India: CBDT signs first APA renewal
On 31 October 2018, the Central Board of Direct Taxes (CBDT) has signed a unilateral advance pricing agreement (APA) renewal. Accordingly, India reached another milestone as the first ever renewal of a unilateral APA. This renewal establishes
See MoreUK: Budget Proposals for 2018
The UK budget proposals for 2019/20 were announced on 29 October 2018. Proposed measures include the following: Digital services tax The digital services tax will apply to large tech companies with global revenues of more than GBP 500 million per
See MoreUK: Digital services tax to be introduced
The UK Budget announcements on 29 October 2018 included a proposed new tax on large digital services companies such as search engines, social media platforms and online marketplaces. The tax would take effect from 1 April 2020. The digital services
See MoreBrazil: Tax Authority proposes Ordinance for corporate taxpayer classification
In accordance with the compliance efforts of Organization for Economic Co-operation and Development (OECD), tax authorities proposed an Ordinance regarding corporate taxpayer classification. The tax authorities need to analyze the capability of the
See MoreIMF working paper examines effects of tax treaties with investment hubs
An IMF working paper was released on 24 October 2018 entitled The Cost and Benefits of Tax Treaties with Investment Hubs: Findings from Sub-Saharan Africa. (Working Paper 18/227). Double tax treaties can affect returns to foreign investment through
See MoreWorld Bank: Report on the changing nature of work
On 12 October 2018 the World Bank issued World Development Report 2019: The Changing Nature of Work. The report notes that technology is creating jobs, increasing productivity and delivering effective public services and suggests that public fears
See MoreArgentina: AFIP publishes information regarding CbC reporting
On October 24, 2018, the tax authority (AFIP) published information regarding Country-by-Country (CbC) reporting in their website. Two information regimes are implemented in order to combat tax evasion and avoidance and the transfer of benefits to
See MoreOECD and World Bank call for streamlined approach to combating tax evasion and corruption
On 22 October 2018 the OECD and the World Bank produced a joint report on Improving Cooperation between Tax Authorities and Anti-Corruption Authorities in Combating Tax Crime and Corruption. The joint report was launched at the eighteenth
See MoreEU: Investment protection agreement with Vietnam
On 17 October 2018 the European Commission adopted an investment protection agreement with Vietnam, at the same time as a free trade agreement. This paves the way for the final signature and conclusion of the investment protection agreement. Under
See MoreEU: Free trade agreement with Vietnam
On 17 October 2018 the European Commission adopted the free trade agreement (FTA) between the EU and Vietnam. The FTA has been presented for signature to the European Council. A factsheet on the FTA with Vietnam has also been issued and sets out the
See MoreIMF: Communiqué of IMFC meeting comments on trade and tax
On 12 October 2018 a communiqué was released following a meeting of the IMF’s International Monetary and Financial Committee (IMFC) in Indonesia. The communiqué notes that global expansion remains strong and is projected to be steady in the
See MoreUN: Committee of Experts Discusses International Tax Issues
The seventeenth session of the UN Committee of Experts on International Cooperation in Tax Matters took place in Geneva from 16 to 19 October 2018. Discussions at the seventeenth session considered issues for the next updates of UN publications on
See MoreIsrael deposits its MLI Ratification Instrument
The Organization for Economic Co-operation and Development (OECD) announced on September 13, 2018 that Israel deposited its instrument of ratification to implement the Multilateral Convention to Implement Tax Treaty Related Measures for preventing
See MoreOECD: Tax Talk discusses progress on key tax issues
An OECD Tax Talk on 16 October 2018 discussed the latest developments on tax issues. Tax Challenges of Digitalisation In March 2018 the Task Force on the Digital Economy (TFDE) sent an interim report to the G20 on the tax challenges of
See MoreOECD: CRS avoidance through residence and citizenship by investment schemes
On 16 October 2018 the OECD has published the results of its analysis of over 100 schemes for citizenship by investment and residence by investment (CBI/RBI) offered by jurisdictions that are committed to the common reporting standard (CRS). These
See MoreOECD: Policy Note on Tax and Digitalisation
On 19 October 2018 the OECD issued a policy note on tax and digitalization. The policy note looks at the challenges to tax systems arising from the digital economy and the opportunities and risks presented. A review of the international tax rules to
See MoreOECD and IGF release practice notes on BEPS risks in mining
On 19 October 2018 the OECD announced that a first set of practice notes for developing countries on BEPS risks in the mining sector have been finalized. The practice notes have been developed by the OECD’s Centre for Tax Policy and
See MoreMLI enters into force in respect of Sweden
On 1 October 2018, the Multilateral Convention (2016) (MLI) entered into force in respect of Sweden. Sweden signed the convention on 7 June 2017 and deposited its final MLI position on 22 June 2018, including the 64 tax treaties that it wishes
See More