COVID-19: US passes Coronavirus Aid, Relief, and Economic Security (CARES) Act

31 March, 2020

On 19 March 2020, the US Senate Finance Committee submitted proposals for the third round of legislative measures in response to the economic impact of the coronavirus disease (COVID-19) pandemic. The Coronavirus Aid, Relief, and Economic Security

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ECJ: Ruling on Outbound Dividends and Free Movement of Capital

16 March, 2020

On 9 March 2020 a ruling by the European Court of Justice (ECJ) in a case on free movement of capital was published. The case State of Canada v Autoridade Tributaria e Aduaneira related to dividends paid to the Canada Pension Plan Investment Board

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ECJ rules on freedom of establishment and use of tax losses

15 March, 2020

On 27 February 2020, the European Court of Justice (ECJ) issued a decision in the case of Aures Holdings a.s. In 2007 the place of effective management of Aures was the Netherlands, and it was therefore treated at that time as Dutch tax

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ECJ: Decision on State Aid and Turnover Tax

14 March, 2020

On 3 March 2020 the European Court of Justice (ECJ) issued a decision in Vodafone Magyarország Mobil Távközlési Zrt. The company was a subsidiary of Vodafone Europe B.V operating in the telecommunications market and set up under Hungarian law.

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OECD: Comments on CbC Reporting Consultation

12 March, 2020

On 9 March 2020 the OECD published comments received from interested parties on the consultation on country by country reporting. The consultation was launched in relation to the 2020 review of the CbC reporting rules provided for by the OECD as

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WTO: Discussion of Future Objectives

10 March, 2020

On 3 March 2020 at an event on the future of the World Trade Organisation (WTO) an address was given by the Deputy Director General of the WTO summarising the work required to maintain and increase the benefit from the multilateral trading system.

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Turkey: Revenue Administration issues decree on transfer pricing documentation

27 February, 2020

On 25 February 2020, the Turkish Revenue Administration has published Presidential Decree No. 2151 in the official gazette, which amends transfer pricing documentation rules. The decree aims to set out OECD’s Base Erosion and Profit Shifting

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OECD: Economic Impact of Proposals on Taxation of the Digital Economy

15 February, 2020

An economic analysis and impact assessment is being carried out by the OECD to support the work of the OECD Inclusive Framework on tax challenges of the digital economy. A preliminary analysis was published on 14 February 2020, with a final

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OECD: Tax Report to the G20 Finance Ministers

15 February, 2020

On 14 February 2020 the OECD published the Tax Report to the G20 Finance Ministers, in advance of their meeting on 22 and 23 February 2020. The report covers recent international tax developments. Tax challenges of the digital economy Pillar

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OECD: Transfer Pricing Guidance on Financial Transactions

15 February, 2020

On 11 February 2020 the OECD released a report entitled Transfer Pricing Guidance on Financial Transactions: Inclusive Framework on BEPS: Actions 4, 8-10. The OECD reports on base erosion and profit shifting (BEPS) issued in 2015 requested

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Ukraine: Parliament approves draft law to implement BEPS provisions

10 February, 2020

On 16 January 2020, the Ukrainian Parliament approved draft laws on the improvement of the administration of taxes and elimination of certain inconsistencies in tax legislation (Law No 1209-1 and Law No 1210) to implement the Base Erosion and

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UK notifies the WTO of withdrawal from the European Union

04 February, 2020

A communication from the UK on 1 February 2020 (WT/GC/206) has set out detail on the implications for the World Trade Organisation (WTO) of its departure from the European Union (EU). The communication notifies the WTO that the UK ceased to be a

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UK: Statistics on Transfer Pricing and Diverted Profits Tax

03 February, 2020

On 27 January 2020 HMRC published statistics relating to transfer pricing and the diverted profits tax. HMRC had 441 full time equivalent staff working on international tax issues involving multinational groups in 2018/19, including transfer

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OECD: Statement by the Inclusive Framework on Tax Challenges of the Digital Economy

31 January, 2020

A statement by the Inclusive Framework on base erosion and profit shifting (BEPS) released on 31 January 2020 noted that the international community will continue working on a long-term consensus-based solution to the tax challenges of the digital

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WTO: Discussions on Investment Facilitation for Development

30 December, 2019

A meeting of the WTO’s Structured Discussions on Investment Facilitation for Development took place on 12 December 2019. The initiative was launched two years ago and WTO members aim to make progress on this issue before the 12th Ministerial

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Russia: Tax Dispute Resolution Peer Review

11 December, 2019

On 28 November 2019 the OECD published a stage 1 peer review report on the Russian Federation’s compliance with the minimum standard on tax dispute resolution under Action 14 of the project on base erosion and profit shifting (BEPS). The

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China: Tax dispute resolution peer review report

11 December, 2019

On 28 November 2019 the OECD published a stage 1 peer review report commenting on China’s compliance with the minimum standard on tax dispute resolution under Action 14 of the project on base erosion and profit shifting (BEPS).  The

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OECD: Revenue Statistics 2019

05 December, 2019

On 5 December 2019 the 2019 edition of the Revenue Statistics was released by the OECD. The publication shows that the average tax-to-GDP ratio in the OECD countries was 34.3% in 2018, almost the same as the ratio of 34.2% in 2017. In the United

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