Platform for Collaboration on Tax: Draft Toolkit on Tax Treaty Negotiations
The Platform for Collaboration on Tax (PCT) has issued a draft toolkit on tax treaty negotiations. The period for feedback from interested parties is 29 June 2020 to 10 September 2020. The PCT was set up by the OECD, IMF, World Bank and UN to
See MoreOECD: Platform for Collaboration on Tax Finalises Toolkit on Offshore Indirect Transfers
On 4 June 2020 the Platform for Collaboration on Tax issued a final version of the Toolkit on the Taxation of Offshore Indirect Transfers. The Toolkit provides guidance in relation to designing measures to enable a country to tax gains arising
See MoreEgypt: Tax measures in response to COVID-19 pandemic
Recently, the Egyptian Government has announced several tax measures to mitigate the financial effect in response to the COVID-19 pandemic. The main tax measures are as following: Capital Gains: the extension of the suspension from the taxation
See MoreOECD: Seven peer review reports on BEPS Action 14 published
On 9 April 2020 the OECD published a further batch of reports in relation to stage 2 of the peer reviews of the implementation of Action 14 of the action plan on base erosion and profit shifting (BEPS). The minimum standard under BEPS action 14
See MoreOECD releases second peer review report on prevention of treaty abuse
On 24 March 2020 the OECD published the second peer review report on the implementation by countries of the minimum standard under Action 6 of the action plan on base erosion and profit shifting (BEPS). This is the second peer review report under
See MoreOECD: Tax issues for cross border workers during the COVID-19 crisis
On 7 April 2020 the OECD published on its website guidance on tax issues relating to cross-border workers during the crisis. As a result of travel restrictions and quarantine requirements many cross-border workers cannot go to the country where
See MoreEcuador: Internal Revenue publishes rules on dividend withholding tax
On 20 February 2020, the Internal Revenue Service published a Resolution NAC-DGERCGC20-00000013 of 20 February 2020 regarding rules of how to distribute the dividend withholding tax (WHT) by a resident company or a permanent establishment in
See MoreSouth Africa: SARS issues draft interpretation notes regarding WHT on interest and royalties
On 18 March 2020, the South African Revenue Service (SARS) issued two draft interpretation notes regarding the withholding tax (WHT) on interest and royalties for public comments until 29 May 2020. The draft interpretation note on withholding
See MoreECJ: Ruling on Outbound Dividends and Free Movement of Capital
On 9 March 2020 a ruling by the European Court of Justice (ECJ) in a case on free movement of capital was published. The case State of Canada v Autoridade Tributaria e Aduaneira related to dividends paid to the Canada Pension Plan Investment Board
See MoreOECD: Guidance and IT Tools released to support the TRACE system
On 25 February 2020 the OECD issued guidance on the the technical implementation of the TRACE initiative (Treaty Relief and Compliance Enhancement), together with the relevant IT formats. The TRACE system permits claims to be made in relation to
See MoreNorway issues a public consultation paper proposing WHT on interest, royalty payments
On 27 February 2020, the Norwegian Ministry of Finance published a public consultation paper proposing to introduce a withholding tax system for interest and royalty payments to related parties. The proposal aims to levy a 15% withholding tax
See MoreNorway issues public consultation for regarding the introduction of WHT on interest and royalties
On 27 February 2020, the Norwegian Ministry of Finance issued a public consultation paper introducing the withholding tax (WHT) on interest, royalty and certain lease payments to controlled parties. The withholding tax on interest payments
See MoreLatvia: MLI enters into force
On 28 February 2020, OECD has published the update list of signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for
See MoreIndonesia: Tax reform bill submits to House of Representatives
On 31 January 2020, the Directorate General of Taxation has submitted the tax reform bill to the House of Representatives. The bill proposed to cut the corporate tax rate to 22% in 2021 and 2022 and to 20% from 2023, and further reduce the
See MoreOECD: Tax Report to the G20 Finance Ministers
On 14 February 2020 the OECD published the Tax Report to the G20 Finance Ministers, in advance of their meeting on 22 and 23 February 2020. The report covers recent international tax developments. Tax challenges of the digital economy Pillar
See MoreIndia: Finance Minister presents Union Budget for 2020-2021
On 1st February 2020, Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2020-21 in the Lok Sabha. The budget includes the following key tax proposals: Abolishment of dividend distribution tax The budget proposes
See MoreUK: Statistics on Transfer Pricing and Diverted Profits Tax
On 27 January 2020 HMRC published statistics relating to transfer pricing and the diverted profits tax. HMRC had 441 full time equivalent staff working on international tax issues involving multinational groups in 2018/19, including transfer
See MoreCzech Republic: Senate approves DTA with Taiwan
On 30 January 2020, the Senate of the Czech Republic approved the Double Taxation Agreement (DTA) with
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