Kazakhstan and the US signed the Intergovernmental Agreement FATCA, which will automatically exchange financial information on the taxpayers of residents of each country to support efforts to enforce tax laws.

The agreement was signed in Astana on September 11, 2017. Minister of Finance of Kazakhstan emphasized the importance of FATCA as a global data exchange system and that he expects that the agreement will have a positive impact on the taxation system in Kazakhstan.

By the end of September, the legal status of Bitcoin cryptography will be determined in Ukraine.

According to the National Bank of Ukraine, its definition is complicated by the lack of a consolidated approach to the classification of Bitcoin and the regulation of transactions with it.

The National Bank has already started a dialogue with the Ministry of Finance, the DFS, the State Financial Monitoring Service, the National Securities and Stock Market Commission, and the National Commission for the regulation of financial services markets to develop a common position on the legal status of Bitcoin and its regulation.

The Association Agreement between the European Union and Ukraine fully entered into force.
The association agreement, including the free trade area is the main instrument of approchement between Ukraine and the EU, providing basis for modernizing trade relations and economic development of Ukraine by opening markets and harmonizing laws in accordance to EU standards, regulations and international norms.
The Agreement will ensure closer cooperation between Brussels and Kiev in areas such as foreign policy, justice, education, science and technology.

The UK tax authority, HM Revenue and Customs (HMRC), has issued a guide for enterprises to prepare country reports in the required format.

The CbC report is part of a new three-tiered standardized approach to the transfer of pricing documentation proposed under Action 13 of the OECD BEPS Project.

Taxpayers need to create a valid HML file that corresponds to the OECD scheme and send it to the HMRC using the reporting service, which will be available shortly.

According to a new report by the IMF, eurozone countries should reduce their labor taxes to increase employment, productivity and increase indirect taxes.

The IMF said that, despite the years required to implement tax reform, countries would benefit from adopting a more favorable combination of taxes and costs for growth.

IMF also said that Italy could finance a reduction in labor taxes by streamlining tax expenditures and extending the tax base, as well as introducing a modern property tax, while Germany would benefit from lower taxes on labor.


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