Canada: B.C. Budget Support For Mining Industry

British Columbia’s latest budget, introduced on Feb. 17, 2015, confirmed two measures intended to support B.C.’s mining industry, including an extension of the B.C. mining flow-through share tax credit.

Flow-through shares are designed to help corporations in the mining, oil and gas, and renewable energy sectors finance their exploration and development activities. Junior resource corporations generally benefit the most from the use of flow-through shares since those corporations typically have the most difficulty financing their […]

By |February 24th, 2015|

Turkey Intends To Tax Non-Resident Internet Companies

Recent developments
On February 12, 2015, the Turkish Minister of Finance Mehmet Şimşek announced the government’s intention to impose corporate income tax and VAT on non-resident Internet companies by introducing the concept of “electronic taxpayer” to the Tax Procedure Law. The stated objective is to collect tax from social network platforms and other non-Turkish companies generating income selling online advertisements directed to Turkish consumers.

While acknowledging that Turkey’s network of tax treaties could limit the country’s […]

By |February 23rd, 2015|

European Union: Germany, Italy & France Demand Stronger Stance On Tax Evasion

The finance ministers of Germany, France, and Italy have requested in a joint letter to the EU, greater harmonization and a better strategy for the fight against tax evasion. Their statement issued last December in the wake of the Luxembourg leaks (reportedly, multinational corporations achieved favourable tax treatment on their profit following deals with the Luxembourg tax authorities), made it clear that tax avoidance and aggressive tax planning will no longer be tolerated by […]

By |February 23rd, 2015|