Sweden publishes CbC reporting threshold rules
The Swedish Tax Agency published a guidance on companies' country-by-country reporting (CbC) obligations with respect to short and extended tax years, and company divestments and restructurings on 15 January 2018. The guidance provides following
See MorePanama signs agreement for exchange of financial account information
On 15 January 2018 Panama signed the CRS Multilateral Competent Authority Agreement (CRS MCAA), the agreement for implementing the automatic exchange of financial account information under the Multilateral Convention on Mutual Administrative
See MoreOECD: Tax Talk Summarizes Progress on Tax Topics
On 15 December 2017 the OECD gave an online Tax Talk to summarize the progress made on the various ongoing tax initiatives. Harmful Tax Practices Peer review reports on the exchange of tax rulings were published in December 2017. More than 10,000
See MoreBulgaria: Multilateral Competent Authority Agreement signs for exchange of CbC reports
Bulgaria has signed the Multilateral Competent Authority Agreement (MCAA) on November 17, 2017 for the exchange of country by country (CbC) reports under action 15 of the OECD’s BEPS
See MoreOECD: 2017 edition of the Model Tax Convention released
On 18 December 2017 the OECD released the 2017 edition of the Model Tax Convention. This edition incorporates measures outlined in the final reports from the action plan on base erosion and profit shifting. The new edition reflects work on BEPS
See MoreOECD: second round of peer reviews on tax dispute resolution mechanisms
On 15 December 2017 the OECD issued the second round of analyses of individual country measures on improving dispute resolution mechanisms. This second batch consists of seven peer review reports and represents more stage 1 evaluations of the
See MoreNew Zealand: A tax bill to counter tax avoidance introduces into Parliament
On 6 December 2017, a tax bill to counter tax avoidance has been introduced into New Zealand’s Parliament by multinational companies and Minister of Revenue also published its commentary on the bill. Most provisions would enter into effect July
See MoreOECD: Peer reviews of exchange of information on tax rulings
On 4 December 2017 the OECD released the first analysis of progress by individual countries on the spontaneous exchange of information on tax rulings. This was one of the recommendations of the final report on action 5 of the project on base erosion
See MoreOECD: Further Guidance on CbC Reporting
On 30 November 2017 the Inclusive Framework released further guidance for tax administrations and multinationals in relation to the implementation of Country-by-Country (CbC) Reporting under Action 13 of the action plan on base erosion and profit
See MoreOECD: MAP Statistics for 2016
Action 14 of the action plan on base erosion and profit shifting (BEPS) was concerned with improving the effectiveness and timeliness of dispute resolution mechanisms. The minimum standard under action 14 requires jurisdictions to try to resolve
See MoreSingapore: OECD concludes tax incentives meet international BEPS standards
Singapore is an "associated" jurisdiction under the BEPS (Base Erosion and Profit Shifting) project. Singapore’s available tax incentives were reviewed by the Forum on Harmful Tax Practices and found to be “not harmful” under the peer review
See MoreThailand: OECD concludes Thai incentives as harmful tax practices
The Thai government upon joining the base erosion and profit shifting (BEPS) inclusive framework, agreed to implement certain minimum standards under Action 5 (harmful tax practices). Part of the minimum standard under Action 5 relates preferential
See MoreOman joins the inclusive framework on BEPS
On 20 October 2017, the Sultanate of Oman has become the 103rd jurisdiction to join the inclusive framework on Base Erosion and Profit Shifting (BEPS). Members of the inclusive framework have the opportunity to work together with other OECD and G20
See MoreOECD: Comments published on tax challenges of digitalisation
On 27 October 2017 the OECD published comments received on the tax challenges of digitalization. A request for input had been published on 22 September 2017 inviting responses from interested parties with a deadline of 13 October 2017. Despite this
See MoreOECD: Implementation guidance for VAT on cross-border sales
On 24 October 2017 the OECD issued new implementation guidance on collecting consumption taxes on cross-border sales. The document is entitled “Mechanisms for the Effective Collection of VAT/GST Where the Supplier is Not Located in the
See MoreOECD: Report on peer reviews of preferential tax regimes
A report released by the OECD on 16 October 2017 noted that countries are dismantling or amending almost 100 preferential tax regimes as part of the implementation of standards under the project on base erosion and profit shifting (BEPS). The report
See MoreOECD: Forum on Tax Administration meets to discuss tax priorities
The Forum on Tax Administration (FTA) discussed tax issues at its plenary meeting on 27 to 29 September 2017. The FTA includes the Tax Commissioners of fifty tax administrations covering industrialized and emerging economies including the OECD and
See MoreOECD: Peer review reports on dispute resolution mechanisms
On 26 September 2017 the OECD released six peer review reports evaluating efforts to improve dispute resolution mechanisms. The reports relate to implementation of measures by Belgium, Canada, Netherlands, Switzerland, the UK and the US. A document
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