Latest

Europe

Margrethe Vestager, proponent of EU state aid tax probes, reappointed Commission competition chief, will also lead digital policy: Mark Scott / Politico→

Americas

US IRS proposed built-in gain and loss regs remove safe harbor approach

The US IRS on September 10 issued proposed regulations under section 382(h) relating to . . .

Americas

Amazon must pay South Carolina sales tax on sales by merchants using its platform: Post and Courier→

Americas

US-Luxembourg tax treaty protocol enters into force

September 9, 2019

A new protocol to the US-Luxembourg treaty entered into force . . .

Asia-Pacific

Japan, Uzbekistan commence tax treaty negotiations

September 9, 2019

The governments of Japan and Uzbekistan begun tax treaty negotiations, the . . .

Asia-Pacific

Hong Kong government website updated to specify transfer pricing documentation requirements: Inland Revenue Department→

September 9, 2019

Africa

OECD report discusses tax reform, trends in OECD countries and Argentina, Indonesia, South Africa: OECD→

Asia-Pacific

Hong Kong government publishes revisions to practice note on deduction for foreign losses: Inland Revenue Department of Hong Kong→

Americas

US IRS practice unit confirms that French social taxes CSG and CRDS are eligible for foreign tax credit: KPMG→

Market valuation increases for companies that engage in tax avoidance or corporate social responsibility activities but lowers for those that do both, study concludes: Kerry K. Inger / Brian Vansant / American Accounting Association→

Asia-Pacific

Indonesia government to introduce bill making foreign digital firms liable for 10 percent VAT, cutting corporate rate: Reuters→

Americas

Japan, Peru agree in principle to tax treaty

Japan and Peru have agreed in principle to . . .

Walmart avoided US and Chinese taxes using Hong Kong shell company, Chinese joint venture taxed nowhere, former exec says: Max de Haldevang / Quartz→

Asia-Pacific

Czech finance ministry to introduce 7 percent digital tax beginning mid-2020: Reuters→

September 5, 2019

Europe

Sweden to introduce bank tax: Reuters→

September 5, 2019

Europe

Ireland proposes sweeping changes to transfer pricing laws

September 4, 2019

Warren Novis, Head of Transfer Pricing at BDO Ireland, discusses the Irish government’s proposed amendments the transfer pricing rules, released earlier this week . . .

Asia-Pacific

New Malaysia tax guide addresses application of sales tax and services tax on digtial services: Royal Malaysian Customs Department→

September 4, 2019

Poland abandons digital service tax after US VP visit: polandin.com→

September 4, 2019

Asia-Pacific

Singapore, UAE tax treaty amended by multilateral instrument

The Inland Revenue Authority of Singapore has announced that amendments . . .

Asia-Pacific

Australia provides arm’s length debt test guidance

Leslie Prescott-Haar and Stefan Sunde at TP EQuilibrium AustralAsia discuss the Australian Tax Office’s August 28 draft guidance on applying the arm’s length debt test for thin capitalization purposes . . .

More News

Brian Jenn joins McDermott Will & Emery’s Chicago tax practice

Brian Jenn, former US Treasury Deputy International Tax Counsel, has joined McDermott Will & Emery’s tax practice as a partner, the firm announced today. Jenn will be based in the firm’s . . .

Report assesses 116 nations’ implementation of country-by-country reporting

The OECD today released a peer review report judging whether 116 countries and their tax administrations have met . . .

Asia-Pacific

First Look: Glencore wins Australian transfer pricing case

Glencore won an AUS $92m (USD 62m) transfer pricing dispute with the . . .

Europe

Germany eyes cutting corporate rate to 25 percent: Birgit Jennen / Bloomberg→

Europe

UK raises four pleas before CJEU in appeal of Commission’s state aid decision on CFC rules: KPMG United Kingdom→

Americas

US announces entry into force dates for new tax treaty protocols with Japan and Spain