World Wide Tax News - Issue 45

This newsletter summarises recent tax developments of international interest across the world. In this issue:

• INTERNATIONAL: BEPS Update 
• AUSTRALIA: Transfer pricing intra group financing case win for Tax Office confirmed and Federal Budget targets foreign investors, foreign workers and banks
• INDIA: Formula 1 racing circuit constituted a fixed place permanent establishment for foreign organiser, and other recent developments
• INDONESIA: New certificate of domicile for Indonesian and foreign tax residents
• JAPAN: Increase of penalty tax rates for voluntary disclosures
• SINGAPORE: Ministry of Finance invites comments on draft income tax (amendment) bill 2017
• BELGIUM: Substantial reform of corporate income tax legislation
• HUNGARY: Competitive tax regime in Hungary with a one-digit corporate tax rate
• ISRAEL: New case law regarding foreign tax credits
• ITALY: Dividends - Italian supreme court sheds some light on the “beneficial owner” concept
• LATVIA: Tax reform finally accepted
• UNITED KINGDOM: Finance bills update
• ARGENTINA: Project to provide for updating the value of company assets
• EGYPT: Income tax and stamp tax amendments
• THE UNITED STATES OF AMERICA: Tax Court rules that foreign partner is not liable for tax on certain gain recognised from the disposition of a partnership interest