Africa

Developing nations detail their experiences with BEPS, react to OECD work

September 26, 2014

Tax officials from 11 developing nations described the most common practices MNEs use to shift profits out of their countries, obstacles that prevent their countries from stopping these practices, and their reactions to the OECD/G-20 base erosion profit shifting (BEPS) project, responding to a UN request for . . .

US IRS gives countries with “in substance” FATCA IGAs more time to sign IGAs, adds more countries to the “in substance” list

December 1, 2014

The US IRS on December 1 released an advance copy of guidance that provides that countries that have reached FATCA intergovernmental agreements (IGAs) "in substance" that do not sign an IGA by December 31 will continue to be treated as if an IGA was in effect as long as the country displays a "firm resolve" to sign an IGA as soon as possible. The new guidance . . .

Isle of Man signs TIEA with Swaziland

September 2, 2014

The Isle of Man has announced that it signed a tax information exchange agreement (TIEA) with the Kingdom of Swaziland on May 16.The TIEA was signed by Eddie Teare MHK, the Isle of Man’s Treasury Minister, in the Isle of Man, and by Senator Martin G. Dlamini, Swaziland’s Minister for Finance, in Swaziland.The Isle of Man has signed 42 tax agreements, including 32 TIEAs. Tax agreement with Swaziland

The Netherlands’ renegotiated tax treaty with Malawi includes antiabuse provisions

April 23, 2015

The Netherlands and Malawi have signed a revised tax treaty that includes antiabuse provisions preventing the benefits of the treaty from being used solely to avoid tax, The Netherlands government said on April 23. Dutch Minister for Foreign Trade and Development Cooperation Lilianne Ploumen said that the antiabuse provisions, which relate to taxes on dividends, interest and royalties . . .
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