OECD: Comment period extended on tax challenges of digitalisation
On 19 February 2019 the OECD announced that the consultation period in relation to the public consultation document on possible solutions to the tax challenges of digitalisation has been extended to 6 March 2019. The public consultation meeting on
See MoreUK: Support for Tax Capacity Building
On 19 February 2019 the UK’s Department for International Development (DFID) announced new assistance to give support to developing countries in generating greater tax revenue, tackling tax avoidance and creating a level playing field for
See MoreOECD: Consultation document on tax challenges to the digital economy
On 13 February 2019 the OECD’s Inclusive Framework published a consultation document on issues relating to the tax challenges of digitalisation of the economy. This follows the publication on 29 January 2019 of a Policy Note and the agreement of
See MorePortugal legislates the Budget Law for 2019
On December 31, 2018, Portugal published 2019 budget law (No.71/2018) in the official gazette and generally applies as from 1 January 2019. The budget law includes changes to income tax law and other taxes. The budget law include the following
See MoreOECD: Tax Talk Summarises Latest Tax Developments
An OECD Tax Talk held on 29 January 2019 summarised the latest tax developments. Tax and Digitalisation A Policy Note agreed by the Inclusive Framework was issued in January 2019. A public consultation document is to be released in February 2019
See MoreOECD announces progress made in addressing harmful tax practices
On 29 January 2019 the OECD released a publication entitled “Harmful Tax Practices – 2018 Progress Report on Preferential Regimes”. This contains results to show that jurisdictions are pursuing their commitment to the standard on harmful tax
See MoreOECD: Inclusive Framework issues policy note on digital economy
The Inclusive Framework on base erosion and profit shifting (BEPS) has issued a new Policy Note under action 1 of the action plan on base erosion and profit shifting (BEPS) entitled Addressing the Tax Challenges of the Digitalisation of the Economy.
See MoreEuropean Commission to launch proceedings against UK over VAT treatment of commodity traders
It is reported that the European Commission is planning to take a case to the European Court of Justice (ECJ) in relation to the value added tax (VAT) treatment of commodity traders in the UK. The European Commission argues that although the UK may
See MoreEU: Report by European Commission on investor residence schemes
On 23 January 2019 the European Commission issued a report on citizenship by investment and citizenship by residence schemes operated by a number of EU Member States. The report looks at current practices and identifies some of the risks from such
See MoreSingapore deposits ratification instrument for MLI
On 21 December 2018, Singapore deposited its instrument of ratification of the Multilateral Agreement for the Implementation of Measures relating to the Prevention of Erosion and Profit Shifting (MLI). As of 21 December 2018, a total of 18 countries
See MoreEuropean Commission opens in-depth investigation into Netherlands tax rulings
On 10 January 2019 the European Commission announced that it has opened an in-depth investigation into tax rulings granted by the Netherlands to companies in the Nike group. The rulings may have given the companies an unfair competitive advantage
See MoreOECD to launch Corporate Tax Statistics
The OECD announced on 11 January 2019 that a new report and dataset entitled Corporate Tax Statistics is to be published containing internationally comparable statistics and analysis relevant to the debate on tax policy. These statistics that will
See MoreUK: HMRC launches Profit Diversion Compliance Facility
On 10 January 2019 HMRC launched the Profit Diversion Compliance Facility targeting multinational companies using arrangements that may result in a liability to the diverted profits tax (DPT). These arrangements generally involve the reduction of
See MoreUK: Double tax treaty with Isle of Man enters into force
The double tax treaty between the UK and the Isle of Man entered into force on 19 December 2018. The treaty replaces the 1955 Arrangement between the UK and the Isle of Man for the avoidance of double taxation which ceases to have effect from the
See MoreOECD: Peer reviews on BEPS Action 5 minimum standard
On 13 December 2018 the OECD published the 2017 Peer Review Reports on the Exchange of Information on Tax Rulings. The peer reviews were conducted as part of the follow-up work and monitoring of developments in line with the recommendations of the
See MoreOECD: Inclusive Framework report on preferential tax regimes
On 15 November 2018 the OECD published a progress report in relation to the work by the Inclusive framework on base erosion and profit shifting (BEPS) on assessing preferential tax regimes. The Inclusive Framework is implementing the monitoring
See MoreUK: Consultation on the Corporate Capital Loss Restriction
On 29 October 2018 the government published a consultation document in relation to a restriction on the offset of corporate capital losses. The government is inviting comments from companies likely to be affected by the capital loss restriction and
See MoreOECD: Guidance on synthesised texts clarifying the impact of the MLI
The OECD announced on 16 November 2018 that new guidance is available for the development of synthesised texts presenting a clear overview of the modifications by countries to their bilateral double tax treaties as a result of applying the
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