EU: Report by European Commission on investor residence schemes
On 23 January 2019 the European Commission issued a report on citizenship by investment and citizenship by residence schemes operated by a number of EU Member States. The report looks at current practices and identifies some of the risks from such
See MoreSingapore deposits ratification instrument for MLI
On 21 December 2018, Singapore deposited its instrument of ratification of the Multilateral Agreement for the Implementation of Measures relating to the Prevention of Erosion and Profit Shifting (MLI). As of 21 December 2018, a total of 18 countries
See MoreOECD to launch Corporate Tax Statistics
The OECD announced on 11 January 2019 that a new report and dataset entitled Corporate Tax Statistics is to be published containing internationally comparable statistics and analysis relevant to the debate on tax policy. These statistics that will
See MoreUK: HMRC launches Profit Diversion Compliance Facility
On 10 January 2019 HMRC launched the Profit Diversion Compliance Facility targeting multinational companies using arrangements that may result in a liability to the diverted profits tax (DPT). These arrangements generally involve the reduction of
See MoreUK: Double tax treaty with Isle of Man enters into force
The double tax treaty between the UK and the Isle of Man entered into force on 19 December 2018. The treaty replaces the 1955 Arrangement between the UK and the Isle of Man for the avoidance of double taxation which ceases to have effect from the
See MoreOECD: Peer reviews on BEPS Action 5 minimum standard
On 13 December 2018 the OECD published the 2017 Peer Review Reports on the Exchange of Information on Tax Rulings. The peer reviews were conducted as part of the follow-up work and monitoring of developments in line with the recommendations of the
See MoreOECD: Inclusive Framework report on preferential tax regimes
On 15 November 2018 the OECD published a progress report in relation to the work by the Inclusive framework on base erosion and profit shifting (BEPS) on assessing preferential tax regimes. The Inclusive Framework is implementing the monitoring
See MoreUK: Consultation on the Corporate Capital Loss Restriction
On 29 October 2018 the government published a consultation document in relation to a restriction on the offset of corporate capital losses. The government is inviting comments from companies likely to be affected by the capital loss restriction and
See MoreOECD: Guidance on synthesised texts clarifying the impact of the MLI
The OECD announced on 16 November 2018 that new guidance is available for the development of synthesised texts presenting a clear overview of the modifications by countries to their bilateral double tax treaties as a result of applying the
See MoreOECD: Taxpayer input invited on seventh batch of Dispute Resolution peer reviews
On 15 November 2018 the OECD issued a request for taxpayers to submit input in relation to the seventh round of stage 1 peer reviews under action 14 of the OECD/G20 action plan on base erosion and profit shifting (BEPS). Action 14 is concerned with
See MoreUK: Finance (No 3) Bill 2018 published
The Finance (No 3) Bill 2018 was published on 7 November 2018. The second reading of the Bill in Parliament took place on 12 November 2018. When it has completed its passage through Parliament the Bill will become the Finance Act 2019 . The Bill
See MoreOECD: Inclusive Framework regional meeting for Eastern Europe and Central Asia
A regional meeting of the Inclusive Framework on base erosion and profit shifting (BEPS) for Eastern Europe and Central Asia was held in Armenia on 7 to 9 November 2018. Delegates from sixteen countries, international and regional organisations as
See MoreUK: 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 MoreUN: Committee of Experts Discusses International Tax Issues
The seventeenth session of the UN Committee of Experts on International Cooperation in Tax Matters took place in Geneva from 16 to 19 October 2018. Discussions at the seventeenth session considered issues for the next updates of UN publications on
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