Turkey approves effective date on CAA regarding CbC exchange arrangement with US
On 13 September 2022, the Turkish Revenue Administration issued Presidential Decision No. 6033 in the Official Gazette, through which Turkey has approved the effective date of the Competent Authority Agreement (CAA) to exchange country-by-country
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Ireland: Revenue updates guidance on exchange of information requirements
On 7 September 2022, the Irish Revenue published an eBrief No. 167/22 on revenue arrangements for implementing EU and OECD exchange of information requirements in respect of tax rulings. Accordingly, Tax and Duty Manual Part 35-00-01 (the guidance)
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South Africa: National Assembly approves BEPS MLI
On 31 August 2022, the South African National Assembly (NA) approved the Multilateral Convention to Implement Tax Treaty-related measures to prevent Base Erosion and Profit Shifting (MLI). The MLI will generally enter into force for a particular
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Singapore amends regulations on CbC reporting agreements
On 11 August 2022, the Ministry of Finance published an amended Regulation No. S 669 on Country-by-Country (CbC) Reporting Agreements in the Official Gazette. The Regulation includes the following changes: Certain companies are required to file
See MoreBulgaria Ratifies MLI Convention
On 17 June 2022, Bulgaria ratified the OECD Multilateral Convention (MLI) (2017) and published it in the Official Gazette (No. Decree No. 153). Bulgaria also submitted its provisional MLI position at the time of signature, listing its
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Russia updates the list of foreign states for automatic exchange of CbC reports
Recently, the Federal Tax Service of Russia published (Order No. ED-7-17/449) a new list of foreign states (territories), with which Russia will automatically exchange Country-by-Country (CbC) reports. Accordingly, the following states are
See MoreGreece publishes lists of Jurisdictions for Automatic Exchange of Information on CbC reporting
Recently, the Ministry of Finance published a decision containing the list of jurisdictions to which it will apply the OECD Agreement on the Automatic Exchange of Information on Country-by-Country Reporting (CbC) (2016) in 2022 concerning the
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OECD: Model Manual on Exchange of Information Now Available in Four Languages
On 7 July 2022 the OECD noted on its website that the Model Manual on Exchange of Information is now available in four languages – English, French, Spanish and Portuguese. The current version of the Manual was issued on 16 September 2021 in the
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OECD: Tax Transparency in Africa 2022
On 14 June 2022, during the meeting of the Africa Initiative, the OECD published Tax Transparency in Africa 2022. The report looks at progress made in tax transparency and exchange of information to combat tax evasion and other illicit financial
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OECD: Report to G7 on Tax Cooperation for the 21st Century
On 20 May 2022 the OECD published a report on Tax Cooperation for the 21st Century. The German G7 Presidency requested the report from the OECD to examine further moves to strengthen international tax co-operation and make recommendations for
See MoreGreece: AADE issues a Circular regarding MCAA for the year 2020
On 18 April 2022, the Greek Public Revenue Authority (AADE) published Circular A.1051 of 18 April 2022, which determines the lists of jurisdictions with which Greece wants implement the Multilateral Competent Authority Agreement on the exchange of
See MoreSingapore updates List of Jurisdictions participating under MCAA-CbC
On 29 March 2022, the Inland Revenue Authority updated the list of jurisdictions participating under the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports. Under the list: Azerbaijan, effective
See MoreOman publishes guidelines to clarify CbC reporting obligations
In March, the Tax Authority published guidance clarifying the country-by-country (CbC) reporting requirements of multinational corporations (MNEs) operating in Oman. The guide provides a general overview of the CbC reporting requirements as part of
See MoreOECD: Global Forum launches Asia Initiative
On 16 February 2022 the first meeting of the Asia Initiative was held by the Global Forum on Transparency and Information Exchange for Tax Purposes. Taking part in the meeting were senior officials from 18 Asian members of the Global Forum and
See MoreTurkey ratifies CAA regarding CbC exchange arrangement with US
On 14 February 2022, the Turkish Revenue Administration has issued Presidential Decision No. 5191 in the Official Gazette, through which Turkey ratifies the competent authority arrangement (CAA) on the exchange of country-by-country (CbC) with US.
See MoreOECD: 2022 Global Forum Capacity Building Report
On 3 February 2022 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published the 2022 Global Forum Capacity Building Report. Over the past decade the Global Forum has been involved in capacity building to
See MoreJamaica joins CRS Multilateral Competent Authority Agreement
On 31 January 2022, the Organization for Economic Co-operation and Development (OECD) published an update regarding signatories of the multilateral competent authority agreement (MCAA) on automatic exchange of financial account information and
See MoreCzech Republic: Finance Ministry updates list of jurisdictions exchanging CbC reports
On 20 January 2022, the Finance Ministry published Finance Bulletin No.3/2022, which updates the list of jurisdictions participating in the exchange of country-by-country (CbC) reports for the 2021 reporting
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