Americas

EU finance ministers blast US international tax reform proposals

Finance ministers from Italy, Germany, France, the UK, and Spain have written to US Treasury Secretary Steven Mnuchin warning that provisions in the US tax reform bill contravene the US’s tax treaty and World Trade Organizations (WTO) obligations as well as international agreements reached under the OECD/G20 base erosion profit shifting (BEPS) plan. The ministers – Italy’s Pier Carlo Padoan, Germany’s . . .

Asia-Pacific

Comments released on tax guidance addressing offshore indirect asset transfers

18 comment letters – including letters from the governments of India and China — were released today responding to a draft “toolkit” designed to help developing countries address the taxation of offshore indirect transfers of assets, a practice used by some multinational corporations for tax avoidance. The guidance was prepared by “Platform for Collaboration on Tax,” a joint effort of the IMF, UN, OECD, and . . . .