OECD: Further Guidance on CbC Reporting
On 30 November 2017 the Inclusive Framework released further guidance for tax administrations and multinationals in relation to the implementation of Country-by-Country (CbC) Reporting under Action 13 of the action plan on base erosion and profit
See MoreOECD: MAP Statistics for 2016
Action 14 of the action plan on base erosion and profit shifting (BEPS) was concerned with improving the effectiveness and timeliness of dispute resolution mechanisms. The minimum standard under action 14 requires jurisdictions to try to resolve
See MoreSingapore: OECD concludes tax incentives meet international BEPS standards
Singapore is an "associated" jurisdiction under the BEPS (Base Erosion and Profit Shifting) project. Singapore’s available tax incentives were reviewed by the Forum on Harmful Tax Practices and found to be “not harmful” under the peer review
See MoreThailand: OECD concludes Thai incentives as harmful tax practices
The Thai government upon joining the base erosion and profit shifting (BEPS) inclusive framework, agreed to implement certain minimum standards under Action 5 (harmful tax practices). Part of the minimum standard under Action 5 relates preferential
See MoreOman joins the inclusive framework on BEPS
On 20 October 2017, the Sultanate of Oman has become the 103rd jurisdiction to join the inclusive framework on Base Erosion and Profit Shifting (BEPS). Members of the inclusive framework have the opportunity to work together with other OECD and G20
See MoreOECD: Comments published on tax challenges of digitalisation
On 27 October 2017 the OECD published comments received on the tax challenges of digitalization. A request for input had been published on 22 September 2017 inviting responses from interested parties with a deadline of 13 October 2017. Despite this
See MoreOECD: Implementation guidance for VAT on cross-border sales
On 24 October 2017 the OECD issued new implementation guidance on collecting consumption taxes on cross-border sales. The document is entitled “Mechanisms for the Effective Collection of VAT/GST Where the Supplier is Not Located in the
See MoreOECD: Report on peer reviews of preferential tax regimes
A report released by the OECD on 16 October 2017 noted that countries are dismantling or amending almost 100 preferential tax regimes as part of the implementation of standards under the project on base erosion and profit shifting (BEPS). The report
See MoreOECD: Forum on Tax Administration meets to discuss tax priorities
The Forum on Tax Administration (FTA) discussed tax issues at its plenary meeting on 27 to 29 September 2017. The FTA includes the Tax Commissioners of fifty tax administrations covering industrialized and emerging economies including the OECD and
See MoreOECD: Peer review reports on dispute resolution mechanisms
On 26 September 2017 the OECD released six peer review reports evaluating efforts to improve dispute resolution mechanisms. The reports relate to implementation of measures by Belgium, Canada, Netherlands, Switzerland, the UK and the US. A document
See MoreOECD: Request for input on tax challenges of digital economy
On 22 September 2017 the OECD issued a request for input on work relating to the tax challenges of the digital economy. The OECD is requesting public comments on important issues relating to tax challenges raised by digitalization and potential
See MoreOECD: Appropriate use of information in CbC reports
On 6 September 2017 the OECD released guidance in relation to the appropriate use of information in Country by Country (CbC) reports exchanged under action 13 of the project on base erosion and profit shifting (BEPS). This includes guidance on the
See MoreOECD: Further guidance on CbC reports
Further guidance has been issued by the OECD's Inclusive Framework on BEPS in relation to the implementation and operation of Country-by-Country (CbC) reporting under Action 13 of the project on base erosion and profit shifting (BEPS). This latest
See MoreKorea: 2017 tax reform proposals announced
The government of South Korea is planning to increase the tax rate for large companies and high-earning individuals with the hope of reducing inequality. With this aim, Korea’s Ministry of Strategy and Finance announced the 2017 tax reform
See MoreDTA between Japan and Slovenia will enter into Force
The Japanese Ministry of Finance on 26 July 2017 issued a press release announcing that the double taxation agreement (DTA) between Japan and Slovenia, signed on 10 September 2016, will enter into force on 23 August 2017. The Treaty contains
See MoreUK: Updated draft guidance on corporate interest restriction
On 4 August 2017 HMRC issued for public consultation updated draft guidance in relation to the corporate interest restriction rules to be included in the Finance Bill (No 2) 2017. The latest draft guidance amends and updates the initial draft
See MoreOECD: Report on branch mismatch rules
On 28 July 2017 the OECD’s Committee on Fiscal Affairs (CFA) issued a document entitled Neutralising the Effects of Branch Mismatch Arrangements, Action 2. This document was issued as part of the implementation of the action plan on base erosion
See MoreOECD updates guidance on country by country reporting
On 20 July 2017 the OECD published updates to the guidance on country by country (CbC) reporting requirements under Action 13 of the project on base erosion and profit shifting (BEPS). This guidance for tax administrations and multinational groups
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