Russia: Tax Dispute Resolution Peer Review
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
See MoreChina: Tax dispute resolution peer review report
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
See MoreOECD: Revenue Statistics 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
See MoreOECD: Global Forum 10th Anniversary Plenary Meeting
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
See MoreUkraine: MLI enters into force
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
See MoreOECD: The effect of exchange of information on bank deposits in IFCs
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
See MoreOman signs MLI to implement tax treaty related BEPS measures
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
See MoreSaudi Arabia Cabinet ratifies BEPS Multilateral Instrument (MLI)
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.
See MoreNorway: BEPS multilateral instrument (MLI) enters into force
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
See MoreNew Zealand: Inland Revenue updates its compliance focus on MNEs
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
See MoreBosnia and Herzegovina signs MLI to implement tax treaty related BEPS measures
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
See MoreEstonia: Parliament considers bill to ratify BEPS Multilateral Instrument (MLI)
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
See MoreNew Zealand: Inland Revenue clarifies about BEPS disclosure requirement
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.
See MoreCyprus plans to implement EU Directive on mandatory disclosure rules by the end 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
See MoreItaly publishes Law 117 to implement EU Directives
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
See MoreBulgaria: Draft bill on cross-border arrangements submits for public comment
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
See MoreRussia proposes Tax Policy for 2020 to 2022
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
See MoreBelgium approves draft law to transpose EU directive on cross-border arrangements
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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