Latest

Africa

South Africa prevails with a TNMM analysis in transfer pricing dispute, but should it have?

New York City economist, Dr. J. Harold McClure, discusses South Africa’s win in a transfer pricing dispute with a catalytic converter manufacturer in ABC (Pty) Ltd. v. Commissioner . . .

Europe

Netherlands adds new minimum substance requirements to conditional withholding tax anti-abuse rule

Roderik Bouwman and Rhys Bane, DLA Piper, Amsterdam, discuss the Netherlands government’s latest regulations clarifying the new conditional withholding tax on interest and royalty payments, which became effective on January 1. . . .

Asia-Pacific

EU Code of Conduct Group’s taxation work program released

Francesca Amaddeo, a Lecturer-Researcher, at the Tax Law Competence Centre (SUPSI), Manno, Switzerland, discusses the Council of the European Union’s February 9 release of the Code of Conduct Group’s new work plan under the Portuguese Presidency . . .

Digital Economy

Is the EU (unintentionally) undermining ongoing OECD work on digital taxation?

Oliver Treidler, TP&C GmbH, discusses the January 14 European Commission inception impact assessment and request for public feedback on the design of an EU digital levy . . .

Africa

OECD publishes assessment of cross-border tax dispute resolution in 13 more countries

The OECD on February 1 published assessments of the cross-border tax dispute resolution processes in Aruba, Bahrain . . .

Asia-Pacific

EU expected to again delay Turkey’s tax blacklisting, grant more time for compliance with tax information exchange standard: WION→

Americas

Maryland becomes first US state tax to digital advertising revenue: Celine Castronuovo / The Hill→

Europe

UK asks for public input on tax and regulatory changes needed to improve its investment funds regime: HM Treasury→

Americas

US Tax Court upholds IRS disallowance of section 38 and 41(a) research credit for activities undertaken by taxpayer’s subsidiary: US Tax Court→

Europe

Ireland updates tax guidance on controlled foreign company rules to reflect Finance Act 2020 changes: Irish Tax and Customs→

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Asia-Pacific

Taiwan amends transfer pricing guidance for intangible transactions

Yuanchang, Toby, SU, General Manager, Fu Ten TP Consulting, Taiwan, discusses the final version of Taiwan transfer pricing regulations, released last year . . .

Americas

Coca-Cola’s tax liability in transfer pricing dispute over intangible property licenses could be 12 billion, company reports: David Allison / Atlanta Business Chronicle→

Europe

EU Code of Conduct Group (Business Taxation) publishes work program for Portuguese Presidency: European Council→

Americas

Fordham University law professor Rebecca Kysar appointed Counselor to the Assistant Secretary, Office of Tax Policy: US Treasury Department→

Americas

Maryland bill would prohibit tech companies subject to new digital advertising tax from charging the purchaser a separate fee to cover the tax: Danielle E. Gaines / Maryland Matters→

Americas

Georgetown professor Itai Grinberg to be new US Deputy Assistant Secretary for Multilateral Tax Office of Tax Policy: US Department of Treasury→

Americas

Kimberly Clausing appointed US Deputy Assistant Secretary for Tax Analysis, Office of Tax Policy: US Department of the Treasury→

Africa

Stakeholders weigh-in on BEPS Action 14 standards for cross-border tax dispute resolution

Parwin Dina, Lead Client Service Partner and Global Tax Leader, GTS (Global Tax Services) UAE, discusses an OECD consultation meeting, held February 1, addressing OECD Secretariat proposals with respect to a 2020 review of BEPS Action 14, concerning cross-border tax dispute resolution . . .

Americas

Dominican Republic guidance addresses transfer pricing thresholds, tax haven list

Jessica Barbieri an Associate at BaseFirma Venezuela discusses Dominican Republic tax authority guidance issued earlier this month covering various tax issues, including new transfer pricing thresholds and updates to the tax haven list . . .

Asia-Pacific

Qatar’s new transfer pricing documentation rules

Rubeena Dina, Partner at Global Tax Services, UAE and Director at GTS Africa – Mauritius discusses Qatar’s new transfer pricing regulations . . .

Europe

Portugal increases taxes on the acquisition and ownership of real estate assets

Diogo Ortigão Ramos and João Pedro Russo, Cuatrecasas, Portugal discuss tax changes introduced by the Portuguese State Budget for 2021 which are effective January 1 . . .

Asia-Pacific

Maldives provides English translation of country-by-country reporting regulations: Maldives Inland Revenue Authority→

Digital Economy

UK exploring options for new tax on online sales: Sky News→

Europe

Ireland updates tax guidance on company residence to reflect the end of transition period provided in the Finance Act 2014: Irish Tax and Customs→

Europe

EU digital tax proposals are unwarranted and flawed, tax policy group argues: Daniel Bunn / Tax Foundation→

February 9, 2021

Asia-Pacific

India files suit in Singapore High Court challenging Vodafone arbitration award: ET Telecom→

Asia-Pacific

Japan, Switzerland agree to amend tax treaty

The government of Japan and the Swiss Federal Council have agreed in . . .

Americas

Bermuda lists jurisdictions treated as reportable jurisdictions for country-by-country reporting: Bermuda Ministry of Finance, Treaty Unit→

Europe

Switzerland aims to make tax system more competitive

Switzerland’s Federal Department of Finance is developing new tax rules designed to improve Switzerland’s attractiveness as a business . .

Multinational

Using a novel measurement approach, professors conclude that Pillar One and Two blueprint rules are more complex than existing OECD and UN transfer pricing guidance: Jean-Edouard Colliard, Lorraine Eden, & Pierre Georg / SSRN→

Europe

Poland APA statistics reveal alarming trends

Dr. Monika Laskowska of the Center of Tax Analyses and Studies, Warsaw School of Economics, discusses trends in Poland’s advance pricing agreement program, as revealed by recent statistics published by Poland’s tax authority . . .

Multinational

UN tax committee publishes practices and working methods agreed to at its October 2020 meeting: United Nations Committee of Experts on International Cooperation in Tax Matters→

Americas

EU Commission’s grounds for appeal in Apple State aid tax case published: European Court of Justice→

Asia-Pacific

India’s Budget – Implications for the international business community

Mukesh Butani and Seema Kejriwal, Partners at BMR Legal, provide a detailed look at the tax implications for the international business community of India’s financial year 2021-22 budget, which includes controversial changes to India’s equalisation levy . . .

Americas

Mexico amends tax rules applying to digital service providers, online platforms

Arturo Treviño Villarreal, a Tax Partner at Fratelli Consultores, Monterrey, Mexico, discusses new Mexican rules which entered effect on January 1 that address the income tax and VAT treatment of digital services and transactions performed on technological platforms . . .

Asia-Pacific

Australia says top international MNE compliance risks are profit shifting, related party debt, service hubs, inbound supply chain pricing, PE avoidance, non-arm’s length intangibles arrangements, outbound PE, foreign disposal of property: Australian Taxation Office→

Americas

Professor highlights importance of third-party asset valuation to protect US tax system from abuse: Leandra Lederman / SSRN→