South Africa: Parliament tables 2021 Tax Bills

22 November, 2021

On 11 November 2021, Tax Bills 2021 (Taxation Laws Amendment Bill (TLAB), Tax Administration Laws Amendment Bill (TALAB), Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates Bill)) were tabled in the Parliament. The National

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UN: Tax Committee Discusses Transfer Pricing Issues

24 October, 2021

In its virtual meetings from 19 to 27 October 2021 the UN Tax Committee is considering aspects of transfer pricing. Among topics that could be pursued further are practical risk assessment tools, transfer pricing aspects of marketing or trading

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UN: Committee of Tax Experts Discuss Model Treaty Provisions

22 October, 2021

The virtual meetings of the UN Committee of Experts on Tax Matters taking place from 19 to 28 October 2021 are considering issues arising from the UN Model Tax Convention that should be the subject of future discussion within the UN

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UN: Meetings of the Committee of Tax Experts

19 October, 2021

The UN Committee of Experts on International Cooperation in Tax Matters is holding its 23rd session as a series of virtual meetings between 19 and 28 October 2021. The issues to be covered include the following: Tax and the Sustainable

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OECD: Tax Policy and Climate Change

17 October, 2021

A report on Tax Policy and Climate Change, produced by the IMF and the OECD, was included as an attachment to the OECD report for the meeting of G20 Finance Ministers on 13 October 2021. Carbon taxes and emissions trading systems result in

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OECD: Report on Developing Countries and the Inclusive Framework

16 October, 2021

For the meeting of G20 Finance Ministers on 13 October 2021 the OECD prepared a separate report entitled Developing Countries and the OECD/G20 Inclusive Framework on BEPS and included this as an attachment to the main report to the meeting. The

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OECD: Report to G20 Finance Ministers Meeting

15 October, 2021

The OECD has published its report prepared for the meeting of G20 Finance Ministers on 13 October 2021. Two Pillar Solution on Tax Challenges of the Digital Economy The report notes that the two-pillar approach to digital economy taxation

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Austria releases the new transfer pricing guideline for 2021

11 October, 2021

On 7 October 2021, the Austrian Ministry of Finance published the updated Austrian Transfer Pricing Guidelines (Austrian Guidelines) 2021. The Austrian Guidelines 2021 are an essential interpretative aid for the application of the arm’s-length

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OECD: Inclusive Framework Signs Agreement on Two Pillar Solution

08 October, 2021

On 8 October 2021 a total of 136 member countries of the OECD/G20 Inclusive Framework on BEPS joined the Statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. The Statement finalised

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IMF: Tax and Digitalisation in Asia

19 September, 2021

On 14 September 2021 the IMF held a digital seminar on Tax and Digitalisation in Asia, coinciding with the launch of an IMF paper on the same subject (Departmental Paper No 2021/017). Currently the most highly digitalised companies often escape

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OECD: Podcast on the Global Digital Tax Agreement

10 September, 2021

On 9 September 2021 the OECD made available a podcast on the global digital tax agreement. The international tax system has become outdated during the past 30 to 40 years owing to the effects of globalisation. Multinational enterprises are more

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South Africa: National Treasury invites comments on draft Tax Bills by 28 August

25 August, 2021

On 12 August 2021, the National Treasury and the South African Revenue Service (SARS) published a media statement the second batch of the 2021 Draft Taxation Laws Amendment Bill and 2021 Draft Tax Administration Laws Amendment Bill (TALAB) for

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EU: Commission Letter Comments on Common Corporate Tax

22 August, 2021

On 3 August 2021 a letter addressed to the European Parliament on behalf of the European Commission confirmed that the single corporate tax system for the EU, to be known as Business in Europe: Framework for Income Taxation (BEFIT), would take into

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OECD: Update on reviews of preferential tax regimes

21 August, 2021

On 05 August 2021 the OECD’s Inclusive Framework issued an update on progress made in combatting harmful tax practices. The updated included the results of reviews of preferential tax regimes that have now been approved by the Inclusive

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Singapore releases updated Transfer Pricing Guidelines

20 August, 2021

On 10 August 2021, the Inland Revenue Authority of Singapore published the sixth edition of its E-Tax Guide on Transfer Pricing. The most important changes are summarized as follows: Additional guidance on cost contribution arrangements (CCAs)

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OECD: Updates to Transfer Pricing Country Profiles

06 August, 2021

On 3 August 2021 the OECD issued an updated version of some of its transfer pricing country profiles, These include new country profiles for Angola, Romania and Tunisia, and updated profiles for seventeen other countries. The updated profiles have

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South Africa: Call for comments regarding 2021 draft Tax Bills

06 August, 2021

On 28 July 2021, the National Treasury and the South African Revenue Service (SARS) have invited the public to comment by no later than 28 August 2021 on the second batch of the 2021 Draft Taxation Laws Amendment Bill and 2021 Draft Tax

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OECD: Stage two peer review report on Chile’s compliance with BEPS action 14

04 August, 2021

On 26 July 2021 the OECD published the stage two peer review report on Chile’s compliance with the minimum standard under action 14 of the action plan on base erosion and profit shifting (BEPS). BEPS Action 14 is concerned with making dispute

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