Inclusive Framework on BEPS

Africa

Belize and Cameroon deposit instruments of ratification for BEPS MLI with the OECD; entry into force is August 1, for both countries; Japan extends the application of the multilateral BEPS convention: OECD→

April 21, 2022

G20

OECD seeks public comments by April 29 on extractives exclusion under Amount A of Pillar One. The extractives exclusion will exclude from the scope of Amount A the profits from extractive activities: OECD→

April 14, 2022

Asia-Pacific

Thailand extends deadlines for filing transfer pricing disclosure forms and reports

April 5, 2022

Paul Ashburn, HLB Thailand, discusses the Thailand Ministry of Finance’s March 25 extension of the deadline to May 30, 2022 for companies to file related-party disclosure forms for the accounting period(s) that began between January 1, 2020 to December 31, 2020.

Asia-Pacific

Thailand deposits BEPS MLI ratification documents with OECD; the multilateral treaty will enter into force on July 1, 2022; 71 jurisdictions have now ratified, accepted, or approved the MLI: OECD→

March 31, 2022

Americas

Why Pillar Two should be abandoned

March 28, 2022

Allan Lanthier, a former advisor to the Canadian government, argues that when EU finance ministers next meet on April 5, they should abandon Pillar Two, which, he says, is a deeply flawed initiative that includes major changes on which countries had never previously agreed, including a new Domestic Minimum Top-Up tax and a significant rewrite of the Undertaxed Payment Rule.

Asia-Pacific

The current state of Turkish transfer pricing in a nutshell

March 23, 2022

Pinar Solyali and Serdar Aslan, NAZALI Tax & Legal, discuss the Turkish government’s progress toward developing transfer pricing legislation and practice to be in parallel with the BEPS Action Plans and making APA and MAP applications more widespread.

G20

OECD releases latest peer review assessing the actions jurisdictions have taken to prevent tax treaty shopping, other forms of treaty abuse under Action 6 of the OECD/G20 BEPS project: OECD→

March 21, 2022

G20

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

March 14, 2022

Americas

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

March 7, 2022

Europe

Transfer pricing in Germany: issues to monitor and address in 2022

March 3, 2022

Oliver Treidler and Tom-Eric Kunz, TP&C, analyze the current transfer pricing landscape in Germany, following the plethora of updates to regulations and administrative principles in 2020 and 2021, which has led to considerable uncertainty regarding tax audits as well as an increased compliance burden.

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→

March 1, 2022

Europe

International taxation: two-pillar plan and the OECD mainstream

February 28, 2022

Francesca Amaddeo, Tax Law Competence Centre (SUPSI), discusses the February 21 virtual “OECD Tax Talks” webinar to assess the world’s progress in implementing the historic OECD/G20 two-pillar international tax package.

Europe

Spain’s annual guidelines on tax and customs controls focus on transfer pricing issues

February 28, 2022

Abigail Blanco Vázquez and Mario Ortega, J&A Garrigues, S.L.P., discuss the Spanish tax agency’s January 31 publication of the general guidelines of the 2022 Annual Tax and Customs Control Plan, containing transfer pricing changes, including a new automated transfer pricing risk analysis system.

Africa

Kenya: embracing the two-pillar approach

February 23, 2022

Samuel Okumu, Rödl & Partner Limited, discusses the OECD-Kenya Revenue Authority’s three-day workshop in Naivasha, Kenya in late January to assess Kenya’s efforts in enacting the OECD/G20 Inclusive Framework on base erosion and profit shifting (BEPS).

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

Featured News

OECD launches public consultation on Pillar One draft model rules on revenue sourcing and nexus

February 10, 2022

Nyasha Nigel Machiri, HLB Zambia, discusses the OECD announcement that it is seeking public comment by February 18 on recently released draft model rules with respect to nexus and revenue sourcing under Amount A of Pillar One as part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS to implement the two-pillar solution.

Featured News

OECD transfer pricing guidelines get first update in five years

January 20, 2022

In the new 2022 edition of the OECD’s transfer pricing guidelines released on January 20, the OECD has made three significant additions and revisions to the guidelines for multinational enterprises and tax administrations, reflecting several enhancements developed over . . .

Africa

Swiss international tax update addresses OECD deal, treaties, MAP

January 12, 2022

Switzerland’s State Secretariat for International Financial Matters on January 10 issued a report on various ongoing tax projects, including the country’s take on the OECD deal, as well as the status of tax treaty negotiations, tax information exchange, mutual agreement procedure (MAP), and recent . . .

Americas

Barbados country-by-country reporting tax law takes effect

January 12, 2022

Barbados tax legislation enacting country-by-country reporting came into operation on December 31, 2021, following publication in the Official Gazette on . . .

Accounting

UK sets out approach to global minimum tax implementation

January 11, 2022

The UK government on January 11 opened a consultation on how it plans to implement and administer within the UK the OECD model rules on the internationally agreed 15% global minimum tax; the consultation also considers the introduction of a UK domestic minimum tax, as well as . . .

Africa

EU tax transparency directive: When turkeys vote for Christmas

January 10, 2022

Cédric Maheo, CWA Morocco, discusses how the EU directive on public country-by-country reporting for large multinationals, published in the Official Journal of the European Union on December 1, will give tax authorities in the developing world new data on multinationals operating in . . .

Carbon Tax

EU looks to pull revenue from share of OECD tax deal, environmental measures

December 23, 2021

The European Commission on December 22 proposed three “own resources” for the EU budget, including taking a share of the taxing rights to be reallocated to EU member states under Pillar One of the OECD Inclusive Framework tax deal reached in October; the two other proposed . . .

