Norway 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
See MoreSingapore: IRS Publishes TP guidelines for commodity marketing and trading activities
On 24 May 2019, the Inland Revenue Service of Singapore (IRS) has published a new transfer pricing (TP) E-Tax guide aimed at helping taxpayers compute the economic value of commodity marketing and trading activities conducted by related parties.
See MoreOECD: Forum on Tax Administration meeting discusses work plans
From 26 to 28 March 2019 the twelfth plenary meeting of the OECD Forum on Tax Administration (FTA) took place with delegates including senior tax officials, business representatives and international organisations. The main themes discussed were
See MoreIMF: Corporate taxation in the global economy
On 10 March 2019 the IMF reported that the Executive Board have been discussing a policy paper on Corporate Taxation in The Global Economy , looking at the way forward in the international tax system. Problems arise from the allocation of risk
See MoreZambia publishes Budget for 2019
On 1 January 2019, The Zambian government published budget for 2019 to the National Assembly. Key modifications of tax rules are summarized as follows: Limit the deductibility of interest on debts owed by a taxpayer to 30 % of the
See MoreRussia: Parliament proposes to reduce the corporate property tax rate
On 6 March 2019, a draft bill was presented to the State Duma (Lower House of Parliament) proposing to lower the maximum amount of the property tax rate to be taxed at the cadastral value. According to the bill, the corporation tax rate for real
See MoreOECD: Morocco joins the inclusive framework on BEPS
On 9 March 2019 the OECD announced that Morocco has joined the Inclusive Framework on base erosion and profit shifting (BEPS). This means that a total of 129 countries and jurisdictions are taking part in the Inclusive Framework. The countries
See MoreOECD: Consultation on Addressing Tax Challenges of the Digital Economy
On 13 and 14 March 2019 the OECD is to hold a public consultation on the tax challenges of the digitalisation of the economy. This is related to the work on action 1 of the G20/ OECD action plan on base erosion and profit shifting. The consultation
See MoreSouth Africa introduces Budget 2019 in parliament
On 20 February 2019, Tito Mboweni (South Africa’s Minister of Finance) presented the Budget 2019 in the parliament. The budget proposal would not increase taxes in any category but proposed to increase tax collection by not adjusting for inflation
See MoreOECD: Taxpayer input required for eighth batch of dispute resolution peer reviews
The OECD announced on19 February 2019 that it is currently collecting taxpayer input in preparation for the eight batch of stage 1 peer reviews in relation to improving the tax treaty dispute resolution process under Action 14 of the project on base
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