19 May 2019 U.S. International Tax This Week for May 17 Ernst & Young's U.S. International Tax This Week newsletter for the week ending May 17 is now available. Prepared by Ernst & Young's International Tax Services group, this weekly update summarizes important news, cases, and other developments in international taxation.
Global trade disruption escalates to new heights (May 23) Domestic tax quarterly webcast series: A focus on state tax matters (May 29) Global payroll challenges for US employers - Hosted by Ernst & Young LLP and Bloomberg Tax (June 25) — May 13: US tariffs on Chinese imports will have little effect on commodity prices overall but larger effect based on industry (Tax Alert 2019-0913) — May 13: USTR publishes fourth round of exclusions for Chinese-origin products; issues initial denials for next set of product requests (Tax Alert 2019-0916) — May 15: USTR initiates actions to implement up to 25% tariffs on remaining products from China under Section 301; China retaliates with its own tariffs against most recent actions (Tax Alert 2019-0931) — May 15: Rwanda amends Income Tax law : Defines permanent residence and effective place of management, provides guidelines on carryforward of tax losses past five years (Tax Alert 2019-0930) — May 15: Indonesia issues regulations for determination of permanent establishments (Tax Alert 2019-0929) — May 15: Colombian tax authority clarifies scope of new thin cap rule (Tax Alert 2019-0926) — May 10: Spanish Supreme Court issues favorable decision on UCITS reclaims (Tax Alert 2019-0909) — May 10: Italy issues instructions for disclosure of hidden PE (Tax Alert 2019-0905) — May 10: Spain proposes measures to facilitate proof of residence for certain EU funds for interest and capital gains exemption (Tax Alert 2019-0910) — May 10: UK First-tier tribunal rules financing structure's main purpose was a tax advantage; interest expense deduction disallowed (Tax Alert 2019-0911) — May 16: IMF paper on fiscal policies for Paris climate strategies part of larger US and global focus on reducing carbon emissions (Tax Alert 2019-0937) — May 16: Turkey increases Banking and Insurance Transaction Tax for foreign exchange transactions to 1%, certain exceptions provided (Tax Alert 2019-0941) Ernst & Young Client Portal, the leading source for news, analysis, and reference materials for corporate tax professionals, has a variety of content of interest to international tax practitioners, including: — International Tax Online Reference Service. Key information about, and important tax developments from, 56 foreign jurisdictions, including information on tax rates, interest rates and penalties, withholding, and filing dates. — EY/Passport. EY/Passport is your guide to planning ventures in the global economy, offering a wealth of tax and business knowledge on more than 150 countries. Because the matters covered herein are complicated, U.S. International Tax This Week should not be regarded as offering a complete explanation and should not be used for making decisions. Any decision concerning matters covered herein should be reviewed with a qualified tax advisor. Document ID: 2019-0949 | |