Americas
Hungary
Bulgaria
Africa
Russia, Malta, Mauritius, Hungary, Gabon, Indonesia, Lithuania sign tax agreement on exchange of country-by-country reports
In an effort to provide their tax administrations with tools to combat corporate tax avoidance through transfer pricing, officials from 7 more countries have signed an agreement setting out the parameters for automatic exchange of country-by-country reports on large . . .
Belgium
EU Commission calls out harmful tax practices in Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta, Netherlands
The EU Commission took tentative steps toward reducing harmful tax competition among EU member countries today, publishing European Semester country reports that identify seven EU countries as potentially facilitating tax avoidance by multinationals. The Commission today also released a taxation paper detailing economic evidence that suggests that particular tax avoidance structures , , ,
Africa
Belgium
EU Commission to investigate tax ruling practices of all EU states
The European Commission has enlarged its state aid investigation into private tax ruling practices to cover all 28 European Union states. “The Commission will ask Member States to provide information about their tax ruling practice, in particular to confirm whether they provide tax rulings, and, if they do, to request a list of all companies that have received a tax ruling from 2010 to 2013,” the Commission said December 17 in a press release . . .
Europe
Hungarian draft bill would tax ISPs on Internet traffic, triggering angry public reaction
A Hungarian draft bill submitted to parliament October 22 would impose a tax on Internet service providers based on their customers’ Internet use, prompting calls for public protest. ISPs would pay a tax of Ft150 (62 U.S. cents) on each gigabyte of internet data used. The proposal may be modified to include caps on the tax. See, Wall Street Journal, Reuters, Portfolio.
Americas
US Senate Foreign Relations Committee approves eight long-pending tax treaties, Rand Paul not present for the vote
In a surprising development, the US Senate Committee on Foreign Relations on November 10 approved without amendment proposed income tax treaties with Chile, Hungary, and Poland; proposed tax protocols with Japan, Luxembourg, Spain, and Switzerland; and a proposed protocol amending the multilateral mutual administrative assistance treaty. . .
Americas
US Treasury official urges Senate committee to approve ratification of pending tax treaties
Witnesses testifying before the US Senate Committee on Foreign Relations on October 29 urged the committee to recommend ratification of eight pending US tax treaties and protocols, highlighting key aspects of the . . .
Africa
Fifty-one countries sign agreement for automatic exchange of information under global standard
Tax authorities from 51 jurisdictions have signed a multilateral competent authority agreement, laying the groundwork for automatic exchange of financial account information under the OECD/G-20 Common Reporting Standard beginning 2017 . . .
Americas
Luxembourg signs tax treaties with Hungary and Uruguay
Luxembourg Finance Minister Pierre Gramegna on March 11 signed tax treaties with representatives of Hungary and Uruguay while attending an Ecofin meeting . . .
