It will take effect from January 1, 2013


According to the new research, the UK tax authority has seen a significant increase in information requests about UK-based foreign nationals from overseas tax authorities investigating tax evasion


Recently Estonian Foreign Minister Urmas Paet and his Cyprian colleague Erato Kozakou-Marcoullis have signed an agreement for the avoidance of double taxation and an agreement for the prevention of fiscal evasion between Estonia and Cyprus


On the recommendation of the finance committee, the lower house of German parliament, Bundestag, adopted the government’s bill regarding double taxation agreements concluded with Luxembourg, the Netherlands and Liechtenstein


The Cayman Islands government continues to consider the issue whether the country will negotiate with the United States on signing the intergovernmental agreement on information exchange in accordance with the US's Foreign Account Tax Compliance Act (FATCA) to ease the compliance burden on local financial institutions


The Organization for Economic Cooperation and Development released for discussion two updated drafts clarifying the interpretation of 'beneficial ownership' and 'permanent establishment' used by tax authorities in order to assess where and at what rates corporates should be taxed by withholding taxes on passive income received from cross-border business, covered by an OECD model double tax agreement


The Cayman Islands Companies (Amendment) (No. 2) Bill, 2012, was published recently in the territory's Official Gazette after the legislative assembly had approved it.


Recently the Hungarian Minister of National Economy submitted a bill introducing the 2013 tax package to the Parliament


Last month the German Federal Cabinet adopted a bill on the simplification of company taxation and the tax treatment of travel expenses


The UAE and Panama signed in Tokyo on October 13, 2012 the final agreement on avoidance of double taxation on income to boost the import and export operations and develop the trade between the two countries

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