Tax & Accounting Blog

European Union Singapore Free Trade Agreement  –  The Tale of an Island City-State and the World’s Largest Trade Bloc

European Union Singapore Free Trade Agreement – The Tale of an Island City-State and the World’s Largest Trade Bloc

Negotiations for the EUSFTA were launched between Singapore and the EU in 2009. The Goods and Services Agreement was concluded in 2012 and the Investment Protection Chapter in 2014, paving the way for the conclusion of the EUSFTA. The agreement will come into force after it is signed and ratified by both parties. The ratification … Read More

Natural Disasters: A Trigger for Tax Changes

Natural Disasters: A Trigger for Tax Changes

Natural disasters will unleash a chain reaction of challenges causing economic disruption and difficulties.  Governments typically react by increasing certain taxes on a temporary basis in order to create extra funding for medical supplies, food, shelter and other basic services in the affected areas and eventually, to address the reconstruction process of damaged public and … Read More

Canada Publishes Information Circular 70-6R7 on Exchange of Information

Canada Publishes Information Circular 70-6R7 on Exchange of Information

Canada supports the OECD BEPS Action 5 recommendations  and has committed to the spontaneous exchange of information on tax rulings with other countries. In Information Circular (IC) 70-6R7, which replaces IC 70-6R6 (dated August 29, 2014), the Canada Revenue Agency (CRA) outlines the types of rulings that may be shared with … Read More