Liechtenstein’s government on March 4 announced that it has instructed its tax authority to prepare a consultation report on implementing tax measures in the OECD/G20 base erosion profit shifting (BEPS) plan final guidance.
The government said in a statement that it has asked for guidance on the:
- introduction of hybrid mismatch rules within corporate groups to avoid double non-taxation,
- introduction of transfer pricing documentation and country-by-country rules for large companies,
- transitional provision for companies currently taking advantage of IP box rules that will expire at end of 2020,
- inclusion of the term “ruling” along with cost and legal consequences.
The government will propose tax amendments to Parliament by year end.
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