20 December 2013
Americas Tax Center Weekly Roundup
Latest news — Americas
Argentina approves tax treaty with Spain
On 18 December 2013, Argentine Law 26,918 was published in the Official Gazette, approving the Argentina-Spain Tax Treaty signed on 11 March 2013. The new treaty includes elimination of the exemption for Spanish shareholders from the Argentine tax on personal assets, modifications to the exchange of information clause, and elimination of the most-favored nation clause, which established the automatic application of lower withholding rates if Argentina agreed to lower withholding rates in other treaties with OECD countries. A Tax Alert provides details.
Canada–Barbados tax protocol enters into force
On 17 December 2013, the protocol amending the Canada-Barbados income tax treaty entered into force. The protocol was signed on 8 November 2011. Although the protocol focuses on the replacement of the provisions in Article XXVIII dealing with the exchange of tax information, it also introduces a number of other important changes to the convention. A Tax Alert highlights the main revisions in the protocol.
Curacao and the Netherlands agree on new tax arrangement
The Dutch State Secretary of Finance and the Curaçao Minister of Finance reached agreement on a new tax arrangement (TAK) between Curaçao and the Netherlands, according to an announcement issued by the Dutch Ministry of Finance on 12 December 2013. It is the intention that the TAK will enter into force as of 1 January 2015, under the condition that parliamentary approval will be obtained in both jurisdictions. A Tax Alert has details.
Latest issue of EY’s Trade Watch now available
The December 2013 issue of TradeWatch, a quarterly communication prepared by EY’s Global Trade practice, is now available. Articles in the current issue covering the Americas include: (1) Brazilian tax incentives for capital goods and automotive parts/components, (2) Brazilian reduction of the PIS/COFINS import tax basis, (3) Canada's foreign trade zone advantage, and (4) Mexican tax reform’s impact on foreign trade operations.
EY private equity report focuses on Mexico
With growth rates declining across most of the developed world, private equity (PE) firms have turned to emerging markets as an engine of growth. Our latest PE roundup report focuses on Mexico. With its low PE penetration, accelerating growth and lighter competition for deals, Mexico reflects a distinctive and compelling opportunity for a wide range of PE and growth capital investors. Share the quarterly report with your clients, portfolio companies and PE contacts. For additional information about PE investment in Mexico and other emerging economies, visit ey.com/peem.
This week's tax treaty news in the Americas
- Argentina and Spain: Argentina approves tax treaty
- Canada and Guinea: negotiations concluded on foreign investment protection agreement
- Canada and Moldova: negotiations concluded on foreign investment protection agreement
- Canada and Tanzania: foreign investment protection agreement enters into force
- Mexico and Estonia: tax treaty enters into force
- Mexico and Turkey: investment protection agreement signed
- Mexico and Turkey: tax treaty signed
- Panama and UK: tax treaty enters into force
This week’s EY Global Tax Alerts
- Swedish SAC denies leave to appeal two shareholder loan cases(18 December 2013)
- Indonesian Tax Authority releases additional transfer pricing audit guidelines (18 December 2013)
- New protocol under Canada-Barbados Tax Convention enters into force (18 December 2013)
- UK Finance Bill 2014 includes clauses relevant to oil and gas industry (17 December 2013)
- Dutch Minister of Economic Affairs increases research and development allowance (17 December 2013)
- Japan releases 2014 Tax Reform Outline (16 December 2013)
- The Netherlands and Curacao agree on new tax arrangement (16 December 2013)
- Mexico's tax reform is signed by president and published (13 December 2013)
- US IRS issues guidance on treatment under Sections 482 and 901 of transactions with foreign branches or disregarded entities (12 December 2013)
Recently archived webcasts now available on-demand
Business tax services: global tax update
Looking to gain insight on recent global tax trends and developments impacting your organization? A recent webcast discussed key issues such as: (1) tax policy and controversy trends and developments, (2) research and development credits and incentives, and (3) fixed and capital asset matters, including the recently issued Tangible Property Regulations in the US. This webcast will be of interest to tax professionals, tax directors and chief financial officers. Watch it on-demand here.
Your talent in motion: Global mobility effectiveness survey 2013
Global organizations now deploy their talent around the world, around the clock – in structured assignments, in flexible work patterns, in ad hoc business travel and in short-term crisis management roles. A recent webcast examined how the individuals in the global talent pool, and the organizations they work for, can benefit from effective practices in the management of global mobility. Watch it on-demand here.
EY industry, service and issue publications
- Asset management and social media
- EY Specialty-Issue-2-December-2013
Government and Public Sector
- Time to get to work
- Collaboration nation
- Building bridges
- An engineer in the house
- Dynamics: collaborating for growth
Media and Entertainment
Oil and Gas