The New Cyprus – Lithuania Double Tax Agreement Takes Effect From 1 January 2015

The double tax agreement between Cyprus and Lithuania, which was signed in June 2013, will take effect from 1 January 2015.

Under the agreement there is no withholding tax on dividends paid by a company resident in Lithuania to a company (but not a partnership) resident in Cyprus provided that the recipient is the beneficial owner of at least 10 per cent of the shares in the company paying the dividend. Otherwise the maximum rate […]

By |January 9th, 2015|

United States: Tennessee Tax Year in Review (12/31/2014)

Bradley Arant Boult Cummings LLP’s State and Local Tax Team would like to share our year-end review—revisiting some interesting Tennessee tax developments for 2014 and announcing our annual “Tennessee Tax Issue of the Year.”

While there were fewer developments than usual that captured the Tennessee state and local tax spotlight, here are our top picks for 2014:

Tennessee Supreme Court Grants Review of the Commissioner of Revenue’s Alternative Apportionment Variance.The Tennessee Supreme Court has granted review […]

By |January 9th, 2015|

Ukraine Is Set To Introduce Additional Import Duties

On 25 December 2014 the Parliament of Ukraine passed in the first reading draft Law “On Stabilization of the Balance of Payments according to Article XII of the GATT 1994”.

The draft introduces a temporary – for 12 months starting 1 January 2015 – additional import duties on a number of imported goods:

10% – for the goods’ of groups 1-14 of the Ukrainian UKTZED nomenclature (which substantively corresponds to the HS Classification);
5% – for UKTZED […]

By |January 8th, 2015|