Tax & Accounting Blog

Korea’s Sluggish Trade and the Government’s Efforts to Boost This Slump

Korea’s Sluggish Trade and the Government’s Efforts to Boost This Slump

Current status of international trade in Korea Being the world’s sixth largest exporter, South Korea has a high level of dependence on exports for the economy. Recently though, the fiscal prospect of Korea’s economy for 2016 is dark, as exports are shrinking year-on-year from Jan. 2015 to Mar. 2016. In fact, Korea noted 15 straight … Read More

Italy Issues Guidance on Patent Box Election Requirements

Italy Issues Guidance on Patent Box Election Requirements

On May 6, 2016, the Italian tax authorities (ITA) issued Protocol No. 67014 concerning procedures for obtaining advance tax rulings for qualifying taxpayers electing application of the patent box regime. Starting May 6, 2016, qualifying taxpayers with turnover (or gross revenues) up to €300 million must submit their applications (and related supporting documentation) … Read More