Latest
US disputes need for special digital economy tax rules, seeks consensus on profit allocation issues
The highly-anticipated interim report of the Task Force on the Digital Economy (TFDE), slated for release in April, will state that countries are divided on a long-term solution for taxing the digital economy, with the US arguing that there is no need for special tax rules in this area, said Chip Harter, Deputy Assistant Secretary (International Tax Affairs) at the US Department of the Treasury. Speaking in Washington at a Tax Council Policy Institute conference held . . .
Singapore budget introduces GST on imported digital services, promotes nation’s role as financial and innovation hub
Eugene Lim of Providence Law Asia, LLC, discusses Singapore’s highly-anticipated Budget 2018, released today, which includes a goods and services tax (GST) rate hike, a new GST levy on imported digital services and carbon tax, and new tax rules aimed at strengthening Singapore’s role as a financial and innovation hub . . .
US Republican tax reform plan would rewrite international tax system
US House Republicans today presented their long-awaited tax reform bill, proposing to dramatically change the US international tax system.As expected, the Republican proposal includes a move to a territorial tax system accomplished by a foreign dividends received deduction. This is coupled with a deemed repatriation of existing earnings held offshore. The bill sets the deemed . . .
Court voids French law denying withholding tax exemption for dividends paid outside EU
Davide Anghileri of the University of Lausanne discusses an EU Court of Justice ruling, delivered September 7, which concludes that France violated EU law when it applied a general antiabuse rule to deny a withholding tax exemption for dividends distributed by a resident subsidiary to a company controlled by a resident of a non-EU State . . .
Feedback sought in review of 8 countries’ tax dispute resolution processes
The OECD on June 9 asked multinational firms to provide feedback regarding their experiences with the tax dispute resolution processes in the Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain. The eight countries’ mutual . . .
Japan to sign tax treaties with Denmark and Estonia
Japan’s Ministry of Finance today announced that it has reached agreements in principle for tax treaties . . .
Italy: Google to pay 306 million euros to settle tax dispute
Google has settled a tax dispute in Italy, writes Davide Anghileri of the University of Lausanne . . .
G20 finance ministers consider tax implications of digitalization, tax certainty
G20 finance ministers and central bank governors, in a communique following their March 17–18 meeting in Baden-Baden, Germany, called on an OECD task force to produce an interim . . .
Swiss government seeks new corporate tax reform proposal by mid-2017
Switzerland’s Federal Council today mandated that the Federal Department of Finance (FDF) prepare a new corporate tax reform proposal by mid-2017, following the rejection of corporate tax reform III in a popular referendum earlier this month, writes Davide Anghileri of the University of Lausanne. . . .