An EU Commission paper released October 27 uses economic modelling to conclude that recent EU proposals for a common corporate tax base (CCTB) and a common consolidated corporate tax base with formula apportionment (CCCTB) would result a fairer and more efficient tax system, writes Davide Anghileri, of the University of Lausanne, Switzerland . . .
The UK gave away £342.9 2 million (USD 452.6 million) in tax breaks, mostly to large corporations, through its patent box tax incentive the first year the program was established, data released today by HM Revenue and Customs has . . .
The EU Commission on June 3 released a working paper identifying several categories of Member State transfer pricing rulings that raise potential State aid concerns because they sanction profit allocations. . .
The Romanian government, on June 2, announced that it will join countries working on the next phase of the OECD/G20 base erosion and profit shifting (BEPS) project as an associate, developing standards and monitoring the implementation of the BEPS . . .
Irish Tax and Customs on March 21 released Frequently Asked Questions (FAQs) on FATCA . . .
As expected, the EU Commission will need to defend in court its contention that advance pricing agreements (APAs) granted to a Starbucks subsidiary by the Netherlands and to a Fiat subsidiary by Luxembourg . . .
Francisco Lisboa Moreira, a partner with Bocater, Carmargo, Costa e Silva, Rodrigues, São Paulo, provides an update of recent Brazilian tax developments of interest to MNEs, discussing new Brazilian transfer pricing guidance and the Brazilian Congress’s approval of protocol to the Brazil-Denmark tax treaty . . .
Davide Anghileri writes about the opinion of the Advocate General of the Court of Justice of the European Union in the Bevola case, delivered January 17, which concludes that a Danish law that precludes the deductibility of final losses incurred by a company’s foreign permanent establishment violates EU law . .
Julian Feiner of Dentons, London, discusses proposed Australian legislation, introduced into Parliament February 9, that would implement a diverted profits tax, comparing the draft to the UK DPT . . .
Mary Cosgrove, a tax lecturer at the J. E. Cairnes School of Business & Economics at the National University of Ireland, Galway, provides an update of the EU Commission’s State aid challenge to tax rulings granted by Ireland to Apple . . .
The US Treasury Department updated its FATCA website January 24, reporting that Greece has signed a Model 1 intergovernmental agreement (IGA) and an understanding . . .
Joint declarations were signed by Chilean and Swiss officials December 6 to introduce automatic exchange of information in tax matters between the countries, writes Davide Anghileri of the University of Lausanne . . .
A protocol amending the 2002 Singapore-Russia tax treaty entered into force on November 25, the Inland Revenue Authority of Singapore has . . .
Copyright © 2021. DISCLAIMER: The information provided herein is general and may not be applicable in all situations. It should not be acted upon without legal advice accounting for a particular situation.
