Indonesia Plans to Cut Corporate Income Tax to 20% – BY : DION BISARA & NOVY LUMANAUW JUNE 20, 2019 Jakarta. The government is prioritizing revisions to the corporate income tax law, seeking to cut the tax rate from 25 percent to 20 percent to attract more investment, Finance Minister Sri Mulyani Indrawati said on Wednesday. “We’re working...Read More

India Signs 26 Advance Tax Deals With Multinationals The Indian government signed 26 advance pricing agreements (APAs) in the first quarter of the 2019 financial year, according to a government release. Multinational companies negotiate APAs with the Indian government to lock in their tax rates for moving money out of their Indian operations. An executed...Read More

OECD, 30 August 2019 – The information technology system of the National Revenue Agency (NRA) of Bulgaria was hacked and a significant amount of its data was provided to the media on 15 July 2019. Bulgaria subsequently confirmed that this data was from NRA systems and that it included data automatically exchanged with international treaty...Read More

BRUSSELS  I  AUGUST 2019   1. France & US Reach Compromise on Digital Tax Dispute at G7 Meeting   At the G7 Summit taking place in Biarritz from 24 to 26 August, an agreement has reportedly been reached between the US and France concerning the recently introduced French digital tax. The French bill on digital...Read More

The Swiss Financial Market Supervisory Authority FINMA has published guidance on how it applies Swiss anti-money laundering rules to financial services providers supervised by FINMA in the area of blockchain technology. FINMA has also issued banking licences to two new blockchain service providers. FINMA recognises the innovative potential of new technologies for the financial industry....Read More

The Bahamas’ companies registrar general is striking thousands of companies from the register because they are inactive and have not complied with the rules on fees and filings for many years. The action results from the jurisdiction’s new beneficial ownership reporting regime, as set out last November in the Register of Beneficial Ownership Act, 2018....Read More

Malta has incorporated certain provisions of the EU Fifth Anti-Money Laundering Directive into its beneficial ownership registration regulations. From 1 January 2020, any person can inspect the name, month and year of birth, nationality, country of residence and the extent and nature of the beneficial interest of the beneficial owners of a company, without having...Read More

The number of non-domiciled taxpayers in the UK fell by 13.5 per cent to 78,300 in the 2017-2018 tax year, according to recent figures from HMRC. The dramatic fall in numbers coincided with the introduction of wide-ranging reforms to the taxation of resident non-domiciled individuals, including rules introduced in April 2017, under which long-staying non-doms...Read More

Ireland’s central register of beneficial ownership of companies was officially launched on 29 July, after a postponement allowing certain clarifications to be made regarding beneficial owners’ personal public services (PPS) numbers. Companies that existed before 22 June 2019 must report their beneficial ownership information to the registrar before 22 November 2019, while those formed after...Read More

The Swiss Federal Court has decided that data on around 40,000 clients of Swiss bank UBS should be handed to Paris tax authorities. The decision has been described as key for the country’s banking sector. Judges approved the move by three to two, it was announced on Friday. The court said external link that France’s administrative assistance request was...Read More