More News–MNE Tax

Asia-Pacific

Celltrion companies, others fined USD 12.5 million (KRW15.4 billion) in South Korean transfer pricing violations: Sarah Chea / Korea JoonAng Daily→

Belarus

UK announces it is suspending exchange and sharing of tax information with Russia and Belarus, meaning Russia will no longer receive information under any of the UK’s agreements: exchange of information on request, common reporting standard or country-by-country reporting: Gov.uk→

Estonia

EU finance ministers fail to unanimously agree on proposed Pillar Two directive; the date on which member states would make it effective had been moved from Jan. 2023 to Dec. 2023 in compromise text; the UTPR is delayed to Dec. 2024 under this compromise; Estonia, Malta, Poland, and Sweden still have reservations; will try again Apr. 5: János Ammann / EURACTIV→

Asia-Pacific

UAE and OECD meet to discuss country’s progress in implementing international tax standards: Deepthi Nair / The National→

More News

OECD releases further technical guidance on Pillar Two model rules for 15% global minimum tax plan, elaborates on application of GloBE rules: OECD→

G20

The OECD/G20 Inclusive Framework on BEPS invites public comments on Pillar Two by April 11: OECD→

Americas

US Senate Finance Committee Chair Wyden proposes to cancel preferential GILTI rate on Russian and Belarusian income, and deny foreign tax credits and deductions for taxes paid to Russia and Belarus: Ron Wyden / US Senate Commitee on Finance→

More News

Proposal for a United Nations Convention on Tax: need new rules for tax transparency, elimination of the arm’s length principle: Tove Ryding / European Network on Debt and Development / Global Alliance for Tax Justice→

Americas

US Congressional Research Service addresses pros and cons of Pillars One and Two: Jane Gravelle / Congressional Research Service→

Digital Economy

Switzerland opens public consultation on OECD/G20 minimum tax plan for multinationals (in French): Swiss Federal Council→

Africa

Botswana becomes 33rd African country to endorse regional initiative for transparency and exchange of information for tax purposes: OECD→

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OECD publishes comments received on draft rules for tax base determinations under Pillar One Amount A: OECD→

Americas

USCIB comments on OECD public consultation document Pillar One – Amount A: United States Council for International Business→

Americas

NFTC releases comment letter on OECD public consultation document: Pillar One – Amount A: National Foreign Trade Council→

Americas

NFTC letter to US Treasury Secretary Yellen requesting delay in the applicability of the foreign tax credit regulations: National Foreign Trade Council→

Americas

US Treasury official says it is working with Congress to ensure Pillar Two does not negate tax benefits like R&D: Assistant Secretary for Tax Policy Lily Batchelder / US Department of the Treasury→

Africa

Pillar One rules should disallow deductions for losses occurring prior to implementation, an intergovernmental group of 54 developing economies says / The South Centre→

Africa

OECD Global Forum launches new trainer program for tax officials in Africa, Asia, and Latin America: OECD→

Accounting

Accounting firms write US Congress, request delay in R&D tax and accounting changes: Cohn / Accounting Today→

Americas

What every taxpayer should learn from Coca-Cola: Song / CrossBorder Solutions→

Americas

US President Biden urges 15% minimum corporate tax in State of the Union address: Barrett / YahooFinance→

Europe

UK publishes final guidance on uncertain tax treatment notification requirement for large businesses: HM Revenue & Customs→

Asia-Pacific

Bahrain, Romania deposit instruments of ratification for BEPS MLI with the OECD, joining 70 other countries; entry into force is June 1, for both countries: OECD→

Africa

OECD releases third batch of transfer pricing country profiles for 28 jurisdictions: OECD→

February 28, 2022

American Samoa

EU Council keeps 9 jurisdictions on `harmful’ tax practices blacklist: American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu: Council of the European Union→

February 25, 2022

Asia-Pacific

Greece, Australia start tax treaty negotiations: Papadopoulos / Greek City Times→

February 25, 2022

Asia-Pacific

India refunds US $1.1 billion to UK-based Capricorn Energy (formerly Cairn) to settle tax dispute: BusinessLine→

February 25, 2022

More News

‘OECD Tax Talks’ presentation slides: OECD→

February 24, 2022

Americas

The road to audit-proof transfer pricing documentation: Song / CrossBorder Solutions→

February 24, 2022

Americas

Apple v. European Commission: Outcome could strengthen or weaken Commission’s success in challenging lack of arm’s length principles in TP methods through state aid concerns: Cantley and Dietrich / SSRN→

February 24, 2022

More News

Public comments released on OECD draft rules for nexus, revenue sourcing under Pillar One Amount A (63 entries): Dropbox.com→

February 23, 2022

Americas

USTR prods Canada to scrap digital services tax: Office of the US Trade Representative→

February 23, 2022

Asia-Pacific

Hong Kong announces plans to implement BEPS 2.0, introduce 15% domestic minimum tax for in-scope MNCs from 2024-25: Yuen / Marketing-Interactive.com→

February 23, 2022

Asia-Pacific

Singapore considers `top-up’ tax to raise MNE group tax rate to 15%: Kit / Channel News Asia→

February 22, 2022

More News

OECD seeks public comments by Mar. 4 on draft rules for tax base determinations under Amount A of Pillar One→

February 22, 2022

Americas

Netherlands, Colombia sign income tax treaty: Geis / Commentary Box Sports→

February 18, 2022

Americas

Largest MNEs can’t comply with requirements to track their transactions under OECD tax deal’s draft revenue sourcing rules, USCIB says: McDonald and Minor / USCIB→

February 18, 2022

Americas

US Senate Finance Committee Republicans write US Treasury Secretary with `alarming’ concerns over OECD tax plans: Crapo / US Senate Committee on Finance→

February 17, 2022

Asia-Pacific

Iran, Finland sign tax treaty: Tasnim News Agency→

February 14, 2022

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