Cyprus-OECD Convention and protocol on Mutual Administrative Assistance in Tax Matters enters into force
The multilateral convention and protocol between Cyprus and OECD regarding mutual administrative assistance in tax matters entered into force on 1 April 2015. The convention and the protocol were signed on 10 July, 2014. The convention and the
See MoreOECD holds public consultation on transfer pricing issues
On 19 and 20 March 2015 the OECD held a public consultation on transfer pricing matters arising from the action plan on base erosion and profit shifting. The first day of the conference dealt with the draft amendments and additions to Chapter 1 of
See MoreOECD publishes comments on prevention of artificial avoidance of PE status
On 13 January 2015 the OECD published on its website the comments received from interested parties on the discussion draft in respect of Action 7 of the action plan on base erosion and profit shifting (BEPS). This concerns prevention of artificial
See MoreOECD publishes comments received on restriction of treaty benefits
On 13 January 2015 the OECD published on its website the comments received from interested parties on Action 6 of the action plan on base erosion and profit shifting (BEPS). This concerns the prevention of tax treaty abuse and involves developing
See MoreCanada: Comments for OECD discussion draft on international VAT-GST guidelines
The Organization for Economic Co-operation and Development (OECD) has published a discussion draft on 18th December 2014 entitled “Guidelines on Place of Taxation for Business-to-Consumer Supplies of Services and Intangibles and Provisions on
See MoreOECD Releases Mutual Agreement Procedure Statistics for 2013
The OECD Model Tax Convention includes a provision for a mutual agreement procedure (MAP) in Article 25. Under this procedure the competent authorities of the two contracting states are required to endeavor to reach agreement to resolve issues that
See MoreOECD: Released a Roadmap to support developing countries in implementing the new global standard for the automatic exchange of tax information.
The Organization for Economic Co-operation and Development (OECD) released on September 22, 2014, goals to support developing countries in executing the new global standard for the automatic exchange of tax information. Finance Ministers of the
See MoreOECD – Approved updated 2014 model tax convention
The OECD (Organization for Economic Co-operation and Development) recently declared that the OECD Council has approved 2014 update to the OECD Model Tax Convention, scheduled to be published in the next few months. The 2014 Update brings following
See MoreCyprus signs the OECD Convention on Mutual Administrative Assistance in Tax Matters
Cyprus signed the CoE-OECD Convention on Mutual Administrative Assistance in Tax Matters and its Protocol on 10 July 2014. The Convention was developed jointly by the OECD and the Council of Europe in 1988 and amended by Protocol in 2010. The
See MoreOECD: BEPS project update with developments of Asian countries
In order to stop tax avoidance and evasion Asian countries are actively taking part with the Organization for Economic Cooperation and Development (OECD)’s plan. The OECD’s Action Plan is far reaching and will help support local Asian
See MoreSwitzerland and Singapore sign OECD agreement against tax evasion though banking secrecy
Forty seven countries participated in the Declaration on Automatic Exchange of Information in Tax Matters, adopted by the OECD on 6 May 2014. These countries included Switzerland and Singapore, two financial centers that have in the past been
See MoreKazakhstan – International Convention regarding tax issues signed
The Organization for Economic Co-operation and Development (OECD) has announced that Kazakhstan signed the international convention related to mutual administrative assistance in tax matters on December 23, 2013. According to the OECD release,
See MoreHungary Signs OECD Multilateral Tax Assistance Treaty
Hungary has become the 61st jurisdiction to sign the Organization for Economic Cooperation and Development’s multilateral treaty on multilateral tax assistance. This can be considered as a step of Hungary to its fight against cross-border tax
See MoreKenya: The Revenue Authority adduces “force of attraction” rule
Kenya’s tax treaties generally follow the provisions of the OECD Model Tax Convention. However despite the expectation under the OECD Model that only profits acquire or accumulate from Kenya and attributable to the permanent establishment should
See MoreOECD: Treatment of termination payments in tax treaties
A discussion document on the treatment of termination payments in tax treaties was issued by the OECD on 25 June 2013. The document discusses various categories of payment made to employees on or after the termination of their employment and
See MoreOECD releases draft handbook on transfer pricing risk assessment
The OECD has released for comment a draft handbook in respect of transfer pricing risk assessment. This is intended to be a practical resource for tax administrations to follow in developing a risk assessment approach to transfer pricing issues.
See MoreOECD: Treaty Relief and Compliance Enhancement (TRACE) system released
In 2006 the OECD’s Committee on Fiscal Affairs and the Business and Industry Advisory Committee (BIAC) set up an informal consultative group of government and business experts to work on improving the process by which portfolio investors may gain
See MoreOECD publishes comments on the revised discussion draft on beneficial ownership
The OECD has published the comments received from interested parties on its revised proposals in respect of the meaning of “beneficial ownership” for the purposes of Articles 10 to 12 of the OECD Model Tax Convention. The comments relate to the
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