The United States has so far put in place 11 bilateral competent authority arrangements for the automatic exchange of country-by-country reports, the OECD reported a June 22 release. The US now has . . .
Hong Kong and Korea have signed an agreement for the automatic exchange of financial account information in tax matters, the Hong Kong government . . .
Hong Kong’s tax authority today announced that a tax treaty between Hong Kong and Korea entered . . .
The US Treasury Department has updated its FATCA website, reporting that a Model 1 intergovernmental agreement (IGA) signed by the US and South Korea . . .
Switzerland and South Korea have agreed to work toward implementing automatic exchange of information (AEOI) in tax matters on a reciprocal basis in accordance with the OECD common . . .
The OECD on June 9 asked multinational firms to provide feedback regarding their experiences with the tax dispute resolution processes in the Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain. The eight countries’ mutual . . .
Today the Council of the European Union removed Barbados, Grenada, the Republic of Korea, Macao SAR, Mongolia, Panama, Tunisia and the United Arab Emirates from the EU list of non-cooperative jurisdictions in taxation matters, writes Davide Anghileri of the University of Lausanne, Switzerland . . . .
Davide Anghileri of the University of Lausanne discusses the EU’s tax blacklist, released December 5, which identifies 17 “non-cooperative jurisdictions” and warns many others that they could be listed in the future if they do follow through with commitments to improve specified aspects of their tax regimes . . .
MNE Tax contributing editor, Davide Anghileri, discusses a Council of the European Union May 25 meeting where EU States agreed on new rules for regulating intermediaries that design or promote tax planning schemes; new wording to be included in agreements with third countries on good governance in tax matters; and moving the Bahamas and Saint Kitts and Nevis from the EU’s tax blacklist list to its “gray list” . . . ,
India is attempting to renegotiate tax treaties with Germany, France, Singapore, Italy, and South Korea to add corresponding adjustment provisions so that India can sign bilateral advance pricing agreements (APAs) involving these nations, writes Vrishti Beniwal in an August 26 Business Standard article, quoting unnamed Finance Ministry officials. See, Business Standard
Draft South Korean legislation would require taxpayers to submit a master file and a local file consistent with OECD rules, but not a country-by-country report, notes KPMG in an August 20 report. See: KPMG
The US Treasury Department has updated its FATCA website, reporting that South Korea has signed a Model 1 intergovernmental agreement (IGA) with the US as of June 10. The text of the agreement is available. See, FATCA IGA – South Korea.
South Korea’s parliament has passed a tax reform package which includes a new 10 percent tax on the excess cash reserves of large corporations, a new tax on capital gains from derivatives transactions, more stringent thin cap rules, and reporting requirements for cross-border related party . . .
The government of Guernsey has announced that it signed a tax information . . .
India and South Korea have signed a memorandum of understanding (MoU) agreeing to suspend the collection of taxes while mutual agreement procedure . . .
Germany had the greatest number of unresolved mutual agreement procedure (MAP) cases among OECD countries during the 2014 reporting period, according to OECD statistics . . .
Tax officials from 21 Asia Pacific countries and organizations attended an OECD regional network meeting on base erosion and profit shifting (BEPS) designed to give more nations a voice in the development of OECD/G20 base erosion profiting shifting (BEPS) plan output. The meeting, held February 12–13 in Seoul, also . . .
Hong Kong and Korea, on July 8, signed an agreement for the avoidance of double tax and fiscal evasion with respect to taxes on income .
Under the agreement, the Korean withholding tax on interest
. . .
China and South Korea have signed a bilateral advance pricing agreement, the Chinese goverment announced in a June 23 English-language release. The signing took place during a Sino-South Korea tax commissioners meeting . . .
Orders made by Hong Kong’s Chief Executive in Council under the Inland Revenue Ordinance, to implement Hong Kong’s tax treaty with Korea, signed July 2014, and its second protocol . . .
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