KPMG Global

About
International Annual Review 2012

The KPMG International Annual Review focuses on our record of achievement and those who define us as an organization: clients, people and communities.

Leading change in our society

We will build and sustain our reputation as the best firm to work with by ensuring that our people, our clients and our communities achieve their full potential.
Topics
Global IFRS Institute

KPMG's Global IFRS Institute provides information and resources to help Board and Audit Committee Members, Executives, Management, Stakeholders and Government Representatives gain insight on the evolving global financial reporting framework.

Climate Change and Sustainability Services

CC&S is a global network of professionals providing sustainability & climate change services delivering value to corporate & public sector clients.
Industries
Mining

Mining organizations need to adapt across the mining asset lifecycle, from expansion to closure, as changing economic, political and regulatory environment demand greater flexibility.

Chemicals

The Chemical industry’s landscape is changing fast - global companies are developing or launching new products and services – and appear optimistic - setting sights on geographic expansion.
Services
- Tax rates online
Research
Something to teach, Something to learn: Global perspectives on healthcare

Something to Teach, Something to Learn addresses practitioners rather than policy makers - and it champions real and successful developments as well as showing how new theories can be applied in the real world.

Green Tax Index

This report provides an analysis of the complex, fragmented and rapidly evolving green tax landscape worldwide. It aims to encourage companies to explore the opportunities of green tax incentives, and to reduce exposure to green tax penalties.
Careers
Global job search

The global job search tool allows you to search available career opportunities within many of our 150 member firms worldwide.

International case competition

KPMG's International Case Competition (KICC) is a chance for students to challenge yourself to solve a real business issue and an opportunity to meet new people across the globe.

Details

Service: Tax, International Corporate Tax, Global Compliance Management Services
Type: Regulatory update
Date: 11/15/2012

Denmark - Update on income tax treaty with China

November 15: A new income tax treaty between Denmark and China would reduce—from from 10% to 5%—the withholding tax rate on dividends that a company receives from another company in which it owns at least 25% of the capital.

Initially, it appeared that the new withholding and other provisions of the Denmark-China income tax treaty would not be effective until January 2014, but depending on each country’s completion of its ratification processes, it could be possible that the treaty provisions might have an earlier effective date.

The treaty is scheduled to enter into force 30 days after the two countries have notified each other that they have completed their respective ratification processes, so that the treaty provisions would then be effective as of the January the year following completion of the treaty’s ratification.

Initially, the Danish tax authorities suggested that the Danish ratification processes would not be completed until 2013—meaning the treaty’s provisions would be effective beginning 1 January 2014. However, observers note that it is possible that the Danish ratification measures could be completed by 30 November 2012, so that the treaty’s provisions could be effective beginning 1 January 2013.

Yet, ratification in China would also be required before the treaty could enter into force—regardless of action on the treaty in Denmark.

KPMG observation

Given that it may be possible that the treaty’s effective date could be as early as 1 January 2013, Danish parent companies satisfying the 25% holding requirement of capital ownership may want to consider whether there could be advantages for dividend payments from Chinese companies to be made after 30 November 2012.

Read a November 2012 report (Danish) prepared by the KPMG member firm in Denmark: Ny dobbeltbeskatningsoverenskomst med Kina – måske i 2013

©2012 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International.

KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.

The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Direct comments, including requests for subscriptions, to go-fmtaxnewsflash@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)

Already a Subscriber? Login

Not a member? Subscribe now

Contact us

Media/reprint requests
Tell us what you think - We value your feedback and suggestions on TaxNewsFlash.
Technical concerns and questions

TaxNewsFlash by region

TaxNewsFlash home

TaxNewsFlash-Europe by country

TaxNewsFlash-Europe home

© 2013 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.