OECD: Request for input on tax challenges of digital economy
On 22 September 2017 the OECD issued a request for input on work relating to the tax challenges of the digital economy. The OECD is requesting public comments on important issues relating to tax challenges raised by digitalization and potential
See MoreOECD: Appropriate use of information in CbC reports
On 6 September 2017 the OECD released guidance in relation to the appropriate use of information in Country by Country (CbC) reports exchanged under action 13 of the project on base erosion and profit shifting (BEPS). This includes guidance on the
See MoreOECD: Further guidance on CbC reports
Further guidance has been issued by the OECD's Inclusive Framework on BEPS in relation to the implementation and operation of Country-by-Country (CbC) reporting under Action 13 of the project on base erosion and profit shifting (BEPS). This latest
See MoreTaiwan: MOF publishes draft amendment to transfer pricing guidelines
The Tax Administration of the Ministry of Finance (MOF) has published a draft amendment to the transfer pricing guidelines for public consultation on 27th July 2017. According to the draft regulations, the Master File should include an overview of
See MoreOECD: Comments received on draft updates to Model Tax Convention
On 11 August 2017 the OECD published comments received on the draft 2017 updates to the OECD Model Tax Convention and commentary. The draft updates had been published for comment on 11 July 2017. Comments were received from the BEPS Monitoring
See MoreKorea: 2017 tax reform proposals announced
The government of South Korea is planning to increase the tax rate for large companies and high-earning individuals with the hope of reducing inequality. With this aim, Korea’s Ministry of Strategy and Finance announced the 2017 tax reform
See MoreDTA between Japan and Slovenia will enter into Force
The Japanese Ministry of Finance on 26 July 2017 issued a press release announcing that the double taxation agreement (DTA) between Japan and Slovenia, signed on 10 September 2016, will enter into force on 23 August 2017. The Treaty contains
See MoreUK: Updated draft guidance on corporate interest restriction
On 4 August 2017 HMRC issued for public consultation updated draft guidance in relation to the corporate interest restriction rules to be included in the Finance Bill (No 2) 2017. The latest draft guidance amends and updates the initial draft
See MoreOECD: Report on branch mismatch rules
On 28 July 2017 the OECD’s Committee on Fiscal Affairs (CFA) issued a document entitled Neutralising the Effects of Branch Mismatch Arrangements, Action 2. This document was issued as part of the implementation of the action plan on base erosion
See MoreOECD updates guidance on country by country reporting
On 20 July 2017 the OECD published updates to the guidance on country by country (CbC) reporting requirements under Action 13 of the project on base erosion and profit shifting (BEPS). This guidance for tax administrations and multinational groups
See MoreOECD: Draft 2017 updates to the Model Tax Convention
On 11 July 2017 the OECD issued the draft 2017 update of the OECD Model Tax Convention. The changes are to be submitted later in 2017 for approval by the Committee on Fiscal Affairs and the OECD Council. Some parts of the update relate to the
See MoreSlovak Republic: Government declares new corporate tax measures
The Government announced several changes in the corporate taxation area on 20th June 2017, including the introduction of a new patent box regime in line with the modified nexus approach developed as part of BEPS Action 5. The government also
See MoreAustria: Federal Council approves MLI to implement tax treaty related BEPS measures
On 5 July 2017, the Federal Council of Austria approved the Multilateral Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting (MLI). Austria must now complete the ratification process and deposit its
See MoreOECD: Inclusive framework meeting for francophone countries
The second regional meeting of the Inclusive Framework for the francophone countries was held from 3 to 5 July 2017 in Benin. The meeting was organized by the OECD in partnership with CREDAF, an organization that brings together the tax
See MoreOECD: 2017 edition of the transfer pricing guidelines issued
On 10 July 2017 the OECD issued the 2017 edition of the OECD transfer pricing guidelines. The amendments made in the latest edition of the guidelines mainly arise from the transfer pricing aspects of the conclusions and recommendations of the
See MoreG20 final communiqué comments on international tax
The final communiqué from the G20 summit held on 7 and 8 July 2017 covers international tax among other matters. The G20 reaffirmed its commitment to the implementation of the project on base erosion and profit shifting (BEPS) and encouraged
See MoreMauritius signs MLI to implement tax treaty related BEPS measures
On 5 July 2017 at the OECD headquarters in Paris, the Ministry of Finance and Economic Development of Mauritius has signed the Multilateral Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting (MLI). Based
See MoreVietnam publishes guidance on new transfer pricing requirements
The Ministry of Finance on 22 June 2017 published Circular 41/2017 / TT-BTC (28 April 2017), which provides some guidelines for the application of Decree No 20/2017 and this Circular will take effect on 1 May 2017. Circular 41/2017 introduced some
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