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PKF Worldwide Tax Update Q1


PKF Worldwide Tax Update Q1 2016

PKF’s Worldwide Tax Update is a quarterly publication that captures notable tax changes and updates from around the world that are contributed by our worldwide family of member firms. Following each article is a PKF Commentary which provides further insight and local contact information should you wish to obtain further advice or information.

In this issue we see changes being brought into the domestic tax legislation of the Russian Federation, Switzerland and the United Kingdom to incorporate elements of the OECD’s Base Erosion and Profit Shifting (BEPS) Action Plan. Other notable articles in this quarter’s issue include:

  • Belgium’s exchange of information (tax ruling decisions) with other tax authorities;

  • The approval of Ecuador’s incentive law with favourable investment incentives;

  • The decision that subsequent Germany federal statutes can override tax treaty articles, notably, with respect to the taxation of employment income earned in another state, with which Germany has concluded a double taxation agreement;

  • The possibility of another tax reform in Greece with respect to personal income tax;

  • Foreign Direct Investment (FDI) changes in India;

  • The increase in Uganda’s Environmental Levy to reduce the number

    of used vehicle imports; and,

  • A look at the new IRS proposed regulations in the United States

    which will treat transfers of foreign goodwill or the going concern value of an active foreign business to a non-U.S. corporation as taxable.

We hope that you will find the March 2016 PKF Worldwide Tax Update both informative and interesting. If you would like further information or advice on any item featured please either refer to the contact information provided in the PKF commentary or find any firm by country at www.pkf.com/pkf-firms

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