Switzerland publishes transfer pricing guidelines
On 23 January 2024, the Swiss Federal Tax Administration published the updated Transfer Pricing Guide. The main provisions of the guide include: An overview of the arm's length principle and the consequences of non-compliance under Swiss law.
See More
Belarus modifies transfer pricing rules
On 27 December 2023, Belarus announced that it had made amendments to its transfer pricing rules. The new transfer pricing provisions are outlined in Law No. 327-Z of 27 December 2023, which went into effect on 1 January 2024. The new regulations
See More
Russia: FTS updates list of jurisdictions that do not exchange proper information for CFC purpose
On 10 January 2024, the Russian Federal Tax Service (FTS) published updated list of jurisdictions that do not exchange tax information with Russia (Decree No. ЕD-7-17/914). The list pertains to the tax exemption for profits of controlled foreign
See More
Norway enacts global minimum tax pillar 2 and amends tax administration act and tax payment act
On 12 January 2024, Normay announced the Supplementary Tax Act in the Official Gazette, which provides the provisions for implementing the Pillar 2 global minimum tax. This includes the introduction of the Pillar 2 income inclusion rule (IIR) to
See More
Ukraine introduces CbC reports filing for the first time
On 11 January 2024, the State Tax Service of Ukraine, in a release announced it has introduced Country-by-Country (CbC) reporting for the parent companies of the international groups of companies for the first time in the country. The CbC reporting
See More
Albanian official Gazette publishes revised AEOI jurisdictions list
On 5 January 2024, Albania's Official Gazette announced Decision No. 817, a major update to its automatic exchange of financial account information (AEOI) program. This decision revamps the lists of participating and reportable jurisdictions,
See More
Ukraine approves 2024-2030 national revenue strategy with tax reforms
On 27 December 2023, the Ukrainian government approved the National Revenue Strategy 2024-2030. The strategy includes several tax reforms, among other things. The key points of the strategy are as follows: 1. Reform the simplified taxation
See More
Belarus releases guide on tax changes for 2024
On 27 December 2023, the Belarus Ministry of Taxes and Duties published a guidance concerning various tax changes for 2024. The tax changes were introduced through Law No. 327-Z of 27 December 2023 as published in the Official Gazette. The main
See More
Armenia: Central bank lowers refinancing interest rate
On 12 December 2023, the Armenian Central Bank announced that it lowered the refinancing interest rate from 9.5% to 9.25%. This is the fifth interest rate reduction for 2023. The previously reduced refinancing interest rates are as follows:
See More
Ukraine provides clarification on windfall tax for banks
On 23 December 2023, the State Tax Service of Ukraine released Newsletter No. 6/2023, which provides clarification on the implementation of the windfall tax on banks per Law 3474-IX. This legislation introduced a tax rate of 50% on bank profits for
See More
Iceland announces CbC notification deadline for 2023
On 19 December 2023, Iceland published Notice 1525/2023 in the Official Gazette. The notice stipulates that the CbC report notification for the 2023 fiscal year must be submitted within one month from the year's end (by 31 January 2024, for the
See More
Russia: CBR increases the interest rates to 16%
On 15 December 2023, the Russian Central Bank (CBR) announced the decision to increase the key rate from 15% to 16% in an effort to combat rapidly rising inflation. The Central Bank of Russia utilizes its key interest rate to determine interest
See More
Russia announces transfer pricing changes from 2024
On 27 November 2023, Russia issued Law No. 539-FZ in the Official Gazette, which outlines several amendments to the country’s transfer pricing regime. A summary of several key changes is outlined below: Secondary adjustments treated as
See MoreWorld Health Organisation: Launch of Technical Manual on Alcohol Tax Policy and Administration
On 5 December 2023 a webinar was held to launch the WHO technical manual on alcohol tax policy and administration. See: WHO technical manual on alcohol tax policy and administration . Rudiger Krech, the director of health promotion at the WHO,
See More
UK: HMRC publishes guidance on transfer pricing records for PEs
The United Kingdom (UK) HRMC has issued guidance on the transfer pricing records requirements for permanent establishments (PEs) in accordance with the amendments made by Finance (No. 2) Act 2023. The Local files and Master files requirements for
See More
Russia: FTS introduce a list of jurisdictions not exchanging CbC reports
The Russian Federal Tax Service (FTS) released a list of jurisdictions that have repeatedly failed to exchange Country-by-Country (CbC) reports electronically with Russia. In cases of systemic exchange failure, a constituent entity within Russia
See More
Russia: FTS updates non cooperative Jurisdictions list for CFC purpose
On 14 November 2023, the Federal Tax Service (FTS) is in the process of updating its list of jurisdictions that do not meet Russia's standards for tax information exchange. The list of countries that do not cooperate with Russia on tax matters
See More
Russia: MOF publishes tax policy plans for 2024
On 2 November 2023, the Ministry of Finance in Russia released a statement regarding the tax policy proposals announced by State Secretary and Deputy Minister of Finance, Alexey Sazanov, during a recent event hosted by the B1 company. The statement
See More