In a bid to curb profit shifting, Kenya is increasing its transfer pricing documentation requirements. The recently published Kenya Finance Bill seeks to have the ultimate parent entity of a multinational enterprise group or a constituent entity of a multinational enterprise group (MNE’s), which is a tax resident in Kenya, file a country-by-country report.
The automatic exchange of financial account information between countries is linked directly to at least EUR 3 billion in additional tax revenues; it also has contributed, through voluntary disclosure and other programs, to more than EUR 112 billion in additional tax revenues, according to a November 17 . . .
Negotiators are seeking to achieve final consensus on the details of the global minimum tax deal, according to September 29 comments from European Commission official Benjamin Angel, with talks centering on the terms for carve-outs and other technical aspects that might bring into the fold remaining . . .
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