Cyprus and France sign the DTA to strengthen economic ties
On 11 December 2023, the Convention for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance, and its Protocol between the Republic of Cyprus and the French Republic, was signed in
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Tax Treaty Brief: November 2023
Croatia and Cyprus On 27 October 2023, Cyprus ratified the Double Taxation Agreement (DTA) with Croatia. Cambodia, Congo (Dem. Rep.), Senegal, Sri Lanka, and Turkey On 26 October 2023, the Turkish Parliament approved the Double Taxation
See MoreOECD Releases Information and Statistics on Mutual Agreement Procedures
On 14 November 2023 the OECD released the 2022 Mutual Agreement Procedures (MAP) Statistics, covering 133 jurisdictions worldwide. The release of these statistics each year is part of the actions to improve dispute prevention and resolution in line
See MoreOECD: Peer Review Report on Tax Transparency and EOI in Serbia
On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Serbia’s implementation of the standard on transparency and exchange of information (EOI). The report assesses the legal and regulatory framework at 4
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OECD: Peer Review Report on Tax Transparency and EOI in Latvia
On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Latvia’s implementation of the standard on transparency and exchange of information (EOI). Latvia’s implementation of the EOIR standard was given an
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OECD: Peer Review Report on Tax Transparency and EOI in Poland
On 8 November 2023 the Global Forum on Transparency and Exchange of Information for Tax Purposes published the second-round peer review report on Poland’s implementation of the standard on transparency and exchange of information (EOI). Poland’s
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UN Tax Committee considers transfer pricing and treaty issues
The 27th session of the UN Committee of Experts on International Cooperation in Tax Matters took place from 17 to 20 October 2023. Subcommittees dealing with various areas of taxation presented updates to the Tax Committee on their
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Tax Treaty Brief: October 2023
Andorra and Croatia On 28 September 2023, the Croatian parliament approved the ratification of the Double Taxation Agreement (DTA) with Andorra. Iran and Ukraine On 26 September 2023, Ukraine has published Letter No. 72/14-612/1-114650
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US and Israel sign agreement on the exchange of CbC reports
The Internal Revenue Service (IRS) of the United States has released the competent authority arrangement concerning exchanging Country-by-Country (CbC) Reports with Israel. As per the IRS CbC Reporting Jurisdiction Status Table, this arrangement
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Armenia ratifies MCCA on the exchange of financial account information
On 3 October 2023, the President of Armenia, Vahagn Khachaturyan, signed the law to ratify the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA). This agreement facilitates the exchange
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Tax Treaty Brief: September 2023
Bangladesh and Hong Kong On 30 August 2023, the Govt. officials from Bangladesh and Hong Kong signed a Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
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Hong Kong and Bangladesh enter into tax pact
On 30 August 2023, the Secretary for Financial Services and the Treasury, Mr Christopher Hui, on behalf of the Hong Kong Special Administrative Region Government signed a comprehensive avoidance of double taxation agreement (CDTA) with Bangladesh.
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ASEAN Requests a Review of the Global Minimum Tax
On 19 August 2023, at the ASEAN Economic Ministers' meeting, the Chair of the ASEAN Investment Area (AIA) Council called for a review of the global minimum tax that is being implemented under Pillar Two of the OECD two-pillar international tax
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Tax Treaty Brief: August 2023
Albania and Slovak Republic On 26 July 2023, the Council of Ministers in Albania approved the draft legislation for the ratification of the Double Taxation Agreement (DTA) with the Slovak Republic. Germany and Switzerland On 26 July
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OECD: Facilitating the Use of Treaty Exchanged Information for Non-Tax Purposes
Sharing of treaty-exchanged information with relevant law enforcement agencies for non-tax purposes helps to combat illicit financial flows (IFFs), money laundering and corruption. Institutions often face operational challenges in implementing this
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Tax Treaty Brief: July 2023
Cyprus and Netherlands On 30 June 2023, the Double Taxation Agreement (DTA) between Cyprus and the Netherlands entered into force. The DTA contains withholding tax rates for Dividends 0% for at least 5% capital holding; otherwise, 15%,
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Tax Treaty Brief: June 2023
Slovenia and Switzerland On 30 May 2023, Slovenia and Switzerland officially signed an amending protocol to update the Double Taxation Agreement (DTA) between the two nations. The primary objective of this protocol is to ensure that the DTA
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UK: Consultation on Changes to Transfer Pricing Rules
On 19 June 2023 the UK government launched a consultation on potential reforms to the UK legislation on transfer pricing, permanent establishments, and diverted profits tax. Transfer Pricing - provision Currently section 147 TIOPA refers to a
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