OECD: Tax Report to G20 Finance Ministers
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
See MoreZambia presents the budget for 2020
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
See MoreDenmark deposits ratification instrument for MLI
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
See MoreLuxembourg: EU General Court upholds EC Commission’s decision in Fiat case
On 24 September 2019, the EU General Court upheld the Commission’s decision that Fiat received unlawful State aid from Luxembourg, and at the same time cancelled the decision which had found the same with respect to Starbucks in the
See MoreUkraine submits draft law on amendments to the Tax Code to Parliament
On 30 August 2019, the Ukraine has submitted draft law no. 1210 to the Parliament amending the Tax Code on improving tax administration, removing technical and logical mismatches in the tax legislation. The three main areas of the draft law
See MoreDominican Republic: Public Finance Ministry presents annual budget policy 2020
On 10 September 2019, the Ministry of Public Finance presented an annual budgetary proposal for the year 2020 and sent it to the Executive Branch to take it into account for the annual budget. It covers financial activities, excise duty on alcohol
See MoreOECD: Stage 2 peer reviews of CbC reporting
On 3 September 2019 the OECD has now issued the report on the stage two peer reviews looking at the implementation of CbC reporting requirements. A total of 116 jurisdictions are covered by the report. Action 13 of the OECD action plan on base
See MoreEcuador: NA Approves Mutual Assistance Agreement on Tax matters
On 7 August 2019, Ecuador's National Assembly approved the bill for the ratification of the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 protocol. Its objective is to facilitate
See MoreOECD: Namibia joins the Inclusive Framework on BEPS
On 9 August 2019, Namibia has joined the OECD base erosion and profit shifting (BEPS) inclusive framework. Accordingly, all OECD state and non-state jurisdictions that commit to the BEPS project will participate as BEPS associates of the OECD's
See MoreNorway deposits ratification instrument for MLI
On 17 July 2019, Norway deposited its instrument of ratification for the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). The MLI will enter into force on 1 November 2019 for
See MoreOECD: Input requested for dispute resolution peer reviews
On 15 July 2019 the OECD invited interested parties to submit input in relation to issues around access to the mutual agreement procedure; availability of clear MAP guidance; and timely implementation of the outcomes of the MAP, in a number of
See MoreLuxembourg: MLI enters into force
On 1 August 2019, the multilateral convention to implement tax treaty related measures to prevent Base Erosion and Profit Shifting (Multilateral Instrument or MLI) entered into force in respect of Luxembourg. MLI provisions that affect withholding
See MoreOECD: Bosnia and Herzegovina joins the inclusive framework on BEPS
On 10 July 2019 the OECD announced that Bosnia and Herzegovina has joined the Inclusive Framework on base erosion and profit shifting (BEPS). This means that a total of 131 countries and jurisdictions are taking part in the Inclusive Framework.
See MoreWorld Bank approves grant to improve domestic revenue mobilization in Liberia
On 16 July 2019 the World Bank approved a grant to its International Development Association (IDA) to improve domestic revenue mobilization systems and strengthen financial control and accountability in public finances. The IDA provides grants and
See MoreSaudi Arabia: GAZT holds seminar to simplify the transfer pricing regulations
On 17 June 2019, the General Authority of Zakat and Tax (GAZT) of Saudi Arabia has organized a transfer pricing seminar in Riyadh to simplify the key areas of the transfer pricing (TP) regulations published on 15 February 2019 and to address
See MoreArgentina: Tax ruling on BEPS Action 5 minimum standard
On 30 May 2019, the Argentine tax authority published General Resolution No. 4497 (GR 4497/2019) in the official gazette amending the binding ruling (as established by Article 4 of Law No. 11,683) regulations, which adapts the Argentine tax
See MoreG20 Finance Ministers issue final communique
The communique issued following the meeting of G20 Finance Ministers and Central Bank governors on 8 and 9 June 2019 covered a number of financial issues of international concern including international tax developments. The Finance Ministers noted
See MoreOECD: Report to the G20 Finance Ministers on International Tax
On 10 June 2019 the OECD published its report on international tax to the G20 Finance Ministers and Central Bank Governors. The report set out progress made on international tax issues. Taxation of the Digital Economy In January 2019 the
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