Cyprus

EU directive sets out approach to global minimum tax, adds domestic application

December 22, 2021

The European Commission on December 22 released its proposed directive to implement within the EU the global minimum tax under Pillar 2 of the OECD agreement reached between 137 countries in October; the directive largely tracks the OECD agreement, while adding . . .

Americas

US tax bill stumbles as OECD rolls out global minimum tax rules

December 20, 2021

The path toward US implementation of the internationally agreed global minimum tax hit a roadblock on December 19, as a key US Senator announced he will not support the President’s bill that would adopt the tax changes; the news came just one day before the OECD’s release of . . .

Asia-Pacific

OECD review of tax ruling exchange standard finds 36 countries could improve

December 14, 2021

Out of 131 countries the OECD reviewed in a 2020 peer review report released on December 14, 95 received no flags for improvement with respect to implementing the OECD minimum standard on exchange of information on tax rulings; however, 36 countries fell short, including . . .

Belgium

Belgium and France sign new tax treaty

December 13, 2021

Moïse Gnakouri, Catholic University of Louvain, discusses the new tax treaty Belgium and France signed on November 9, which complies with new international standards, and includes several changes, including the taxation of capital gains on the sale of shares of companies with assets consisting . . .

Carbon Tax

EU’s ‘number one priority’ in tax is implementing OECD deal, Gentiloni says

December 1, 2021

Making the recent OECD Inclusive Framework agreement operational “is now crucial,” European Commissioner for Economy Paolo Gentiloni said in November 30 remarks to the European Parliament’s subcommittee on tax matters; however, it’s not the only ambitious tax initiative in the . . .

Africa

Egypt slowly adopting tax changes on base erosion and profit shifting

November 16, 2021

Sherif Sabakhawy, TAXONOMY, discusses Egypt’s slow-moving steps towards attaining international tax norms outlined in the OECD’s base erosion and profit shifting (BEPS) project . . .

Asia-Pacific

Mauritania becomes 141st country to join global tax ‘Inclusive Framework’

November 4, 2021

The OECD Inclusive Framework gains another member, with the northwestern Africa country of Mauritania joining as the 141st member, according to a November 4 OECD release. Mauritania is also joining the October 8 global tax pact.

Asia-Pacific

Spanish Supreme Court denies access to MAP in domestic GAAR tax case

November 2, 2021

Aitor Navarro, Carlos III University, discusses the September 22 Spanish Supreme Court decision regarding SGL Carbon Holding (ECLI:ES:TS:2021:3572), addressing the denial of a mutual agreement procedure (MAP) initiation request on the grounds of tax abuse in a case involving . . .

Africa

Global tax deal to proceed with G20 endorsement, but not all is resolved

November 1, 2021

At the end of their October 30–31 summit in Rome, the leaders of the G20 adopted a declaration supporting the implementation of new international tax rules – urging the OECD “to swiftly develop the model rules and multilateral instruments” necessary to . . .

Europe

Italy introduces new patent box regime

October 27, 2021

Luca Tortorella and Michele Targa, Gatti Pavesi Bianchi Ludovici, discuss Italy’s October 21 repeal and replacement of the former patent box regime, which, from 2021 onwards, shift it from a profit-based incentive to an extra deduction for certain R&D costs incurred by . . .

Featured News

Platform for Collaboration on Tax shifts priorities in response to global tax deal

October 20, 2021

The Platform for Collaboration on Tax – a joint initiative of the OECD, United Nations, International Monetary Fund, and World Bank Group – is reevaluating its international tax priorities in light of the Inclusive Framework agreement reached . . .

Africa

Country-by-country reporting adopted in more than 100 jurisdictions, OECD reports

October 18, 2021

More than 100 jurisdictions have in place a domestic legal framework for requiring country-by-country reporting by large multinational enterprises, according to an OECD report released October 18, noting that additional jurisdictions have . . .

Featured News

Developing countries need transfer pricing rule simplifications, OECD advises G20

October 18, 2021

The OECD highlights the importance for developing countries of streamlining complex transfer pricing rules and facilitating access to country-by-country reports in October 13 recommendations to . . .

Europe

EU directive will implement OECD tax deal ‘as is’

October 13, 2021

The European Commission “will try” to deliver in December a directive to implement the OECD tax deal within the EU and that directive “will implement the agreement as is,” according to October 12 comments by Benjamin Angel, Director of the European Commission DG TAXUD, who . . .

Accounting

Ireland 2022 budget’s tax changes include 15% corporate rate, new incentives

October 12, 2021

The Irish government’s Budget 2022, announced October 12, includes an increase in the corporate tax rate to 15% in line with last week’s OECD tax agreement, expanded relief for start-up companies, a new tax credit for . . .

Africa

European Parliament approves proposal to step up fight against harmful tax practices

October 12, 2021

Vasiliki Koukoulioti, Ph.D. researcher at Queen Mary University of London, discusses the European Parliament’s October 7 adoption of a draft resolution calling for an in-depth reform of European policy to combat harmful tax practices by toughening . . .

Africa

Global tax talks reach ‘critical mass’ for landmark deal by tweaking details

October 8, 2021

The historic October 8 agreement on a global minimum tax and new rules for allocating taxing rights for large multinationals both firms up issues left open in the initial July statement and reflects concessions that were made to bring into the deal a few new countries, including . . .

Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024

David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023

Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023

Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms Susi, This article is immensely clarifying. I’d like to know whether Danish Supreme Court has already granted its…” March 24 ,2023

Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms. Susi, This article is very clarifying. I wonder whether Danish Supreme Court has already granted its decision referred…” March 24 ,2023

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