Asia-Pacific

Hong Kong: where are the new tax measures taking us?

Stefano Mariani and Mona Yip, Deacons, Hong Kong, discuss tax policy proposals advanced by Hong Kong’s Chief Executive, Carrie Lam, in her 2017 policy address, including  a new two-tier profits tax system and additional tax deductions for research and development expenditure . . . 

Americas

US Republican tax reform plan would rewrite international tax system

US House Republicans today presented their long-awaited tax reform bill, proposing to dramatically change the US international tax system.As expected, the Republican proposal includes a move to a territorial tax system accomplished by a foreign dividends received deduction. This is coupled with a deemed repatriation of existing earnings held offshore. The bill sets the deemed . . .

Featured News

Key UN international tax committee elects leaders, sets new agenda

Davide Anghileri of the University of Lausanne, an MNE Tax contributing editor, discusses a meeting of the UN Committee of Experts on International Cooperation in Tax Matters, held in Geneva 17– 20 October, where new committee co-chairs were elected and subcommittee assignments were set, including assignments for a new subcommittee on the digitization of the economy . . .

Europe

EU Council approves new cross-border tax dispute resolution plan

As expected, the ECOFIN Council today approved a directive establishing a new system for resolving double taxation disputes between EU member states. The new directive on tax dispute resolution follows an agreement reached by EU nations on May 23. It was approved without discussion. Member states will have until June  . . .

Asia-Pacific

Indian flavors in transfer pricing master file, country-by-country rules

Jitendra Jain, Executive Director at PricewaterhouseCoopers, India, discusses India’s much-awaited rules on the implementation of the master file and country-by-country report, released yesterday, focusing on the differences between India’s master file requirement and the OECD’s prescribed format and recommending next-steps to comply with the requirements . . .