UN: Committee of Experts to Hold Virtual Meetings
The United Nations Committee of Experts on International Cooperation in Tax Matters is to hold its twentieth session in the form of a virtual meeting in June and July 2020, including informal virtual meetings taking place between 22 and 26 June.
See MoreUkraine: Parliament adopts law on tax benefits and the moratorium on tax audit
On 28 May 2020, the Ukrainian Parliament has published Law No. 591-IX “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on Additional Support to Taxpayers for the Period of Measures to Prevent the Occurrence and Spread of
See MoreOECD: Tax Talk Summarises Ongoing Tax Projects
A Tax Talk held by the OECD on 4 May 2020 summarised the position on the current tax work in connection with the Covid-19 crisis and on the base erosion and profit shifting (BEPS) project. Tax measures in the Covid-19 crisis The Forum on Tax
See MoreOECD: Seven peer review reports on BEPS Action 14 published
On 9 April 2020 the OECD published a further batch of reports in relation to stage 2 of the peer reviews of the implementation of Action 14 of the action plan on base erosion and profit shifting (BEPS). The minimum standard under BEPS action 14
See MoreOECD releases second peer review report on prevention of treaty abuse
On 24 March 2020 the OECD published the second peer review report on the implementation by countries of the minimum standard under Action 6 of the action plan on base erosion and profit shifting (BEPS). This is the second peer review report under
See MoreLuxembourg issues Draft Law on the deduction of interest and royalties expenses
On 30 March 2020, the Luxembourg government has presented a Draft Law N°7547 to the Parliament introducing a non-deductibility of interest or royalties paid to associate enterprises established in countries that are “blacklisted” as being
See MoreCOVID-19: US passes Coronavirus Aid, Relief, and Economic Security (CARES) Act
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
See MoreECJ: Ruling on Outbound Dividends and Free Movement of Capital
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
See MoreECJ rules on freedom of establishment and use of tax losses
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
See MoreECJ: Decision on State Aid and Turnover Tax
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.
See MoreOECD: Comments on CbC Reporting Consultation
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
See MoreWTO: Discussion of Future Objectives
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.
See MoreTurkey: Revenue Administration issues decree on transfer pricing documentation
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
See MoreOECD: Economic Impact of Proposals on Taxation of the Digital Economy
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
See MoreOECD: Tax Report to the G20 Finance Ministers
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
See MoreOECD: Transfer Pricing Guidance on Financial Transactions
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
See MoreUkraine: Parliament approves draft law to implement BEPS provisions
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
See MoreUK notifies the WTO of withdrawal from the European Union
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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