Americas
Brazil’s country-by-country reporting obligation
Francisco Lisboa Moreira, an attorney with Castro, Barros, Sobral, Gomes, discusses Brazil’s country-by-country reporting requirement for large multinationals, identifying unresolved questions associated with the new rules . . .
Taiwan, US sign Model 2 FATCA IGA
Taiwan and the US signed a Model 2 FATCA intergovernmental agreement (IGA), according to an update on the US Treasury . . .
Canada releases draft tax legislation to implement 2016 budget proposals
Kabir Jamal, an attorney with Goodmans LLP, Toronto, reports that the Canadian government has just released for consultation draft tax proposals to implement measures in Budget 2016 . . .
OECD report reveals disagreement on taxation of digital firms
A highly anticipated OECD interim report, published today, reveals that there is still no consensus among countries on whether changes should be made to international tax rules that apply to multinational digital firms. Countries did agree to study international tax concepts to see if improvements can be made, though. Also, while the report states that there is no consensus on short-term interim measures to tax the digital economy either, countries . . .
Experts consider next round of US international tax changes, BEAT as leverage in EU tax negotiations
With the ink still drying on a sweeping reform of the US international tax system, academics, economists, government officials, and tax practitioners gathered in Washington at the February 2 IIEL & ITPF tax conference to offer suggestions on how to replace or revise the new law and discussed how to the BEAT might be used as leverage in tax negotiations with the EU . . .
Idan Netser joins Fenwick & West as tax partner
Mountain View, California, firm, Fenwick & West, announced November 20 that Idan Netser has rejoined the firm as a tax partner. Netser’s practice focuses on all areas of corporate taxation, including international, corporate, and partnership taxation, transfer pricing, foreign tax credits, tax planning and restructuring, international joint ventures . . .
Twenty nations’ tax laws may aid multinational profit shifting, OECD report says
Twenty countries have tax laws that may be considered harmful preferential regimes, facilitating tax avoidance by multinationals and reducing the tax base of other countries, an OECD report released Monday revealed. The review, conducted by the OECD Forum on Harmful Tax Practices (FHTP), assessed countries’ tax laws against . . . .
Canada to negotiate tax treaties with Germany and Switzerland
Canada’s Department of Finance on June 7 announced in separate releases that it will commence tax treaty negotiations with . . .
US Sens. Sanders, Schatz introduce tax bill to end deferral of multinational profits, close loopholes
US Senators Bernie Sanders (I-Vt.) and Brian Schatz (D-Hawaii) today introduced a tax bill designed to curtail . . .