Platform for Collaboration on Tax: taxation of offshore indirect transfers
On 16 July 2018 the Platform for Collaboration on Tax (PCT) published a new draft of its toolkit on the taxation of offshore indirect transfers of assets. The PCT was set up by the IMF, OECD, UN and World Bank at the request of the G20 of countries
See MoreU.S. and Indonesia sign an agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of the U.S. and Indonesia have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreUK: Provisions of updated tax treaty with Cyprus
The updated UK-Cyprus Double Taxation Agreement (DTA) signed on March 22 2018 aligns the provisions more closely with the OECD Model. Withholding tax The new treaty when in effect will provide for zero withholding tax on dividends unless they are
See MoreHong Kong and Finland enter into comprehensive avoidance of double taxation agreement
On 24 May 2018, Hong Kong and Finland signed a comprehensive avoidance of double taxation agreement (CDTA). The CDTA sets out the allocation of taxing rights between the two jurisdictions and will help investors better assess their potential tax
See MoreUN releases the 2017 update to the UN Model Convention
The UN released the 2017 update to the UN Model Convention at the 16th Session of the UN Committee of Experts in New York held from 14 to 17 May 2018. The updated Convention contains a new preamble emphasizing that tax treaties should not create
See MoreUS and Indonesia sign MOU on the exchange of CbC reports
On April 26, 2018, the Internal Revenue Service issued a Memorandum of Understanding (MOU) between the Competent Authorities of the United States (US) and Indonesia, which includes an announcement of the temporary suspension of Indonesia's secondary
See MoreQatar: Qatari Amir approves a decree to ratify existing DTA with Gambia
The Amir of Qatar, Sheikh Tamim bin Hamad Al Thani, has approved a decree on May 13, 2018, for the ratification of the existing income tax treaty with Gambia for the avoidance of double taxation. This treaty was signed on November 18, 2014 and it
See MoreHong Kong and India sign an agreement on avoidance of double taxation
On 19 March 2018, Hong Kong and India signed a tax treaty for the avoidance of double taxation. The agreement sets out the allocation of taxing rights between the two jurisdictions and will help investors better assess their potential tax
See MoreOECD: Global Forum Issues Peer Review Reports
On 4 April 2018 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published peer review reports on nine countries. The reports assess the countries’ compliance with the agreed international standards in
See MoreLuxembourg and France sign new tax treaty
On 20 March 2018, Luxembourg and France signed a new income tax treaty and a new protocol, replacing the current double tax treaty signed on 1 April 1958. The Treaty contains a number of treaty-based recommendations including BEPS action 14 (making
See MoreOECD announces date of entry into force of multilateral instrument
On 22 March 2018 the OECD announced that the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting is to enter into force on 1 July 2018. The Convention allows the signatories to quickly and
See MoreAgreement to Create the African Continental Free Trade Area
On 21 March 2018 leaders of 44 African countries signed an agreement to create the African Continental Free Trade Area (AfCFTA). The agreement if implemented would remove barriers to trade, such as tariffs and import quotas, allowing the free flow
See MoreSweden: Draft legislation submits to Parliament for the Ratification of the BEPS MLI
On 15 March 2018, Government submitted draft legislation to the Parliament for the Ratification of the BEPS MLI. The MLI will generally apply for a particular Swedish bilateral tax treaty after both Sweden and the other party to the treaty have
See MoreNetherlands-Malawi: Dutch Lower House of Parliament approves tax treaty
The Dutch lower house of parliament approved the pending income tax treaty with Malawi on 15th March 2018, signed on 19th April 2015. The treaty enters into force on the last day of the month following the month in which the ratification instruments
See MoreMorocco: Council of Ministers approve DTA with Zambia
On January 22, 2018, the Council of Ministers of Morocco has approved the income tax treaty with Zambia. The treaty provides for the avoidance of double taxation and the allocation of taxing rights over various categories of income. It was signed on
See MoreIsrael: DTA with Austria will enter into force on March 1, 2018
On March 1, 2018, the Double Taxation Agreement (DTA) between Austria and Israel will enter into force .This will be applicable from January 1, 2019. From this date, the new DTA replaces the existing DTA of
See MoreCroatia: Parliament ratifies DTA with Kazakhstan
The parliament ratified the Double Taxation Agreement (DTA) on January 26, 2018, with Kazakhstan for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. It was signed on October 12,
See MoreKazakhstan: Senate approves protocol to DTA with India
On January 25, 2018, the upper chamber of the parliament or the Senate of Kazakhstan approved the amending protocol of Double Taxation Agreement (DTA) with India. It was approved by the lower chamber of parliament on December 20,
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