Armenia | Compliance with BEPS standards: On 14 September 2022, the Armenian Parliament (National Assembly) approved draft Bill No. K-294 for ratifying the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). See the story in Regfollower |
Belgium | Local file-Deadlines: Belgian tax authority has declared the deadline for filing Local file forms (275LF) is 17 October 2022. The submission of a Local file is required for Belgian companies and permanent establishments (PEs) that meet specific thresholds. See the story in Regfollower |
China | Compliance with BEPS standards: On 1 September 2022, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for China. See the story in Regfollower |
Greece | Corresponding adjustment: On 23 September 2022, Greece published Law No. 4972/2022 in the Official Gazette containing various tax measures including transfer pricing. The law amends an existing provision on transfer pricing adjustments upwards to provide for corresponding downward adjustments. See the story in Regfollower |
Hong Kong | Compliance with BEPS standards: On 16 September 2022, OECD has published the update list of signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for Hong Kong on 1 September 2022. See the story in Regfollower |
Ireland | Scope of transfer pricing rules: On 7 September 2022, the Irish Revenue published an eBrief No. 166/22 on the attribution of profits to a branch. The AOA seeks to attribute to a permanent establishment (PE) and, in an Irish context, to a branch, the profits that it would have earned at arm’s length if it were a legally distinct and separate enterprise performing the same or similar functions under the same or similar conditions. See the story in Regfollower Scope of transfer pricing rules: On 26 September 2022, the Irish Revenue published an eBrief No. 175/22 on Guide to Exchange of Information. Accordingly, Ireland’s double taxation agreements and tax Information exchange agreements and the OECD/Council of Europe Convention on Mutual Administrative Assistance in tax matters has been updated. See the story in Regfollower |
Peru | Compliance with BEPS standards: On 8 September 2022, a draft bill was submitted to the Peruvian Congress for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). See the story in Regfollower |
Poland | Scope of transfer pricing rules: On 13 September 2022, the Polish Official Gazette released Ordinance Nos. 1923 and 1934, clarifying transfer pricing information in the scope of personal and corporate income tax. The ordinances come into force on 27 September 2022 and apply to transfer pricing information that is transmitted for the financial year beginning after 31 December 2021. See the story in Regfollower |
South Africa | Compliance with BEPS standards: 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). See the story in Regfollower |
Switzerland | Information exchange-Bilateral: On 22 September 2022, the State Secretariat for International Finance (SIF) of Switzerland published a notification declaring the suspension of exchange of tax information with Russia. The temporary suspension applies to all types of tax information exchange agreement including country-by-country reports. See the story in Regfollower |
Turkey | Information exchange-Bilateral: 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 (CbC) reports with USA. See the story in Regfollower |
Ukraine | Transfer pricing information return: On 19 September 2022, the State Tax Service (STS) of Ukraine clarified the procedure for filling and completeness of submission of report on controlled transactions. Controlled transactions report must be submitted with notification on participation in an international group of companies by 1 October 2022. See the story in Regfollower |
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