EU: 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
See MoreUN: Tax Committee Discusses Transfer Pricing Issues
In its virtual meetings from 19 to 27 October 2021 the UN Tax Committee is considering aspects of transfer pricing. Among topics that could be pursued further are practical risk assessment tools, transfer pricing aspects of marketing or trading
See MoreUN: Committee of Tax Experts Discuss Model Treaty Provisions
The virtual meetings of the UN Committee of Experts on Tax Matters taking place from 19 to 28 October 2021 are considering issues arising from the UN Model Tax Convention that should be the subject of future discussion within the UN
See MoreUN: Meetings of the Committee of Tax Experts
The UN Committee of Experts on International Cooperation in Tax Matters is holding its 23rd session as a series of virtual meetings between 19 and 28 October 2021. The issues to be covered include the following: Tax and the Sustainable
See MoreOECD: Tax Policy and Climate Change
A report on Tax Policy and Climate Change, produced by the IMF and the OECD, was included as an attachment to the OECD report for the meeting of G20 Finance Ministers on 13 October 2021. Carbon taxes and emissions trading systems result in
See MoreOECD: Report on Developing Countries and the Inclusive Framework
For the meeting of G20 Finance Ministers on 13 October 2021 the OECD prepared a separate report entitled Developing Countries and the OECD/G20 Inclusive Framework on BEPS and included this as an attachment to the main report to the meeting. The
See MoreOECD: Report to G20 Finance Ministers Meeting
The OECD has published its report prepared for the meeting of G20 Finance Ministers on 13 October 2021. Two Pillar Solution on Tax Challenges of the Digital Economy The report notes that the two-pillar approach to digital economy taxation
See MoreAustria releases the new transfer pricing guideline for 2021
On 7 October 2021, the Austrian Ministry of Finance published the updated Austrian Transfer Pricing Guidelines (Austrian Guidelines) 2021. The Austrian Guidelines 2021 are an essential interpretative aid for the application of the arm’s-length
See MoreOECD: Inclusive Framework Signs Agreement on Two Pillar Solution
On 8 October 2021 a total of 136 member countries of the OECD/G20 Inclusive Framework on BEPS joined the Statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. The Statement finalised
See MoreIMF: Tax and Digitalisation in Asia
On 14 September 2021 the IMF held a digital seminar on Tax and Digitalisation in Asia, coinciding with the launch of an IMF paper on the same subject (Departmental Paper No 2021/017). Currently the most highly digitalised companies often escape
See MoreOECD: Podcast on the Global Digital Tax Agreement
On 9 September 2021 the OECD made available a podcast on the global digital tax agreement. The international tax system has become outdated during the past 30 to 40 years owing to the effects of globalisation. Multinational enterprises are more
See MoreOECD: Update on reviews of preferential tax regimes
On 05 August 2021 the OECD’s Inclusive Framework issued an update on progress made in combatting harmful tax practices. The updated included the results of reviews of preferential tax regimes that have now been approved by the Inclusive
See MoreSingapore releases updated Transfer Pricing Guidelines
On 10 August 2021, the Inland Revenue Authority of Singapore published the sixth edition of its E-Tax Guide on Transfer Pricing. The most important changes are summarized as follows: Additional guidance on cost contribution arrangements (CCAs)
See MoreOECD: Updates to Transfer Pricing Country Profiles
On 3 August 2021 the OECD issued an updated version of some of its transfer pricing country profiles, These include new country profiles for Angola, Romania and Tunisia, and updated profiles for seventeen other countries. The updated profiles have
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