OECD: Discussion Draft on Transfer Pricing for Financial Transactions
On 3 July 2018 the OECD released a discussion draft on financial transactions in relation to BEPS actions 8 to 10 (ensuring that transfer pricing outcomes are in line with value creation). This has been issued as part of the follow-up work on the
See MoreSweden: Tax Authority publishes guidelines on use of CbC report information
On 18 May 2018, the Swedish tax authority issued guidelines, clarifying its use of country-by-country (CbC) report information. The guidelines are in line with the OECD guidelines on the appropriate use of information included in CbC reports that
See MoreOECD and IGF issue draft toolkit on costing behavioural responses to tax incentives
On 18 June 2018 the OECD published a draft toolkit to help developing countries identify and cost the potential behavioural responses by mining investors to tax incentives. Comments on the draft toolkit are invited from interested parties by 6 July
See MoreOECD considers updating guidance on transfer pricing for intragroup services
The OECD is considering revising the guidance in Chapter VII (intragroup services) of the transfer pricing guidelines. A consultation has been held, for which the closing date for comments was 20 June 2018, and the comments from interested parties
See MoreOECD: Working Party considers revising Chapter IV of the transfer pricing guidelines
The OECD is considering revising the guidance in Chapter IV (administrative approaches) of the transfer pricing guidelines. A consultation has been held, for which the closing date for comments was 20 June 2018, and the comments from interested
See MoreOECD: Multilateral Instrument ratified by Serbia
The OECD has reported that on 5 June 2018 Serbia deposited with the OECD Secretary General its instrument of ratification in relation to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
See MoreLuxembourg: Cabinet approves a bill for the ratification of BEPS MLI
On 15 June 2018, the Luxembourg Cabinet approved a bill ratifying the Multilateral Agreement on the Implementation of Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), which Luxembourg signed on 7 June 2017. Upon
See MoreUnited Nations Releases Extractive Industries Handbook
The United Nations has released the Extractive Industries Handbook at the 16th Session of the UN Committee of Experts held in New York from 14 to 17 May 2018. The handbook focuses on specific areas on interest for developing countries in taxing
See MoreMalta ratifies MLI
On 27 April 2018, Legal Notice 142 of 2018, which ratifies the BEPS Multilateral Instrument (MLI) in Malta, was published in the Official Gazette No. 19,984. Malta now needs to deposit its instrument of ratification, approval or acceptance of the
See MoreEl Salvador issues new Transfer Pricing Guidelines
On 21 March 2018, the General Directorate of Internal Taxes of the Ministry of Finance issued the Transfer Pricing Orientation Guide (DG-001/2018). These guideline is intended to help taxpayers to comply with the following legal obligations: The
See MoreOECD: Further guidance on attribution of profits to permanent establishments
On 22 March 2018 the OECD issued a report entitled “Additional Guidance on the Attribution of Profits to Permanent Establishments, BEPS Action 7”. This latest guidance follows the issue of a discussion draft on 22 June 2017 containing guidance
See MoreSlovenia deposited its instrument of ratification of the MLI
The OECD announced on 22 March 2018 that the multilateral monvention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI) will first enter into force on 1 July 2018, following Slovenia’s deposit of the fifth
See MoreOECD announces date of entry into force of multilateral instrument
On 22 March 2018 the OECD announced that the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting is to enter into force on 1 July 2018. The Convention allows the signatories to quickly and
See MoreEU: Proposals on taxation of digital activities
On 21 March 2018 the European Commission proposed rules on taxation of digital business activities in the EU. These tax measures propose to adapt the tax laws for the digital economy. The tax rules for digital businesses including social media
See MoreUK: update on corporate taxation and the digital economy
In March 2018 the UK has issued an updated position paper on corporate taxation and the digital economy, following an earlier consultation on the issue. The UK government considers that the engagement and participation of users is important for
See MoreOECD: Interim report on tax challenges of the digital economy
The interim report on tax challenges of the digital economy was published on 16 March 2018. The 2015 report on action 1 of the action plan on base erosion and profit shifting (BEPS) on tax challenges of the digital economy outlined the ways in
See MoreOECD: Tax disclosure rules for advisors and intermediaries
On 9 March 2018 the OECD has issued model disclosure rules requiring lawyers, accountants, financial advisors, banks and other service providers to inform tax authorities of any schemes they set up for their clients to avoid reporting requirements
See MoreOECD: Third round of peer reviews on dispute resolution mechanisms
On 12 March 2018 the OECD released the third round of peer reviews relating to improving tax dispute resolution mechanisms to make them more timely, relevant and effective. Action 14 of the action plan on base erosion and profit shifting (BEPS) was
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