Stories that are tagged 'penalties'


Italian Government Approves Draft Budget
Ulrika Lomas, Tax-News.com, Brussels__18 October, 2019
On October 16, 2019, the Italian Council of Ministers approved the draft Budget law for 2020, which will prevent an automatic rise in the rate of value-added tax, and includes further measures designed to combat tax avoidance and evasion. Read Full Story

Irish Tax Investigations Typically Last Almost A Year
Jason Gorringe, Tax-News.com, London __18 October, 2019
Ireland's Comptroller and Auditor General has released a new report on the Irish Revenue's compliance activities during 2018, and its efforts to improve how it interacts with taxpayers since a review in 2012. Read Full Story

Chile To Ease Penalties, Interest For Paid Tax Debts
Mike Godfrey, Tax-News.com, Washington__20 September, 2019
Chile's Minister of Finance on September 17, 2019, announced the launch of a tax amnesty for businesses and individuals with outstanding tax debts, which will offer reduced penalties and interest. Read Full Story

Saudi Arabia Begins Requesting Local, Master File
Lorys Charalambous, Tax-News.com, Cyprus__20 September, 2019
The General Authority of Zakat and Tax (GAZT) in Saudi Arabia published final transfer pricing by-laws, including transfer pricing documentation requirements proposed under the OECD's 2013 Base Erosion and Profit Shifting (BEPS) Action 13 Plan, on February 15, 2019. GAZT has now begun formally requesting the submission of specific transfer pricing documentation, in relation to the fiscal year ending December 31, 2018. Read Full Story

IRS Offers Settlement Scheme To Micro-Captives
Mike Godfrey, Tax-News.com Washington__20 September, 2019
On September 16, 2019, the United States Internal Revenue Service announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Read Full Story

Panama Strengthens New Law Criminalizing Tax Evasion
Mike Godfrey, Tax-News.com, Washington__13 September, 2019
Panama's Cabinet Council has approved a proposed legislative amendment to enable the country to more effectively penalize repeat tax evaders. Read Full Story

IRS To Waive Small Tax Debts For Former Citizens
Hans Esser, for Expatbriefing.com__09 September, 2019
On September 6, 2019, the United States Internal Revenue Service announced new procedures that will enable certain individuals who relinquished their US citizenship to come into compliance with their US tax and filing obligations and receive relief for back taxes. Read Full Story

Indonesia To Ease Tax Penalties
Mary Swire, Tax-News.com, Hong Kong__13 September, 2019
The Indonesian Government has announced that it will relax the penalties it applies to underpaid tax, in a bid to boost compliance. Read Full Story

Deadlines For Colombian Tax Amnesties This Month
Mike Godfrey, Tax-News.com, Washington__05 September, 2019
Two deadlines are approaching in Colombia for taxpayers wishing to take part in ongoing tax amnesties. Read Full Story

Czech Republic Sets Out Electronic Tax Administration Plans
Ulrika Lomas, Tax-News.con, Brussels__30 August, 2019
The Czech Ministry of Finance on August 26 announced that it intends to digitalize many tax procedures. Read Full Story



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