan and the Swiss Confederation for the avoidance of double taxation with respect to taxes on income which was signed on July 19, 2005.
Below we will discuss a selection of provisions included in the new DTA of which we think they might interest our readers.
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The next OECD Tax Talks webcast is scheduled for March 28, 2017 from 15.00 to 16.00 CET.
Read more: The next OECD Tax Talks webcast is scheduled for March 28, 2017
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