UK: Consultation document on digital services tax
On 8 November 2018 the UK government issued a consultation document on the proposed digital services tax. Comments are invited from interested parties before 28 February 2019. As part of the budget proposals the Chancellor of the Exchequer
See MoreJapan: Tax authorities publishes the synthesized text with Israel, New Zealand, Poland, Slovakia, Sweden and the UK
Recently, the Japanese tax authorities published the synthesized text of the Japanese tax treaties with Israel, New Zealand, Poland, Slovakia, Sweden and the United Kingdom (UK) as modified by the MLI. The synthesized text reflects the agreement
See MoreUkraine: Draft law on implementation of BEPS provisions
On 24 October 2018, Ukraine published a draft law on the implementation of some of the recommendation of the OECD/G20 reports on Base Erosion and Profit Shifting (BEPS). The draft law was developed by the Finance Ministry and National Bank supported
See MoreWorld Bank: Report on the changing nature of work
On 12 October 2018 the World Bank issued World Development Report 2019: The Changing Nature of Work. The report notes that technology is creating jobs, increasing productivity and delivering effective public services and suggests that public fears
See MoreOECD and World Bank call for streamlined approach to combating tax evasion and corruption
On 22 October 2018 the OECD and the World Bank produced a joint report on Improving Cooperation between Tax Authorities and Anti-Corruption Authorities in Combating Tax Crime and Corruption. The joint report was launched at the eighteenth
See MoreOECD: Tax Talk discusses progress on key tax issues
An OECD Tax Talk on 16 October 2018 discussed the latest developments on tax issues. Tax Challenges of Digitalisation In March 2018 the Task Force on the Digital Economy (TFDE) sent an interim report to the G20 on the tax challenges of
See MoreOECD: CRS avoidance through residence and citizenship by investment schemes
On 16 October 2018 the OECD has published the results of its analysis of over 100 schemes for citizenship by investment and residence by investment (CBI/RBI) offered by jurisdictions that are committed to the common reporting standard (CRS). These
See MoreOECD: Policy Note on Tax and Digitalisation
On 19 October 2018 the OECD issued a policy note on tax and digitalization. The policy note looks at the challenges to tax systems arising from the digital economy and the opportunities and risks presented. A review of the international tax rules to
See MoreOECD and IGF release practice notes on BEPS risks in mining
On 19 October 2018 the OECD announced that a first set of practice notes for developing countries on BEPS risks in the mining sector have been finalized. The practice notes have been developed by the OECD’s Centre for Tax Policy and
See MoreEU: Progress on tax on digital companies
The head of tax for the European Commission has said in an interview on 10 October 2018 that details of a new tax on large technology companies could be agreed by the end of the year. Currently corporate income tax systems in the EU are based on
See MoreEU: Tax Rulings Issued by Luxembourg were not State Aid
On 19 September 2018 the European Commission determined that the non-taxation of certain profits arising to McDonald's Europe Franchising in Luxembourg did not amount to illegal State aid. The Commission had investigated under EU State aid rules
See MoreOECD: Inclusive Framework issues further guidance on CbC reporting
On 13 September 2018 the OECD’s Inclusive Framework released additional interpretative guidance in relation to Country-by-Country (CbC) reporting under Action 13 of the OECD/G20 report on base erosion and profit shifting (BEPS). More than 100
See MoreOECD: Fourth round of peer review reports on tax dispute resolution mechanisms
On 30 August 2018 the OECD released a fourth batch of peer review reports in relation to BEPS action 14 on improving tax dispute resolution mechanisms. These stage 1 reports assess the efforts made by each of the countries to implement the minimum
See MoreHong Kong signs multilateral competent authority agreement on exchange of CbC reports
Hong Kong joined the multilateral competent authority agreement on the exchange of country-by-country reports (CbC MCAA). The CbC MCAA was signed by Hong Kong on 27 July 2018. The purpose of the CbC MCAA is to set forth rules and procedures as may
See MoreUkraine signs MLI to implement tax treaty related BEPS measures
On 23rd July 2018, Ukrainian Acting Finance Minister Oksana Markarova signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. The minister expressed that the signing of the MLI makes
See MoreG20 Finance Ministers issue communiqué
Following their meeting of 19 and 20 2018 the G20 Finance Ministers issued a communiqué covering the topics discussed. Issues affecting international tax are summarized below: Technology The communiqué notes that the benefits of technological
See MoreOECD: Inclusive Framework Issues Progress Report
The OECD’s Inclusive Framework on base erosion and profit shifting (BEPS) has issued a progress report of its activities in the year to June 2018. The report indicates that significant developments have taken place in BEPS implementation during
See MoreOECD: Report on Improving Tax Certainty Prepared for G20 Finance Ministers
On 23 July 2018 the OECD released a report on approaches to improving tax certainty, prepared for the G20 Finance Ministers who met on 19 and 20 July 2018. The report focuses first on developments in the OECD and G20 countries such as the
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