Tax planning measures implemented in Brazil

A requirement for taxpayers to submit a declaration form by September 30th each year with details of any transactions that may result in tax savings is stated in a Provisional Measure 685/2015 published in Brazil’s Official Gazette last July.

The Chartered Institute of Taxation and Association of Tax Technicians, conducted a survey, which revealed that members have serious concerns about the HMRC’s tendency to treat taxpayers’ errors as failure to take reasonable care and is inconsistent in its approach.

CDTA between Hong Kong and Italy comes into force

A Comprehensive Double Tax Agreement (CDTA) between Hong Kong and Italy was signed on January 14, 2013. This incorporates tax information exchange provisions based on the Organisation for Economic Cooperation and Development’s latest international standard.

Combatting tax evasion in Italy

The Guardia di Finanza (GdF), Italy’s financial police are checking around 59,000 people who have been transferring around €33bn from Italy to San Marino which is considered to be a tax haven.

The Supreme Court of Canada has dismissed the appeal of a case concerning a taxpayer, ruling that the tax advisor penalty in section 163 of the Income Tax Act is administrative in nature and therefore does not constitute a crime.