Multinational

The government of Mongolia has filed its defense and counterclaim in a USD 155 million international arbitration tax dispute with the operator of the Oyu Tolgai mine, Oyu Tolgai LLC . . .

Americas

US lawmakers reintroduce public country-by-country reporting bill: Rep. Cynthia Axne→

Asia-Pacific

Indian court rules most favored nation clause triggered in tax treaty with Netherlands

Ritu Shaktawat and Rahul Jain, Khaitan & Co., discuss the High Court of Delhi’s April 22 ruling in a landmark judgment concerning the interpretation of the India-Netherlands tax treaty’s most favored nation clause . . .

Europe

ECJ to this week hear Luxembourg’s appeal of the General Court’s decision in Fiat which approved the Commission’s use of the arm’s length principle to determine if a tax ruling gives rise to State aid: Seán McCárthaigh / Irish Times→

Americas

US IRS private letter ruling addresses tax consequences of multinational’s restructuring of US entities: Internal Revenue Service→

May 10, 2021

Americas

India may oppose US proposal to tax only top 100 companies: Dilasha Seth / Business Standard→

May 10, 2021

Americas

Global deal on MNE tax reform likely by October, Saint-Amans tells the French Senate’s finance committee: Reuters→

May 10, 2021

Europe

Ukraine tax authorities adopt new rules for nonresident registration

May 7, 2021

Iryna Kalnytska, GOLAW, discusses Ukrainian tax guidance concerning foreign (non-resident) companies that must register with Ukrainian tax authorities . . .

Digital Economy

UK supports Biden’s global tax deal proposal, with caveats

May 6, 2021

The UK’s primary interest in international tax talks is addressing digital taxation and the allocation of taxing rights under the OECD’s “Pillar One,” but it is okay with the US’s not-digital-only approach to Pillar One, according to Mike Williams . . .

Americas

Professor breaks down US strategy in Pillar 1 & 2 negotiation: Michael P. Devereux / Oxford→

May 6, 2021

Global minimum tax agreement will require substance-based carve-out, Saint-Amans says

May 5, 2021

To reach international agreement, a global minimum tax deal would need to exclude from minimum taxation income from substantive activities within a jurisdiction, according to Pascal Saint-Amans . . .

Americas

Danish High Court rules on beneficial ownership of dividends for tax purposes

May 5, 2021

Susi Baerentzen, Carlsberg Foundation Postdoctoral Fellow, discusses a highly-anticipated High Court of Eastern Denmark ruling issued May 3 that resolves two tax disputes concerning beneficial ownership . . .

Digital Economy

OECD preparing plan to stop unilateral tax measures, Saint-Amans says

The OECD is working on a framework to prevent countries from enacting unilateral tax measures, such as digital services taxes, as part of an agreement under the “Pillar One” negotiations . . .

UN declines to amend model tax treaty on software payment taxation

The UN Committee of Experts on International Cooperation in Tax Matters, at its 22nd session, decided against adding a proposal to add computer software payments to the UN model tax treaty’s definition of royalty payments . . .

Africa

OECD’s Global Forum to train African tax officials

The OECD’s Global Forum launched in April its “Train the Trainer” pilot program – a move to provide local training to African tax auditors and investigators . . .

Asia-Pacific

Global minimum tax opponents will not stop agreement, Saint-Amans says

Negotiations on a global minimum tax on corporations have the momentum that they need to reach an agreement now that France, Germany, and others have signaled support for recent US proposals. . .

Digital Economy

UN versus OECD – It’s time for the UN to get going

Kuldeep Sharma, ADIT (CIOT, UK), discusses why it’s time for the UN to come out of the shadows of the OECD, make structural changes to its tax committee and strengthen its Secretariat to bring it at par with the OECD . . .

Multinational

OECD and francophone tax administration group CREDAF renew agreement to promote fair tax systems: OECD→

May 3, 2021

Multinational

Tax Inspectors Without Borders has helped developing countries bring in more than USD 1 billion in additional tax revenues: OECD→

April 29, 2021

Americas

Biden plan would raise US MNE taxes by 81 percent, create incentives for profit shifting out of the US, think tank concludes: Cody Kallen / Tax Foundation→

April 29, 2021

Denmark

Denmark Supreme Court rules in Tetra Pak transfer pricing case

April 29, 2021

Susi Baerentzen, Carlsberg Foundation Postdoctoral Fellow, discusses the Danish Supreme Court’s April 26 ruling in a landmark transfer pricing case involving a Danish company Tetra Pak that produced and sold plants for manufacturing ice cream . . .

Africa

UN updates transfer pricing manual for developing countries

The United Nations’ latest edition of its practical manual on transfer pricing for developing countries, released April 27, adds new content on financial transactions . . .

Americas

French and German finance ministers voice support for US proposal on global minimum tax: Reuters→

Americas

Google UK reports its 2020 financials: the transfer pricing implications

Dr. J. Harold McClure, New York City, discusses the transfer pricing implications of Google UK’s 2020 financial report . . .

Europe

EU preferential regimes and Code of Conduct Group: state of play

Francesca Amaddeo, Tax Law Competence Centre (SUPSI), discusses several developments in April regarding the EU Code of Conduct Group’s effort to rein in tax avoidance . . .

Europe

Spanish guidance clarifies transfer pricing arm’s length range

Mario Ortega and Íñigo García, J&A Garrigues, S.L.P., discuss Spain’s February 24 transfer pricing guidance on arm’s length price . . .

Europe

EU’s digital levy proposal to run parallel to OECD talks, Commission official confirms

April 23, 2021

The EU’s proposed digital levy would be in addition to any agreement on taxing large digital companies that arises from OECD talks this year, but the levy will be modest, according to Benjamin Angel, the European Commission’s Director of Direct Tax Policy and acting Director of Indirect Tax Policy. Speaking . . .

Americas

Global agreement on new nexus rules and minimum tax likely by October, Saint-Amans says

Momentum is quickly growing for agreement on the final policy approach for new international tax rules on country taxing rights under the OECD’s “Pillar One” . . .

Americas

US Treasury Secretary Yellen says tax moves needed to help tackle climate change

US Secretary of the Treasury Janet L. Yellen spoke on April 21 of the Biden administration’s “whole-of-government approach” to aggressively tackling climate change – including creating a targeted investment tax credit . . .

Americas

Google UK paid just £50 million (69.14 million USD) in corporate tax last year, despite posting £1.8 billion (2.49 billion USD) of revenues: Chris Newlands / inews→

Europe

Poland clarifies its unique definition of “controlled transaction” for transfer pricing purposes

Dr. Monika Laskowska, Center of Tax Analyses and Studies, discusses Poland’s early April launch of a public consultation on new transfer pricing guidance defining controlled transactions . . .

Asia-Pacific

Maldives publishes advance pricing arrangement regulations