Multinational

The UK government, on April 15, tabled for the Committee of the Whole House amendments to Finance Bill 2021 relating to the corporate tax rules on hybrids and other mismatches . . .

Americas

UN Committee of Experts approves new digital tax article for model treaty

The UN Committee of Experts on International Cooperation in Tax Matters today agreed to the text of a new article and commentary for the UN model tax treaty that would grant . . .

Americas

Canada’s 2021 budget includes proposals on digital taxes, profit shifting, interest deductibility

Canada’s Budget 2021, presented by Finance Minister Chrystia Freeland on April 19, proposes several significant tax measures affecting multinational enterprises . . .

Digital Economy

Digital platforms should assist tax compliance efforts, OECD says

The digital platforms that have fueled the growth of the sharing and gig economies have a role to play in value-added tax (VAT) and goods and services tax (GST) compliance and administration, the OECD said . . .

Americas

Ireland, Mexico among countries struggling to timely resolve MAP tax and transfer pricing cases

April 19, 2021

Five of eight countries in the OECD’s latest round of peer review reports failed to resolve mutual agreement procedure (MAP) cases within the average 24-month timeframe sought by the OECD . . .

Europe

OECD names new chair of international tax policy body

April 19, 2021

The OECD announced on April 16 that it appointed Fabrizia Lapecorella as the new head of the Committee on Fiscal Affairs starting on January 1, 2022. . .

Africa

Switzerland, Luxembourg do not appear on tax blacklists while island nations do, creating the perception of racial bias, professors say: Steven A. Dean & Attiya Waris / SSRN→

April 19, 2021

More News

International Compliance Assurance Programme (ICAP) FAQs provided: OECD Forum on Tax Administration→

April 18, 2021

Americas

US confident “vast majority” of developed nations will approve global minimum tax, US deputy treasury secretary says: Thomas Franck / CNBC→

Americas

Wyden says Treasury’s OECD proposal would address digital taxes that discriminate against US companies while supporting US tax reform goals: US Senate Committee on Finance→

Americas

Groups criticize UN model tax treaty software proposal but for different reasons

Trade and civil society groups are critical of a proposal to revise the UN model tax treaty to include software payments within the definition of royalties. . .

Americas

NGO proposal revises minimum tax to overcome OECD approach’s shortcomings

The proponents of a new minimum effective tax rate proposal for multinational corporations say their proposal would modify the OECD’s proposed global anti-base erosion tax (GloBE) . . .

Americas

US support for R&D has stalled relative to France, UK, others

While several countries have significantly boosted their support for business research and development (R&D) relative to their overall economies in recent years, total US government support for business R&D . . .

G20

Higher carbon pricing through carbon taxes, emissions trading systems, and fuel excise taxes is needed to meet climate objectives, IMF/OECD report concludes: OECD→

Europe

Ireland reevaluating tax treaty policy

The Irish Department of Finance opened a public consultation on the country’s overall tax treaty policy on April 7 with an eye to adapting to OECD recommendations and ongoing . . .

Americas

Countries should suspend their DSTs now to show they are serious about reaching global agreement on international tax, ranking member says: US Senate Finance Committee→

Multinational

The case for a sustainable excess profits tax using life cycle analysis methods: Allison Christians and Tarcisio Diniz Magalhaes / SSRN→

Asia-Pacific

India reduces transfer pricing filing burdens, increases reporting thresholds

Gaurav Jain, Chartered Accountant, and Priya Bhutani, New Delhi, India, discuss April 5 amendments to India’s transfer pricing guidance relating to the master file and country-by-country reporting . . .

Africa

Leaked copy of US proposal for Pillar One and Two multinational group tax reforms available

April 12, 2021

MNE Tax has obtained a copy of a slide presentation outlining the US’s latest “Pillar One” and “Pillar Two” proposals for the reform of the international system for multinational group taxation. . .

Europe

Spanish finance minister says Spain favors global minimum corporate tax, presents committee with broad tax reforms to bolster revenue: Explica.co→

April 12, 2021

Americas

Cyprus divided on Yellen’s minimum corporate tax: Andrew Rosenbaum / CyprusMail→

April 9, 2021

Asia-Pacific

Global minimum tax’s effect on Hong Kong could be an issue for China, support could be tied to US trade tariff concessions: Frank Tang & Orange Wang / South China Morning Post→

April 9, 2021

Africa

US offers new “Pillar One” compromise plan for taxing large multinationals

April 8, 2021

The Biden administration has proposed a new “Pillar One” scheme for taxing multinational groups to a coalition of 139 countries . . .

Africa

Insight into the Platform for Collaboration on Tax’s toolkit on transfer pricing documentation

April 8, 2021

Parwin Dina, Lead Client Service Partner and Global Tax Leader, GTS (Global Tax Services) UAE, examines the Platform for Collaboration on Tax’s toolkit on transfer pricing documentation . . .

Americas

Ireland may not agree to global minimum tax, minister says

There may not be agreement among all G20 nations on a global minimum corporate tax, according to Ireland’s Finance Minister and Eurogroup President Paschal Donohoe, who . . .

Africa

UN tax committee releases updated model treaty language on automated digital services

A subcommittee of the UN Committee of Experts on International Cooperation in Tax Matters today released its final draft of proposed Article 12B and commentary on income from automated digital . . .

Europe

G20 ministers renew call for consensus over MNE taxation

G20 finance ministers and central bank governors on April 7 renewed their call on for agreement on new tax rules for multinational groups. . .

Digital Economy

OECD Secretary-General report to G20 ministers includes overview of 66 countries’ tax policy responses to COVID-19: OECD→