08/2020
FTA publishes Circular Letter No. 49 "Proof of business-related expenses for foreign transactions abroad" and Circular Letter No. 50 "Inadmissibility of tax deduction of bribes paid to public officials".
Selina Many
On 13 July 2020, the FTA published Circular No. 49 "Evidence of business-related expenses for foreign-foreign transactions" and Circular No. 50 "Inadmissibility of the tax deduction of bribes paid to public officials". At the same time, the predecessor circulars of the same name, No. 9 of 22 June 2005 and No. 16 of 13 July 2007, are repealed.
The two circular letters are linked by mutual references and contain the following differences to the previous circular letters:
- The new Circular Letter No 49 takes account of developments in the international exchange of information, in particular with regard to the verification of payments abroad. At the same time, however, the FTA continues to emphasise the taxpayer's increased obligation to cooperate.
- In the new circular letter No. 50, the legal basis and various terms are further explained. It also deals with any notification obligations of the tax authorities in this context.
The circular letters are available here.
First publication:
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