Bulgaria: Multilateral Competent Authority Agreement signs for exchange of CbC reports
Bulgaria has signed the Multilateral Competent Authority Agreement (MCAA) on November 17, 2017 for the exchange of country by country (CbC) reports under action 15 of the OECD’s BEPS
See MoreOECD: 2017 edition of the Model Tax Convention released
On 18 December 2017 the OECD released the 2017 edition of the Model Tax Convention. This edition incorporates measures outlined in the final reports from the action plan on base erosion and profit shifting. The new edition reflects work on BEPS
See MoreOECD: second round of peer reviews on tax dispute resolution mechanisms
On 15 December 2017 the OECD issued the second round of analyses of individual country measures on improving dispute resolution mechanisms. This second batch consists of seven peer review reports and represents more stage 1 evaluations of the
See MoreNew Zealand: A tax bill to counter tax avoidance introduces into Parliament
On 6 December 2017, a tax bill to counter tax avoidance has been introduced into New Zealand’s Parliament by multinational companies and Minister of Revenue also published its commentary on the bill. Most provisions would enter into effect July
See MoreAzerbaijan: VAT on Uber rides
Azerbaijan will apply a new VAT rate of 18% on Uber from 1 December 2017. The tax will be collected as a withholding tax on payments through bank
See MoreOECD: Peer reviews of exchange of information on tax rulings
On 4 December 2017 the OECD released the first analysis of progress by individual countries on the spontaneous exchange of information on tax rulings. This was one of the recommendations of the final report on action 5 of the project on base erosion
See MoreOECD: Further Guidance on CbC Reporting
On 30 November 2017 the Inclusive Framework released further guidance for tax administrations and multinationals in relation to the implementation of Country-by-Country (CbC) Reporting under Action 13 of the action plan on base erosion and profit
See MoreOECD: MAP Statistics for 2016
Action 14 of the action plan on base erosion and profit shifting (BEPS) was concerned with improving the effectiveness and timeliness of dispute resolution mechanisms. The minimum standard under action 14 requires jurisdictions to try to resolve
See MorePoland: MoF publishes a statement regarding exemption for dividends
The Polish Ministry of Finance (the MoF) released a statement that identified cases of abuse of tax exemption for dividends by making their payments using intermediaries on 3rd November 2017. As of 1 January 2016, the Polish dividend withholding tax
See MoreSingapore: OECD concludes tax incentives meet international BEPS standards
Singapore is an "associated" jurisdiction under the BEPS (Base Erosion and Profit Shifting) project. Singapore’s available tax incentives were reviewed by the Forum on Harmful Tax Practices and found to be “not harmful” under the peer review
See MoreBahrain: Cabinet approves draft law regarding excise tax
The Cabinet approved a draft-law on ratifying the Gulf Cooperation Council (GCC) unified selective excise tax on unhealthy drinks on 16th October 2017. The Cabinet has endorsed an excise tax bill that would impose a 100% tax on tobacco products,
See MoreCanada: Federal Govt. announces cannabis tax plan
The federal government proposed a new excise duty framework that imposes duties on cannabis products on November 10, 2017. A Bill C-45 (referred to as the “Cannabis Act”), “an Act respecting cannabis and to amend the Controlled Drugs and
See MoreThailand: OECD concludes Thai incentives as harmful tax practices
The Thai government upon joining the base erosion and profit shifting (BEPS) inclusive framework, agreed to implement certain minimum standards under Action 5 (harmful tax practices). Part of the minimum standard under Action 5 relates preferential
See MoreEU follows OECD with digital tax consultation
On 26 October 2017, the European Commission published a public consultation on digital taxation. This follows on from the Commission’s September Communication setting out its vision for the need to address digital taxation and some possible
See MoreUK offshore finance companies possibly illegal under EU law
The European Commission announced on 26 October that it has initiated proceedings against the UK on the grounds that its CFC rules may infringe EU State Aid law. The Commission’s challenge focuses on the fact that certain offshore group financing
See MoreEuropean Commission calls for more flexible rule making
In its work programme for 2018, published on 24 October 2017, the European Commission has expressed support for moving from unanimity to qualified majority voting by EU Member States on certain EU legislation, including tax legislation. The
See MoreEU takes action against Amazon and Apple in tax cases
The European Commission issued a statement on 4 October 2017 to the effect that it had ordered Amazon to repay EUR 250 million plus interest that it claims Amazon should have paid in taxes on European sales made by the group through its Luxembourg
See MoreOman joins the inclusive framework on BEPS
On 20 October 2017, the Sultanate of Oman has become the 103rd jurisdiction to join the inclusive framework on Base Erosion and Profit Shifting (BEPS). Members of the inclusive framework have the opportunity to work together with other OECD and G20
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