OECD
Asia-Pacific

OECD holds Asia-Pacific regional meeting on BEPS

Tax officials from 21 Asia Pacific countries and organizations attended an OECD regional network meeting on base erosion and profit shifting (BEPS) designed to give more nations a voice in the development of OECD/G20 base erosion profiting shifting (BEPS) plan output. The meeting, held February 12–13 in Seoul, also . . .

Featured News

OECD officials say multilateral instrument is legal, more BEPS guidance coming

Countries can legally use a multilateral instrument to amend existing bilateral tax treaties to implement the OECD’s base erosion and profit shifting (BEPS) initiative, Pascal Saint-Amans, Director, OECD Center for Tax Policy and Administration, said on May 26, during an update of OECD progress on the BEPS action plan.

Saint-Amans said that a team of international lawyers have found legal precedent in areas other than tax . . .

Featured News

OECD eying changes to discussion draft on transfer pricing documentation, OECD BEPS project “on track”

The OECD’s Working Party 6 has tentatively decided on a number of modifications to the OECD’s discussion draft on transfer pricing documentation and country-by-country reporting, including the elimination of entity-by-entity reporting in favor of country-level reporting, said Joseph Andrus, head of OECD transfer pricing , on April 2 during a webcast updating the base erosion and profit shifting (BEPS) initiative. Pascal Saint Amans, the OECD’s director of tax work, said that BEPS deliverables were “on track” for 2014 and that work has already begun on 2015 deliverables. . .

Europe

EU Parliament approves sweeping measures to combat multinational tax avoidance

The EU Parliament on November 25 overwhelmingly approved wide-ranging proposals to overhaul Europe’s international tax system offered by a special Parliament committee investigating multinational . . .


UPDATE (11/26/2015): EU Parliament to establish new committee on tax rulings: The EU Conference of Presidents on November 26 decided to set up a six-month committee to follow up on the tax rulings committee’s work; the precise mandate of the new committee will be decided on Wednesday. See: Release.

 


UPDATE (12/02/2015): New EU Parliament tax committee will have same mandate as its predecessor: The European Parliament on December 2 voted to create a new committee to investigate tax rulings, specifying that the new committee will have the . . .

Europe

UK/German proposal for IP regimes supported by OECD Forum on Harmful Tax Practices, says UK official

A  joint proposal advanced by the UK and Germany that put limits on preferential intellectual property regimes has been adopted by the OECD Forum on Harmful Tax Practices (FHTP) as a new starting point for drafting guidance under Action 5 the base erosion profit shifting (BEPS) plan, UK Financial Secretary to the Treasury, David Gauke said December 2. Gauke said the UK/German proposal . . .

Featured News

OECD releases BEPS discussion draft on preventing treaty abuse

The OECD on November 21 released a discussion draft under Action 6 of the OECD/G20 base erosion and profit shifting (BEPS) plan relating to preventing abuse of tax treaties. The draft follows up on an OECD interim report, issued September 16, which reflects an agreement among countries to require minimum standards in tax treaties to prevent treaty abuse. The report states that treaties should include either a principle . . .

Europe

Juncker defends Luxembourg tax practices, calls for automatic exchange of private tax rulings

European Commission President Jean Claude Juncker on November 12 said advance tax rulings issued by Luxembourg to multinationals while he was the country’s prime minister were legal even though the rulings helped multinationals avoid tax due other European nations. Juncker was responding the uproar over the release of leaked taxpayer private rulings and tax returns which were . . .

Europe

Netherlands law that denies single entity tax treatment to related Dutch companies that have a non-resident parent violates EU law, ECJ says

The European Court of Justice (ECJ), on June 12, ruled in SCA Group Holding BV and other joined cases that the Netherlands may not deny single entity tax treatment to a resident parent company and its indirectly held Dutch subsidiary (sub-subsidiary)  in cases where the sub-subsidiary’s parent is a not a Dutch . . .


-For implications of the ECJ opinion on Spain’s rules governing tax consolidation, see a June 17 report by EY

OECD
Multinational

OECD releases 62 comments in response to BEPS consultation on CFC rules

The OECD on May 5 released public comments to an OECD discussion draft that provides recommendations on how countries can design effective controlled foreign companies (CFC) rules to combat base erosion and profit shifting (BEPS). Sixty-two comments were released in response to the guidance, issued April 3 in response to action 3 of the OECD/G20 BEPS. . .

Multinational

OECD’s Angel Gurría speaks on BEPS in Washington

The G20/OECD base erosion profit shifting (BEPS) project is in its “decisive stages,” with only six months remaining until the 15 BEPS deliverables must be completed, Angel Gurría Secretary-General of the OECD said at a meeting of World Bank Group and International Monetary Fund officials, G20 Finance Ministers, and Central Bank Governors held . . .