Russian Finance Minister Anton Siluanov announced proposals to align the taxation of bank deposits with securities and bonds, and to widen taxation of wealthy individuals receiving significant interest income from these assets


This Monday Switzerland and the US initialed an agreement for the implementation of the Foreign Account Tax Compliance Act (FATCA)


Ireland's Revenue Commission has published the details from its Revenue Operational Manual of how the body should monitor compliance with transfer pricing rules


The Organization for Economic Cooperation and Development (OECD) recently held a meeting with transfer pricing experts from governments and private sector representatives for discussing transfer pricing issues indicated in the report “Intangibles, Safe Harbors and Timing Issues” published in June


The Liechtenstein tax administration has recently negotiated and initialed a double taxation agreement in the area of taxes on income and on wealth with the Kingdom of Bahrain


The Bundesrat, Germany’s upper house of parliament has recently adopted the German-Liechtenstein bilateral double taxation agreement


As expected, the upper house of German parliament, Bundesrat, has rejected the tax deal between Germany and Switzerland during the recent plenary sitting


The President of Latvia Andris Berzins supports introduction of a progressive personal income tax, however, noting that an excessive tax rate may discourage people from working and earning more. At the same time Latvian President is against introduction of the progressive rate of the estate tax


Hungary’s Economy Minister announced that consumption taxes will rise and income tax will decrease. These measures are the part of a strategy to keep the state budget deficit below 3% of GDP


The UK tax authority, Her Majesty Revenue & Customs, issued a factsheet on the new Swiss/UK tax cooperation agreement, prepared to inform UK taxpayers and their advisers of what to expect when the agreement comes into effect (January 01, 2013)

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