Turkey updates CbC reporting notification deadline
Turkey Revenue Administration introduced amendments to the country's transfer pricing regulations which revises the deadlines and authority responsible for overseeing transfer pricing compliance, particularly for Country-by-Country (CbC) reporting,
See More
OECD: Report on Simplified Peer Review of Egypt under BEPS Action 14
On 16 September 2024 the OECD published the simplified peer review report on Egypt under Action 14 of the project on base erosion and profit shifting (BEPS). The report sets out the results of Stage 1 of the simplified peer review of the
See More
OECD: Report on Simplified Peer Review of Nigeria under BEPS Action 14
On 16 September 2024 the OECD published the simplified peer review report on Nigeria under Action 14 of the project on base erosion and profit shifting (BEPS). The report sets out the results of Stage 1 of the simplified peer review of the
See More
Albania implements country-by-country reporting legislation
Albania enacted regulations on 11 August 2024, concerning country-by-country (CbC) reporting, outlining specific rules and procedures that ultimate parent entities and constituent entities of a multinational enterprise (MNE) group must follow
See More
Poland updates transfer pricing reporting FAQs
Poland’s Ministry of Finance released the fifth edition of the transfer pricing reporting Q&A (TPR Guide 2023) on 4 September 2024, offering an updated collection of answers to frequently asked questions about transfer pricing reporting
See More
UK releases new transfer pricing compliance guidelines
The UK’s tax authority, HM Revenue & Customs (HMRC), published new transfer pricing compliance guidelines, Guidelines for Compliance—Help with common risks in transfer pricing approaches—GfC7’ (Guidelines for Compliance), on 10 September
See More
Ukraine: MCAA CbCR agreement comes into force
The Ukrainian Ministry of Finance issued a reminder about the commencement of the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country Reports (CbCR) on 2 September 2024. Ministry of Finance of Ukraine reminds
See More
New Zealand issues Commissioner’s Statement on withholding in transfer pricing
The New Zealand tax authority released the Commissioner's statement (CS) 24/02: Withholding obligations arising in relation to transfer pricing arrangements on 30 August 2024. CS 24/02 details the Commissioner's stance and operational strategy
See More
Brazil consults transfer pricing rules for intragroup services, unilateral APAs
Brazil's Federal Revenue Service (RFB) announced a public consultation on draft guidelines for transfer pricing regulations for intragroup services and unilateral advance pricing agreements under Brazil's new transfer pricing regime on 29 August
See More
US seeks USMCA dispute settlement talks over Canada’s digital services tax
The US Trade Representative Katherine Tai announced that the US has requested dispute settlement consultations with Canada under the United States-Mexico-Canada Agreement (USMCA) regarding Canada’s recently enacted digital service tax (DST) on 30
See More
Macau authorises AEOI signing with Hong Kong
Macau authorised the signing of an agreement with Hong Kong for the automatic exchange of tax information on financial accounts (AEOI). The order – Chief Executive Order No. 45/2024 – in the Official Gazette on Monday, 26 August 2024. The
See More
Italy: Country File of transfer pricing documentation must be submitted in Italian
The Italian Revenue Agency issued its response to Ruling No. 174 on 21 August 2024, clarifying that the Italian the Country File (National Documentation) must be prepared and submitted in Italian language upon request. The Country File (National
See More
Singapore updates CbC reporting jurisdictions, adds Ukraine
The Inland Revenue Authority of Singapore (IRAS) has revised the list of jurisdictions for exchanging Country-by-Country (CbC) reports under the Multilateral Competent Authority Agreement on Automatic Exchange of Country-by-Country Reports (2016)
See More
EU Commission consults CbCR template, electronic formats
The European Commission (EC) initiated a public consultation regarding draft legislation for a common template and electronic formats for public country-by-country (CbC) reports on 1 August 2024. Large multinational corporations operating in the
See More
UK launches consultation on safe harbour anti-arbitrage rule transition to domestic law
The UK Treasury released draft legislation for consultation on implementing the transitional safe harbour anti-arbitrage rule. This initiative ensures the rule aligns with the OECD's G20 Inclusive Framework's December 2023 Administrative
See More
Germany revises transfer pricing guidelines for intra-group financing
Germany’s Federal Ministry of Finance (BMF) has issued a draft version of the Administrative Principles for Transfer Pricing 2023 (VWG VP), on 14 August 2024. This revision incorporates the new regulations found in Section 1, Paragraphs 3d and 3e
See More
US: IRS consults updated draft form for reporting digital asset transactions
The US Internal Revenue Service released IR 2024-204 on 9 August 2024, which contains an early draft of the updated Form 1099-DA. This form is for brokers to report certain sale and exchange transactions of digital assets that take place beginning
See More
US: Kansas updates transition rules after separating from federal interest deductions
The Kansas Department of Revenue published Notice 24-16, on 7 August 2024, providing guidance on business interest deductions for tax years 2021 and beyond. For tax years 2018, 2019, and 2020, Kansas was coupled with the federal code and only
See More