The European Commission launches its proposals for the taxation of the digital economy
On March 21, 2018 the European Commission announced the submission of two legislative proposals to the European Council and the Parliament, with a view to ensuring the fair taxation of digital business activities in the EU.
Deferral of withholding tax on distributed profits re-invested by foreign investors for direct investment in China
China is experiencing a certain decrease in foreign investment resulting, amongst other reasons, from the increasing labor and other costs. The State Administration of Taxation, the Ministry of Finance, the Ministry of Commerce and the National…
Recent development on amendments of the Drug Administration Law (draft for consultation)
To deepen the reform of drug evaluation and approval system, encourage innovations in drugs, and safeguard the rights and interests of the public in regard to drug consumption, China Food and Drug Administration (the “CFDA”) has…
China Supreme Court issues the forth interpretation of the company law to clarify certain applications to the law
On August 25, 2017, China’s Supreme People’s Court (the “SPC”) issued the Provisions on Certain Issues Concerning the Application of the Company Law of the People’s Republic of China (IV) (“Interpretation IV…
Portugal - Tax benefits to forest management entities
Law no. 110/2017, of December 15th, was officially published, which creates tax benefits to forest management entities, amending the Portuguese Tax Incentives Statute and the Registration and Notary Emolument Regulation.
Back to 'REBECA'. Spain has no shipping tradition, but it could have a more adequate shipping policy
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Financial accounts of non-residents: under strict supervision of the SAT
On May 19, 2017, the State Administration of Taxation (“SAT”), the Ministry of Finance, the People’s Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, as well as the China Insurance…
China - New trend on the outbound investments
For the purpose of further guiding, regulating and promoting the development of outbound investments (“ODI”), on August 4, 2017, the General Office of the State Council issued a circular on forwarding the Guiding Circular of the National…
China - Announcement on special tax investigations, adjustments and mutual agreement procedures
On 17 March 2017, the State Administration of Taxation (“SAT”) issued Announcement on Special Tax Investigation, Adjustment and Mutual Agreement Procedures (“Announcement 6”) to step up and enhance administration on transfer…
Back to the past for the private copying levy
On July 3, 2017 the Council of Ministers passed Royal Decree no. 12/2017, amending the limitation on private copying and regulating fair compensation for such limitation – the “private copying levy”. Compensation paid out of the…
68 countries sign the Multilateral Convention
On Wednesday, June 7, as scheduled, Paris saw the signing of the Multilateral Convention through which thousands of bilateral tax treaties will be modified. The Multilateral Convention was signed by 68 countries, and another 8 expressed their…
New regulations on yacht charters in the Balearic Islands
Decree 21/2017, of May 5, 2017, on the activity of chartering recreational craft and vessels in the Balearic Islands has been published.
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