The Liechtenstein Government approves the DTAs that were concluded with Iceland, the UAE and Andorra
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On August 24, 2016 the Liechtenstein Government issued a press release by which it announced that it has approved the Double Taxation Agreements (DTAs) that were concluded with Iceland, the United Arab Emirates (UAE) and Andorra. The DTAs are now forwarded to the Liechtenstein Landtag (Parliament) for approval.
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On August 24, 2016 the Singaporean Ministry of Finance issued a press release announcing that on that same date the Republic of Singapore and the Federal Democratic Republic of Ethiopia signed an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (Hereafter: the DTA).
Although the DTA has been signed, it has not entered into force yet. For the DTA to enter into force, the respective ratification procedures have to have been finalized in both countries.
Below we will discuss a selection of provisions included in the DTA of which we think they might interest our readers.
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On July 4, 2016 the OECD issued a document for public review which is titled: Conforming amendments to Chapter IX of the Transfer Pricing Guidelines. Interested parties had until August 16, 2016 to submit their comments. The OECD has now published the comments it received on the document.
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On August 23, 2016 the UK HM Revenue & Customs (HMRC) issued VAT Notice 708: buildings and construction. This notice cancels and replaces Notice 708 (August 2014) and a number of amendments.
Read more: UK – HM Revenue & Customs issues VAT Notice 708: buildings and construction
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On August 22, 2016 the South African Revenue Service (SARS) released a Draft Frequently Asked Questions (FAQ) Guide on the Common Reporting Standard (CRS) for comments. Comments on the draft guide have to be submitted by e-mail. Comments have to be submitted before or on September 2, 2016.
Read more: South African Revenue Service releases a Draft CRS FAQ Guide for comments
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