61 new tax treaties effective from 1 January 2018 and corporate tax reforms in Argentina and Belgium
Cyprus - Saudi Arabia
Cyprus and Saudi Arabia signed an income tax treaty on 3 January 2018 in Riyadh. Further developments will be reported as they occur.
Czech Republic - Korea (Rep.)
On 12 January 2018, the Czech Republic - Korea (Rep.) Income Tax Treaty was signed. Once in force and effective, the new treaty will replace the former Czechoslovakia - Korea (Rep.) Income Tax Treaty (1992). When effective, the maximums rate of withholding tax will be:
New tax treaties
Sixty-one tax treaties and nine protocols became effective on 1 January 2018.
Local tax news
Argentina - Amendments to the Income Tax Law
On 29 December 2017 amendments to the Income Tax Law were gazetted. The main changes are the following:
The amendments to the corporate tax law were published on 29 December 2017. The most important changes are the following:
(a) The corporate income tax rate is reduced from 33% to 29% in 2018 and to 25% in 2020;
(b) The surcharge tax is reduced from 3% to 2% in 2018 and abolished from 2020.