OECD: Global Forum 10th Anniversary Plenary Meeting

05 December, 2019

On 26 and 27 November 2019 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes held a meeting on its tenth anniversary. The meeting looked at the progress made on the tax transparency agenda. Banking

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Ukraine: MLI enters into force

05 December, 2019

On 1 December 2019, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force with respect to the Ukraine. On 8 August 2019, Ukraine deposited its instrument of

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OECD: The effect of exchange of information on bank deposits in IFCs

04 December, 2019

An OECD working paper published on 26 November 2019 looks at the impact of increasing tax transparency and exchange of information (EOI) on cross-border financial activity by analysing data on bank deposits in international financial centres

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Oman signs MLI to implement tax treaty related BEPS measures

30 November, 2019

On 26 November 2019, Oman signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Oman also signed the Multilateral Convention on Mutual Administrative Assistance in Tax

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Saudi Arabia Cabinet ratifies BEPS Multilateral Instrument (MLI)

28 November, 2019

On 15 November 2019, Saudi Arabia Cabinet has published a decree for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI), which was signed on 18 September 2018.

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Norway: BEPS multilateral instrument (MLI) enters into force

20 November, 2019

On 1 November 2019, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Norway. On 17 July 2019, Norway deposited its instrument of ratification regarding

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New Zealand: Inland Revenue updates its compliance focus on MNEs

18 November, 2019

On 1 November 2019, the Inland Revenue has published a document setting out its compliance focus in respect of Multinational Enterprises (MNEs). The document aimed to make tax compliance more transparent for businesses and provide transparency and

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Bosnia and Herzegovina signs MLI to implement tax treaty related BEPS measures

05 November, 2019

On 30 October 2019, Bosnia and Herzegovina signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). The countries involved in the Inclusive Framework are working towards implementation of the BEPS

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Estonia: Parliament considers bill to ratify BEPS Multilateral Instrument (MLI)

04 November, 2019

Recently, Bill No. 88 is submitted to the Estonian Parliament for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI), which was signed on 29 June 2018. After

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New Zealand: Inland Revenue clarifies about BEPS disclosure requirement

03 November, 2019

Recently, the New Zealand's Inland Revenue has introduced the Base Erosion and Profit Shifting (BEPS) disclosure requirement to support the new BEPS rules, including the expanded information collection powers applying to large multinational groups.

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Cyprus plans to implement EU Directive on mandatory disclosure rules by the end 2019

03 November, 2019

On 16 September 2019, the Cyprus Tax Department announced that the legislation implementing the EU Directive 2018/822 on mandatory disclosure requirements will be introduced before the end of 2019. The announcement confirmed that, for arrangements

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Italy publishes Law 117 to implement EU Directives

28 October, 2019

On 4 October 2019, Italy has published Law No. 117 in the Official Gazette, approving the legislative decrees for the implementation of several EU Directives. The Directives will be consulted on by parliament but do not require further approval

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Bulgaria: Draft bill on cross-border arrangements submits for public comment

24 October, 2019

Recently, the Bulgarian Ministry of Finance issued a draft bill and submitted it for public comment. The draft law transposing the provisions of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning

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Russia proposes Tax Policy for 2020 to 2022

23 October, 2019

On 30 September 2019, the Russian Government submitted the Draft Law to the State Duma. The draft law includes the following measures: The bill aims to change the approach to taxing companies in the digital sector. The draft law recommend that

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Belgium approves draft law to transpose EU directive on cross-border arrangements

15 October, 2019

On 11 October 2019, the Belgian Council of Ministers approved a draft law to transpose EU Directive 2018-822 of 25 May 2018 on reportable cross-border tax planning arrangements. The Directive includes measures to require the reporting of

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OECD: Tax Report to G20 Finance Ministers

11 October, 2019

The tax report by the OECD Secretary General to G20 Finance Ministers and Central Bank Governors was published on 9 October 2019. Digital Economy The digitalisation of the economy has led to problems in application of the existing tax rules

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Zambia presents the budget for 2020

09 October, 2019

On 27 September 2019, the Minister of Finance (MOF) presented the budget for 2020 to the National Assembly. Under the budget the following important amendments to the Income Tax Act will take effect from 1 January 2020: Corporate tax

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Denmark deposits ratification instrument for MLI

03 October, 2019

On 30 September 2019, Denmark deposited its ratification instrument for the Multilateral Convention to Implement Tax Treaty Related Measures (MLI) to Prevent Base Erosion and Profit Shifting. The MLI is designed to allow countries to swiftly add to

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