OECD: Comments on CbC Reporting Consultation
On 9 March 2020 the OECD published comments received from interested parties on the consultation on country by country reporting. The consultation was launched in relation to the 2020 review of the CbC reporting rules provided for by the OECD as
See MoreTurkey: Revenue Administration issues decree on transfer pricing documentation
On 25 February 2020, the Turkish Revenue Administration has published Presidential Decree No. 2151 in the official gazette, which amends transfer pricing documentation rules. The decree aims to set out OECD’s Base Erosion and Profit Shifting
See MoreOECD: Economic Impact of Proposals on Taxation of the Digital Economy
An economic analysis and impact assessment is being carried out by the OECD to support the work of the OECD Inclusive Framework on tax challenges of the digital economy. A preliminary analysis was published on 14 February 2020, with a final
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 MoreOECD: Transfer Pricing Guidance on Financial Transactions
On 11 February 2020 the OECD released a report entitled Transfer Pricing Guidance on Financial Transactions: Inclusive Framework on BEPS: Actions 4, 8-10. The OECD reports on base erosion and profit shifting (BEPS) issued in 2015 requested
See MoreUkraine: Parliament approves draft law to implement BEPS provisions
On 16 January 2020, the Ukrainian Parliament approved draft laws on the improvement of the administration of taxes and elimination of certain inconsistencies in tax legislation (Law No 1209-1 and Law No 1210) to implement the Base Erosion and
See MoreOECD: Statement by the Inclusive Framework on Tax Challenges of the Digital Economy
A statement by the Inclusive Framework on base erosion and profit shifting (BEPS) released on 31 January 2020 noted that the international community will continue working on a long-term consensus-based solution to the tax challenges of the digital
See MoreRussia: Tax Dispute Resolution Peer Review
On 28 November 2019 the OECD published a stage 1 peer review report on the Russian Federation’s compliance with the minimum standard on tax dispute resolution under Action 14 of the project on base erosion and profit shifting (BEPS). The
See MoreChina: Tax dispute resolution peer review report
On 28 November 2019 the OECD published a stage 1 peer review report commenting on China’s compliance with the minimum standard on tax dispute resolution under Action 14 of the project on base erosion and profit shifting (BEPS). The
See MoreUkraine: MLI enters into force
On 1 December 2019, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force with respect to the Ukraine. On 8 August 2019, Ukraine deposited its instrument of
See MoreOman signs MLI to implement tax treaty related BEPS measures
On 26 November 2019, Oman signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Oman also signed the Multilateral Convention on Mutual Administrative Assistance in Tax
See MoreSaudi Arabia Cabinet ratifies BEPS Multilateral Instrument (MLI)
On 15 November 2019, Saudi Arabia Cabinet has published a decree for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI), which was signed on 18 September 2018.
See MoreNorway: BEPS multilateral instrument (MLI) enters into force
On 1 November 2019, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Norway. On 17 July 2019, Norway deposited its instrument of ratification regarding
See MoreNew Zealand: Inland Revenue updates its compliance focus on MNEs
On 1 November 2019, the Inland Revenue has published a document setting out its compliance focus in respect of Multinational Enterprises (MNEs). The document aimed to make tax compliance more transparent for businesses and provide transparency and
See MoreBosnia and Herzegovina signs MLI to implement tax treaty related BEPS measures
On 30 October 2019, Bosnia and Herzegovina signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). The countries involved in the Inclusive Framework are working towards implementation of the BEPS
See MoreEstonia: Parliament considers bill to ratify BEPS Multilateral Instrument (MLI)
Recently, Bill No. 88 is submitted to the Estonian Parliament for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI), which was signed on 29 June 2018. After
See MoreNew Zealand: Inland Revenue clarifies about BEPS disclosure requirement
Recently, the New Zealand's Inland Revenue has introduced the Base Erosion and Profit Shifting (BEPS) disclosure requirement to support the new BEPS rules, including the expanded information collection powers applying to large multinational groups.
See MoreCyprus plans to implement EU Directive on mandatory disclosure rules by the end 2019
On 16 September 2019, the Cyprus Tax Department announced that the legislation implementing the EU Directive 2018/822 on mandatory disclosure requirements will be introduced before the end of 2019. The announcement confirmed that, for arrangements
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