OECD Tax Talk looks at international tax developments
The OECD Tax Talk held on 21 February 2022 provided an updated on important elements of tax work at the OECD. Two-Pillar International Tax Package Public consultations have begun and will cover the various building blocks of Pillar One on a
See MoreOECD: Tax Report for the G20 Finance Ministers
On 18 February 2022 the OECD presented its tax report for the G20 Finance Ministers and Central Bank Governors. The main parts of the report are summarised below. Two-Pillar International Tax Package In October 2021 the OECD Inclusive
See MoreSlovenia updates the TP guidelines
On 31 January 2022, the Slovenian Ministry of Finance updated the transfer pricing (TP) guidelines. The revised guidance includes the new documentation requirements and procedures for determining income and transfer pricing, including for
See MoreOECD: Consultation on draft rules for nexus and revenue sourcing under Pillar One
On 4 February 2022 the OECD published a public consultation document entitled Pillar One – Amount A: Draft Model Rules for Nexus and Revenue Sourcing, requesting input from stakeholders on the nexus and revenue sourcing rules under Amount A of
See MoreUAE: Corporate Income Tax to be Introduced from 2023
On 31 January 2022 the United Arab Emirates (UAE) announced that it is introducing a 9% corporate tax with effect from June 2023. This tax will raise more government revenue as the UAE continues the process of economic diversification,
See MoreSingapore publishes TP Guidelines on indicative margin for related-party loans
On 4 January 2022, the Singaporean Inland Revenue Authority updated transfer pricing guidelines to set the 2022 indicative margin at 1.8% for related-party loans. The indicative margins are applied on each related party loan not exceeding
See MoreOECD: Second Stage Peer Review of Guernsey under BEPS Action 14
On 24 January 2022 the OECD issued the stage 2 peer review report assessing Guernsey’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). Action 14 is concerned with making tax dispute
See MoreOECD: Stage Two Peer Review Report on Jersey under BEPS Action 14
On 24 January 2022 the OECD’s Inclusive Framework published the stage 2 peer review report on Jersey’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). Action 14 is concerned with
See MoreOECD: Stage Two Peer Review Report on Serbia under BEPS Action 14
On 24 January 2022 the OECD’s Inclusive Framework released the stage 2 peer review report on Serbia’s compliance with the minimum standard under Action 14 of the project on base erosion and profit shifting (BEPS). The minimum standard under
See MoreOECD releases latest edition of the Transfer Pricing Guidelines
On 20 January 2022 the OECD released the 2022 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The latest edition of the guidelines includes changes made to the 2017 edition by reports issued by
See MoreUK: Consultation on Implementing the Global Minimum Tax
On 11 January 2022 the UK launched a consultation on the implementation in the UK of the OECD agreement on Pillar 2, the global minimum tax. The consultation is looking for views on the implementation and administration in the UK of the OECD’s
See MoreEU: Proposed Directive on Global Minimum Tax
On 22 December 2021 the European Commission proposed a Directive to ensure that large multinational groups are subject to a global minimum effective tax rate. The proposal follows the terms of the international agreement on Pillar 2 of the OECD
See MoreOECD: Global Anti-Base Erosion (GloBE) Rules
On 20 December 2021 the OECD published the document Tax Challenges Arising from the Digitalisation of the Economy – Global Anti-Base Erosion Model Rules (Pillar Two). The Global Anti-Base Erosion (GloBE) Rules provide for large multinational
See MoreEU: Tax Policy Plans for 2022
At a meeting of the EU Parliament’s FISC subcommittee on 30 November 2021, the EU Commissioner responsible for economic and tax issues outlined the European Commission’s tax plans for 2022 and was questioned on the plans by members of the
See MoreUK: Responses to Consultation on Transfer Pricing Documentation
On 30 November 2021 the UK government published a summary of responses to the consultation on transfer pricing documentation held earlier in 2021. The original consultation invited comments from interested parties on whether there should be a
See MoreOECD: New MAP statistics for 2020
On 22 November 2021 the OECD released updated mutual agreement procedure (MAP) statistics for 2020. The statistics cover 118 jurisdictions and include almost all MAP cases globally. The collection of the MAP statistics is one element in the minimum
See MoreOECD: Toolkit on Implementing the Standard on Exchange of Financial Account Information
In November 2021 the Global Forum on Transparency and Exchange of Information for Tax Purposes issued the Toolkit for the Implementation of the Standard for Automatic Exchange of Financial Account Information. The toolkit aims to assist developing
See MoreEU: European Parliament passes provisions for public CbC reporting
On 11 November the European Union's Parliament voted to pass amendments to the EU Accounting Directive (2013/34/EU) on financial reporting of certain types of undertakings. The amendments would introduce public country-by-country reporting
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