What We're Reading

Europe

Portugal approves new forms for claiming tax treaty benefits: Diário da República (in Portuguese, Spanish, & English)→

September 3, 2020

Americas

Denmark reviewing Google’s tax payments: Reuters→

September 3, 2020

OECD publishes tax information exchange reviews for Anguilla, Chile, China, Gibraltar, Greece, Korea, Malta, Papua New Guinea, Uruguay: OECD→

September 3, 2020

Americas

US IRS solicits public comment on whether the information production required to access competent authority assistance under tax treaties is overly burdensome: Internal Revenue Service / Federal Register→

September 2, 2020

Europe

Authors analyze how EU courts interpret “economic reality” for VAT purposes: Ad van Doesum & Frank Nellen / SSRN→

September 2, 2020

Asia-Pacific

Israel seeks to negotiate tax treaty with UAE: Hamodia→

September 1, 2020

Asia-Pacific

China seeks tax treaty with Norway, official says: Ministry of Foreign Affairs of the People’s Republic of China→

September 1, 2020

Americas

Economist calls on UN development agency to oppose EU tax blacklisting of Barbados and other small states, calling the action “blatantly discriminatory” policy: Marlon Madden / Barbados Today→

September 1, 2020

Americas

US congressional staff reviews worldwide digital services taxes and US Section 301 trade investigations: Congressional Research Service→

September 1, 2020

Americas

GAO concludes that US businesses use offshore micro-captive insurance companies to improperly claim tax deductions: US Government Accountability Office→

August 31, 2020

Europe

Malta publishes regulations implementing EU anti-tax avoidance directives: Malta Office of Commissioner for Revenue→

August 31, 2020

Asia-Pacific

Japan considers tax reform to lure foreign financial firms, annual policy says: Reuters→

August 31, 2020

Ghana finance minister defends government’s decision to establish entity in Jersey tax haven ensure nontaxation of mining royalties: Modern Ghana→

August 28, 2020

Asia-Pacific

South Korean tax office investigating Netflix over “phantom” management fees paid to US headquarters: Yonhap News Agency→

August 27, 2020

Denmark

Denmark eyes taxing banks, the wealthy to fund early retirement plan: The Hill→

August 27, 2020

Americas

US IRS now accepting applicants for 2021 Compliance Assurance Process program, allowing large publicly traded corps real-time tax issue resolution: Internal Revenue Service→

August 27, 2020

Africa

Ukraine, Kenya agree to negotiate tax treaty: Ukrinform→

August 27, 2020

Europe

UK publishes 2019 report on likely profile of intermediaries affected by DAC6 disclosure, impact on cross-border arrangements: HM Revenue and Customs→

August 27, 2020

Multinational

Profs suggest new global rules requiring MNEs to pay more tax in their home country to make up for low effective tax rates paid in other countries: Kimberly A. Clausing, Emmanuel Saez, Gabriel Zucman / SSRN→

August 26, 2020

Digital Economy

UK denies report it’ll end digital tax to get a trade deal with the US: Silvia Amaro / CNBC→

August 25, 2020

Americas

Covid-19 has accelerated foreign governments’ need to collect tax revenue from digital giants and the risk of US-led trade war: Vijay Govindarajan, Anup Srivastava , Hussein Warsame, & Luminita Enache / Harvard Business Review→

August 25, 2020

Europe

German finance minister “very confident” pillar one and two blueprints for digital economy will be agreed to in autumn: Reuters→

August 25, 2020

Americas

India’s Google tax contributes 1% of direct tax in IT hubs of Bengaluru and Hyderabad despite expansion to online e-commerce: Shrimi Choudhary / Business Standard News→

August 25, 2020

Asia-Pacific

Australian government advises that it will ask large entities to confirm information to be disclosed in legislatively mandated corporate tax transparency report next month: Australian Taxation Office→

August 25, 2020

Digital Economy

Facebook agrees to pay France USD 118m for 2009–2018 back taxes, advises it began reporting advertising revenue in France from 2019: Mathieu Rosemain / Reuters→

August 25, 2020

Asia-Pacific

Australian alert addresses multiple entry consolidated groups that avoid capital gains tax through transfer of assets to an eligible tier-1 company prior to divestment: Australian Taxation Office→

August 24, 2020

Americas

US notifies Hong Kong of intent to terminate agreement allowing international shippers to avoid double tax: US Department of State→

August 21, 2020

Europe

Italy enacts DAC6 directive into law effective August 26: Giorgio Vaselli / Withersworldwide→

August 21, 2020

Africa

Egypt parliament approves MLI: Egypt Today→

August 21, 2020

Asia-Pacific

Malaysia updates tax guide for foreign digital services providers: Royal Malaysian Customs Department→

August 21, 2020

Asia-Pacific

Oman State Council proposes draft income tax amendments allowing for exchange of tax information with other countries consistent with international agreements: Times Of Oman→

August 21, 2020

Asia-Pacific

Hong Kong-Macao tax arrangement enters into force

August 21, 2020

Hong Kong’s Inland Revenue Department on August 21 announced that an arrangement with Macao for the avoidance of double taxation entered into . . .

Americas

US IRS makes correcting amendments to final regs on outbound property transfers and stock distributions by domestic corporations: Federal Register→

August 21, 2020

Europe

UK HMRC updates Corporate Finance Manual to address impact of interest restriction on group or consortium loss relief: GOV.UK→

August 20, 2020

Americas

California holds hearing on bill requiring large corporations to publically disclose tax liability, tax credits claimed: Eversheds Sutherland SALT Shaker→

August 19, 2020

Europe

Russia, Malta agree to amend treaty to raise withholding tax rate for interest, dividend payments to 15 percent: Reuters→

August 19, 2020

Americas

Brazil lower house speaker Rodrigo Maia will oppose financial transactions tax, digital tax: Reuters→

August 19, 2020

Asia-Pacific

India publishes synthesized text of tax treaty with Ukraine adding MLI changes: Government of India Income Tax Department→

August 19, 2020

Europe

Russia tax authority letter to guide tax and transfer pricing audits of intra-group services, shows shift to OECD approach: Noerr LLP→

August 18, 2020

May 19 – 20	Tax Council Policy Institute Conference	Washington, D.C.
May 19 – 20	IFA Second European Region Conference	Milan, Italy
May 24	IFA Webinar Series Pillar Two: An Update	Virtual Event
Sept. 4 – 8	IFA Congress	Berlin