Colombia issues resolution on international tax information exchange
Colombia's tax authority (DIAN) has released Resolution No. 000096 on 31 May, 2024, providing an update on the exchange of tax information with international jurisdictions. This resolution is key in assessing the cooperation of various nations in
See More
Greece announces 2024 CbC report exchange partners
On 30 May 2024, the Greek Public Revenue Authority (AADE) has released Circular A.1083, dated 21 May 2024, outlining the jurisdictions that will exchange Country-by-Country (CbC) reports with Greece in 2024 for the 2022 fiscal year under the
See More
Dominican Republic extends CbC reporting deadline to 30 August 2024
The Dominican Republic's General Directorate of Internal Revenue (DGII) issued Notice No. 10-24, on 31 May, 2024, extending the deadline for Country-by-Country (CbC) reporting for multinational enterprises (MNEs) as part of Action 13 of the Base
See More
Serbia releases 2024 arm’s length interest rates rulebook
Serbia’s Ministry of Finance has issued the rulebook on arm’s length interest rates for 2024. It was published in the official gazette on 31 May, 2024, and will take effect on 8 June, 2024. The rulebook sets distinct interest rates for
See More
Australia introduces public country-by-country (CbC) reporting bill
On 5 June 2024, the Australian government presented new legislation in the parliament titled Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024. The bill includes public country-by-country (CbC) reporting, among
See More
EU issues notices to member states for non-compliance with DAC7
The European Commission (EC) has decided to open an infringement procedure by sending a letter of formal notice to Germany , Hungary , Poland , and Romania for failing to exchange information on income generated by companies and individuals through
See More
UK revises arbitration rules under BEPS MLI
The OECD has released documents related to information on the United Kingdom’s arbitration position under Part VI of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Part VI
See More
US, Bulgaria sign CbC exchange agreement
Bulgaria's Ministry of Finance signed a country-by-country (CbC) exchange agreement with the US on 30 May, 2024. The automatic exchange of CbC reports will enhance international tax transparency and aid tax administrations in targeting resources
See More
Spain completes BEPS MLI procedures for tax treaty with Armenia
Spain, in an updated OECD notification published on 31 May, 2024, announced that it confirmed completing procedures for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) with
See More
Taiwan calls for improved compliance with CRS standard
The Ministry of Finance has issued a critical directive to all Financial Institutions (FIs), emphasising the need for strict adherence to the "Measures for Financial Institutions to Implement Joint Reporting and Due Diligence Operations" on 24 May,
See More
Australia publishes synthesised text of tax treaty with China regarding BEPS MLI
The Australian Taxation Office (ATO) has released the synthesised text of the tax treaty with China, providing clarifications regarding the impact of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and
See More
Singapore updates tax guide for variable capital companies with new GST and deduction rules
The Inland Revenue Authority of Singapore (IRAS) published an e-tax guide (Second Edition) detailing the tax framework for variable capital companies (VCCs), a corporate structure designed for investment funds, on 31 May, 2024. The Second Edition
See More
Italy announces decree on Pillar Two transitional safe harbour rules
Italy’s Ministry of Finance announced the ‘TSH decree’, which was published in the official gazette on 28 May, 2024. This decree implements the Pillar Two transitional safe harbour (TSH) rules, as stipulated in Article 39 of Legislative
See More
OECD updates guidance on implementation of CbC reporting of dividends
The Organisation for Economic Cooperation and Development (OECD) has released an updated version of its Guidance on the Implementation of Country-by-Country Reporting: BEPS Action 13. It refines the treatment of dividends in accordance with the
See More
Bulgaria signs AEOI agreement with USA
The Bulgarian Ministry of Finance announced, on 30 May 2024, the signing of an agreement with the United States for the automatic exchange of information (AEOI). Lyudmila Petkova, Deputy Prime Minister and Minister of Finance, Bulgaria, alongside
See More
Azerbaijan approves BEPS MLI agreement
The Azerbaijan parliament ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). On 17 March 2023, the Ministry of Taxes of Azerbaijan released a statement regarding the implementation of obligations
See More
Malaysia publishes synthesised text of tax treaty with Luxembourg under BEPS MLI
The Inland Revenue Board of Malaysia (IRBM) has released the synthesised text of the tax treaty with Luxembourg, providing clarifications regarding the impact of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base
See More
Poland passes new regulations regarding exchange of information on income derived by sellers through digital platforms
Poland’s Parliament has passed the Act of 23 May 2024 amending the Act on the exchange of tax information with other countries and certain other acts. The Act implements new regulations on the exchange of information on income derived by
See More