What We're Reading–MNE Tax

Asia-Pacific

Turkish government working on plan to reduce corporate tax rate to 15–18 percent beginning next year, official say: Daily Sabah→

October 16, 2020

Europe

EU Advocate General concludes that Poland’s retail tax and Hungary’s advertising tax, both based on turnover, are not State aid even though they primarily affect larger undertakings: Court of Justice of the European Union→

October 15, 2020

Asia-Pacific

Australia practice statement addresses interpretation of principal or main purpose tests in tax treaties: Australian Taxation Office→

October 15, 2020

Asia-Pacific

Japan, Georgia commence tax treaty negotiations: Japan Ministry of Finance→

October 15, 2020

Americas

France reinstates digital tax, courting trade war: Bjarke Smith-Meyer & Elisa Braun / POLITICO→

October 14, 2020

G20

OECD Secretary-General reports on status tax policy initiatives to G20 finance ministers: OECD→

October 12, 2020

Digital Economy

OECD should reconsider formulary methods as pillar one and two do not benefit small and poor countries and are too complex, civil society group says: The BEPS Monitoring Group→

October 12, 2020

Americas

US corrects final tax regs on income subject to a high rate of foreign tax: Department of Treasury / Federal Register→

October 9, 2020

Americas

US IRS issues final BEAT regulations: Department of Treasury→

October 9, 2020

Americas

Cayman Islands Premier welcomes island’s removal from EU tax blacklist: Ministry of Financial Services, Cayman Islands →

October 8, 2020

Digital Economy

Spain’s upper house passes financial transactions tax, digital services; both taxes to go into effect in January: Cristina Enache / Tax Foundation→

October 8, 2020

Americas

Barbados appalled at EU’s “unjust” and “disproportionate” decision to list the Island as a non-cooperative jurisdiction for tax purposes, Prime Minister says: NationNews→

October 8, 2020

Americas

US IRS issues final regs on withholding and information reporting for dispositions of partnership interests engaged in US trades or businesses: US Treasury→

October 8, 2020

Multinational

NGO expresses support for UN model tax treaty clarification providing that all payments for rights to use computer programs or software are covered in royalties article: The BEPS Monitoring Group→

October 6, 2020

Asia-Pacific

Hong Kong adds XML schema (version 2.0) plus user guide for country-by-country reporting: Hong Kong Inland Revenue Department→

October 6, 2020

Americas

New US IRS practice unit training materials address cost-sharing arrangements and stock-based compensation: US Department of the Treasury→

October 5, 2020

Americas

Pillar 2 negotiations could result massive increase in global tax and compliance costs, undermining COVID-19 recovery efforts, US advocacy group says: Peter Sepp / National Taxpayers Union→

October 5, 2020

Asia-Pacific

Singapore, Kazakhstan tax treaty gazetted: Government of Singapore→

October 2, 2020

Europe

NGO report reveals German pharma company Qiagen’s tax avoidance through intercompany loans: SOMO→

October 2, 2020

Europe

Russia, Malta signed protocol to tax agreement raising withholding tax on dividends and interest to 15 percent: TASS→

October 2, 2020

Europe

EU Commission publishes VAT e-commerce explanatory guidance:→

October 2, 2020

Americas

US IRS advises taxpayers to exit abusive micro-captive insurance schemes, will target variations of abuse identified in Notice 2016-66: IRS→

October 1, 2020

Americas

California governor vetoes bill requiring the Franchise Tax Board to disclose to the legislature of large corps’ gross receipts, tax liabilities, tax credits: Chirs Micheli / California Globe→

October 1, 2020

Americas

US issues final regs on gain or loss of foreign persons from sale or exchange of partnership interests [TD 9919]: US Treasury→

September 30, 2020

Americas

US issues tax regs on source of income from certain sales of personal property including inventory by nonresidents attributable to a US fixed place of business [TD 9921]: US Treasury→

September 30, 2020

Americas

US issues proposed foreign tax credit regs [REG-101657-20]: US Treasury→

September 30, 2020

Americas

US issues final and temporary foreign tax credit regs [TD 9922]: US Treasury→

September 30, 2020

Europe

UK affiliate of Airbnb UK hit with £1.8 million (USD 2.3 million) tax bill for 2019 after audit: Reuters→

September 30, 2020

Asia-Pacific

Jordan becomes 53rd country to deposit instrument of ratification for BEPS MLI: OECD→

September 30, 2020

Americas

US corrects FDII and GILTI regs: Federal Register→

September 30, 2020

Africa

Botswana, Eswatini, Jordan, and Namibia sign Multilateral Convention on Mutual Administrative Assistance in Tax Matters: OECD→

September 30, 2020

Multinational

Tax Inspectors Without Borders activities described in new report: OECD/UNDP→

September 30, 2020

Digital Economy

EU publishes explanatory notes on VAT e-commerce rules: European Commission→

September 30, 2020

Americas

US IRS corrects final regs on limitations dividends received deduction: Federal Register→

September 25, 2020

Europe

UK Autumn 2020 Budget canceled: London Evening Standard→

September 23, 2020

Europe

Ireland proposes revisions to investment limited partnership structure: Ireland Department of Finance→

September 23, 2020

Americas

US IRS issues proposed regs that modify the ownership attribution rules applicable to outbound transfers of stock or securities of a domestic corporation under section 367(a): Federal Register→

September 23, 2020

Americas

US IRS publishes final regs on ownership attribution for determining CFC or US shareholder status: Federal Register→

September 23, 2020

Americas

EU leaning towards appealing Apple tax decision, unnamed senior tax officials say, deadline to appeal is Sept. 25: Simon Van Dorpe / Politico→

September 23, 2020

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