The UK is currently going through significant reforms regarding pension regulations.
In the wake of recent corporate governance failings highlighted by BHS and Sports Direct, the UK government’s Business, Innovation and Skills Committee launched an inquiry investigating corporate governance in the UK.
The HMRC, the UK tax authority, published the draft legislation for the Finance Bill 2017, which includes measures to combat tax evasion and avoidance and to support businesses through the tax system.
As part of Finance Bill 2017, the UK published legislation to prevent employees obtaining tax and social security savings from the sacrifice of salary for non-cash benefits.
The Skatteverket, the Swedish tax administration, published a clarification stating that foreign employees without a permanent establishment (PE) in Sweden are not liable for the special payroll tax on certain earned income (SLF).
For assessing the financial year ending in 2017, taxpayers with cumulative related party transactions exceeding S$15,000,000 in audited accounts are required to complete a form for reporting related party transactions.
Effective January 1, 2017, the Workforce Singapore Agency Act will impose tighter regulations on retrenchments (redundancies) in Singapore.
The Council of Ministers approved a draft investment law that will repeal and replace the Foreign Capital Investment Law 13 of 2000.
The OECD published new documents on the framework on Base Erosion and Profit Shifting (BEPS) to support the global implementation of Country-by-Country Reporting (CbCR) in BEPS Action 13.
In line with the recommendations in Action 4 of the G20/OECD's Base Erosion and Profit Shifting (BEPS) project, new rules restricting interest deductions are being introduced and will take effect April 1, 2017.
Hungary announced plans to cut its corporate income tax rate starting in 2017.
More countries have adopted the Multilateral Competent Authority Agreements (MCAA) on the automatic exchange of information.