Americas
Trump budget advocates territorial tax system, omits border adjustment
US President Trump today released his first budget, presenting tax proposals that echo the principles that the Administration . . .
Fight brewing over effort to roll back US debt/equity tax regulations
US Democrats on the House Ways and Means Committee today urged their colleagues to oppose an effort to repeal the final Section 385 debt/equity . . .
Bermuda, Kazakhstan, Côte d’Ivoire join BEPS group fighting cross-border tax avoidance
Bermuda, Kazakhstan, and Côte d’Ivoire have joined the “Inclusive Framework on BEPS,” to combat multinational enterprise tax avoidance and to better resolve cross-border tax disputes. By joining the framework, the countries have pledged . . .
2016 US model tax treaty differs significantly from draft version, practitioners say
US Treasury has published an updated US model tax treaty, making significant revisions to the text of draft treaty provisions released last May. The 2016 US Model Income Tax Convention, published on Wednesday, will be . . .
31 nations sign agreement on exchange of country-by-country transfer pricing reports
In an effort to provide their tax administrations with more tools to combat corporate tax avoidance through transfer pricing, officials from 31 countries today signed an agreement setting . . .
TCJA “Blue Book” released: Joint Committee on Taxation→
Source: JCS-1-18
Wheaton settles transfer pricing dispute with Canada Revenue agreeing to increase service fee charged to foreign subsidiary: Wheaton Precious Metals→
Wheaton Precious Metals™ Corp. (“Wheaton” or the “Company”) is very pleased to . . .
More: Mining.com, Streetwise Reports.
UK requires companies in Caymans, BVI, other territories, to publicly disclose ownership
Britain’s overseas territories, including the tax havens of Cayman Islands, British Virgin Islands, and Bermuda, must introduce publicly accessible registers of the beneficial ownership of companies located in their jurisdictions before 2021 or the UK will require them to do so, a law approved by UK Parliament . . .
Switzerland weighs expansion of automatic exchange of tax information to 20 more countries
Davide Anghileri of the University of Lausanne discusses Switzerland’s decision to launch a consultation on automatic exchange of information with 20 more countries . . .
US, Mexico agree to transfer pricing framework for maquiladoras
The US IRS today announced agreement with Mexico on a transfer pricing framework for US multinational enterprises that have maquiladora operations which, if applied in . . .
US group urges Congress to cut OECD funding, claims US harmed by BEPS international tax standards
Representatives about 20 US advocacy groups, in a May 12 letter, urged Congress to stop funding the OECD, arguing that its work developing worldwide standards to tax multinational . . .