21/05/2012 European Commission - Increase in VAT rates, slight increase in corporate income tax rates in 2012

The European Commission today provided a report on tax trends in the European Union, revealing that the average standard rate of value added tax VAT...

21/05/2012 Norway - Overview of Norwegian tax system

The KPMG member firm in Norway has prepared an overview of the Norwegian tax system for 2012.

21/05/2012 Norway - Budget includes proposal to amend exit tax rules

The government of Norway on 15 May 2012 presented the revised national budget for 2012, which contains several tax proposalsincluding one that would...

18/05/2012 Estonia - Changes to packaging law; income tax treaty with India

Changes to Estonias laws on waste and packaging effective in April 2012 provide new rules for packaging on which a deposit is required and also new...

18/05/2012 United Kingdom - Tax guidance on beneficial ownership, depository receipts

The HM Revenue & Customs HMRC has issued guidance providing that for tax purposes, HMRC will treat an American depositary receipts ADRs as conferring...

more HR features

• Spain - Tax treatment of write-downs, real estate sales by financial sector:
  Royal Decree-law 18/2012 introduces tax provisions concerning the write-down and sale of real estate assets by the taxpayers in the financial sector.
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• Estonia - Changes to packaging law; income tax treaty with India:
  Changes to Estonias laws on waste and packaging effective in April 2012 provide new rules for packaging on which a deposit is required and also new measures concerning the refund of such deposits.
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• United States: New STEM Immigration Proposal Introduced, Others Expected:
  A bill introduced by Sen. John Cornyn R-TX would streamline the permanent residence process and allocate 55,000 employment-based immigrant visas to STEM advanced-degree graduates. EB-1, EB-2 and EB-3 foreign nationals would be eligible to file an...
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• Pay and flexible work deal saves thousands of jobs at Vauxhall:
  Employees at Vauxhall's Ellesmere Port factory have voted in favour of a deal on pay and flexible working that will boost production and protect nearly 3,000 jobs until 2020.
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• Singapore - Losses from old branch can be set off against profits of new branch:
  A taxpayer-favorable decision issued in a case concerning the unabsorbed tax losses incurred by a previous de-registered branch office of a Japanese parent company.