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OECD publishes updated manual on preventing BEPS through interest deduction limits
The OECD on December 22 published a report on limiting base erosion involving interest deductions and other financial payments, updating . . .
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OECD surveys business about need for tax certainty
The OECD today invited business representatives to respond to a survey on how tax certainty promotes . . .
Africa
Jamaica, Angola, Seychelles join BEPS effort to crack down on MNE tax avoidance
Jamaica, Angola, and Seychelles have joined the framework to implement the OECD/G20 base erosion profit shifting (BEPS) project to combat multinational tax avoidance, the . . .
Americas
Americas
Americas
Americas
Americas
Africa
Americas
Europe
EU Commission seeks public input on cooperation to prevent cross-border VAT fraud
The EU Commission today opened a public consultation to gather views on the functioning of administrative cooperation regarding value added tax (VAT) and regarding the fight. . . .
Europe
EU proposals for public country-by-country reporting, CCCTB should be rejected, Irish finance minister says
Ireland’s Minister for Finance Michael Noonan today expressed opposition to EU Commission proposals for a common consolidated corporate tax base (CCCTB) and public country-by-country reporting, arguing that both measures are counterproductive . . .
Americas
Fight brewing over effort to roll back US debt/equity tax regulations
US Democrats on the House Ways and Means Committee today urged their colleagues to oppose an effort to repeal the final Section 385 debt/equity . . .
Americas
Bermuda, Kazakhstan, Côte d’Ivoire join BEPS group fighting cross-border tax avoidance
Bermuda, Kazakhstan, and Côte d’Ivoire have joined the “Inclusive Framework on BEPS,” to combat multinational enterprise tax avoidance and to better resolve cross-border tax disputes. By joining the framework, the countries have pledged . . .
Denmark
EU court to hear challenge to Denmark’s withholding tax on dividends paid to foreign investment funds
The European Court of Justice has published a reference for a Danish case (C-480/16) in the . . .
Asia-Pacific
Australia: country-by-country reporting exemption guidance offers relief to MNEs
The Australian Taxation Office (ATO) has issued guidance for multinational groups on how to apply for an exemption from the obligation to provide some or all of the information in required tax statements known as . . .
Europe
EU Advocate General approves directive excluding digital publications supplied electronically from reduced VAT
The EU VAT Directive is valid in so far as it applies a reduced rate of tax only to printed books, newspapers and periodicals, as well as to digital books which are supplied by means of a physical medium, as opposed to digital publications supplied electronically . . .
Austria
Europe
UK wins court case challenging Bank of Ireland tax scheme involving intragroup transfer of interest rate swaps
A Bank of Ireland subsidiary, Bristol & West (B&W), located in the UK, has lost its appeal in UK courts in a tax avoidance case that involved its novation of a portfolio of “in the money” interest-rate swaps . . .
Americas
Digital Economy
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Europe
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OECD: peer review for BEPS minimum standards released
The OECD today released documents to implement peer review of countries’ compliance with minimum standards devised under OECD/G20 base erosion and profit shifting (BEPS) Action 13, dealing with country-by-country reporting, and . . .
Europe
UK releases draft legislation to limit interest deductions of large corporations
The UK government, on December 5, published draft clauses for a tax law that will limit the interest deductions of large corporations, to be included in the 2017 . . .
Americas
US group urges Congress to cut OECD funding, claims US harmed by BEPS international tax standards
Representatives about 20 US advocacy groups, in a May 12 letter, urged Congress to stop funding the OECD, arguing that its work developing worldwide standards to tax multinational . . .
Asia-Pacific
Hong Kong tax bill introduces temporary tax cuts
The Hong Kong government on March 4 published Inland Revenue (Amendment) (No. 2) Bill 2016, to implement the concessionary revenue measures proposed in the . . .
Europe
EU seeks to improve cross-border business tax dispute resolution
The European Commission on February 16 launched a public consultation seeking feedback on ways to improve the resolution of double . . .
Asia-Pacific
Asia-Pacific
Europe
Americas
Africa
Africa
Americas
Africa
Austria
Austrian, German dispute over taxation of profit-participation certificates to be considered by European Court
The European Court of Justice has published a reference for an Austrian case (Case C-648/15) concerning whether Austria or Germany can tax profit-participation certificates (Genussscheine). Austria claims that the Court should hold that . . .
Europe
Guidance on Northern Ireland’s corporate tax regime published
The UK tax authority on September 26 published draft guidance on the operation of Northern Ireland’s corporation tax regime, setting out . . .
