Category: Regulatory
OECD publishes model rules for tax reporting by gig economy platform operators
On 3 July, the OECD released model rules for tax reporting by platform operators that assist sellers in the sharing and gig economy. Following international efforts to address the tax challenges in the digital economy, this OECD guidance represents an important step towards transparency through the exchange of information. ... - Continue reading
EU to launch tax observatory
The EU’s awareness of the relevance of tax policy is clear. On 6 July, the European Commission called for proposals for the creation of an EU tax observatory. This follows the adoption of the Commission Decision on the financing of the preparatory action EU Tax Observatory – Capacity building to support Union policy making in the area of taxation and the adoption of the annual work programme for 2020 on 16 June. ... - Continue reading
The Netherlands’ new DAC6 requirements: what multinationals need to know
Multinationals with European Union operations need to be aware of the DAC6 reporting obligations, especially since there are situations in which multinationals will be required to report cross-border arrangements with local tax authorities. ... - Continue reading
Fiscal policy key to overcoming pandemic’s impact on LatAm: UN agency
The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has stated that Latin American SANTIAGO, July 6 (Xinhua) — Latin American countries must turn to effective fiscal policy to cushion the social and economic impact of the COVID-19 pandemic and reactivate local economies, the United Nations Economic… – Continue reading
New Saudi Arabia tax guidance addresses mutual agreement procedure
Here are the amended laws regarding mutual agreement procedure (MAP). ... - Continue reading
Netherlands announces new policies for resolving cross-border tax disputes
The government has implemented new legislations in order to reform treatment of offshore tax disputes. ... - Continue reading
Tax office accused of heavy-handed approach to suspected income tax fraud
The tax office is under fire again for its handling of fraud investigations after it emerged that tens of thousands of taxpayers were subject to excessive checks and penalties on their income tax return. ... - Continue reading
Nigeria clarifies new tax on nonresident digital businesses
Now existing in a digital-led world, economies of the world have been seriously contemplating on better methods to tackle digital tax. Nigeria is no exception to the rule. ... - Continue reading
Cayman Islands: Recovering Illicit Assets Offshore Might Become A Bit Easier
New legislations on assets disclosure are now paving a way towards more tax transparency. ... - Continue reading
Cyprus: Announcement – Cyprus Investment Programme
New declaration for companies operating in Cyprus. ... - Continue reading
Tax authorities accessed 84 million offshore accounts in 2019: OECD
OECD confirms the efficiency of the Automatic Exchange of Information after its implementation in 100 countries. ... - Continue reading
OECD says U.S. still committed to global digital tax talks
OECD informs that the United States are still open to a discussion on digital tax despite asking for a pause due to more pressing matters. ... - Continue reading
Germany announces tax policy goals for Council of the EU Presidency
The German Presidency has put into place new legislations which will help revive the European economy. ... - Continue reading
Vietnam’s Tax Administration Law Takes Effect in July 2020
As from the 1st July 2020, Vietnam's tax reform measures will be implemented. ... - Continue reading
Poland poised to launch new corporate income tax regime
Government to introduce the so-called Estonian solution. ... - Continue reading
Malta: Reduced Tax And Duty On Transfers Of Immovable Property
Temporary changes in property tax have been announced by the Government. ... - Continue reading
African Countries Making Headway In Tackling Tax Evasion
According to Tax Transparency in Africa 2020 report, Africa needs to better combat illicit financial flows and be more lucid in tax matters. ... - Continue reading
Canada: Canada-US Tax Treaty – A Canadian Tax Lawyer Analysis
More on the Canada-US tax treaty. ... - Continue reading
Australia: Managing Australian & foreign tax residency status – what you need to know
Information on tax residency in Australia. ... - Continue reading
Govt Terminates Tax Treaty With Mauritius
Double Tax Treaty with Mauritius terminated. ... - Continue reading
Italy: Italian Supreme Court Confirms Foreign Trusts Should Receive Tax Treaty Benefits
Foreign trusts entitled to tax relief, says Supreme Court of Italy. ... - Continue reading
Tech companies rejected by top court on tax breaks
The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees. The justices without comment Monday turned away an appeal by Intel Corp.’s Altera unit, which challenged… – Continue reading
Australia’s resident expats on cusp of losing CGT exemption
The new Budget - Not too welcoming to Australian expats. ... - Continue reading
EU Parliament creates permanent tax subcommittee
Tax justice taken a notch higher by the European Union. ... - Continue reading
Why ‘Digital Taxes’ Are the New Trade War Flashpoint
A further discussion on the possible treatment of digital taxes in today's world where it has its hugest economic presence. ... - Continue reading
Cyprus: Double Tax Treaty Between Cyprus And Kazakhstan Ratified; Will Enter Into Force 2021
Cyprus and Kazakhstan sign double taxation agreement with one another. ... - Continue reading
Higher tax bill for Cyprus businesses after new law
Cyprus is aiming to better tackle tax avoidance by companies through a new legislation. The latter mainly addresses base erosion and profit shifting. ... - Continue reading
Angola, UAE ratify tax agreement to remove trade barriers
LUANDA, June 16 (Xinhua) — Angola and the United Arab Emirates (UAE) have ratified a Convention to Avoid Double Taxation and Tax Evasion, director of the press office of the Angolan General Tax Administration said on Tuesday. Braulio Assis said the tax agreement aims to ensure a greater flow of… – Continue reading
Gov’t tightens property rules to stem speculation
More on property tax laws in South Korea. ... - Continue reading
Australia tightens rules on foreign investment
Australia becomes more stringent regarding foreign investments. ... - Continue reading
Challenges for Transfer Pricing in an Economic Downturn
It is no surprise to anyone that we are now enterring a recession due to the economic chaos caused by the COVID-19. Consequently, countries all over the world have been adjusting their tax laws to the unprecedented turn of events. In this article, we will focus on transfer pricing laws. ... - Continue reading
Nigeria: Nigerian Government Issues Amendments To Order On Voluntary Offshore Assets Regularisation Scheme (VOARS)
Nigeria issues an amendment order for the Voluntary Offshore Assets Regularisation Scheme (VOARS). ... - Continue reading
Another COVID-19 Enforcement Tool: Money Laundering Law
This article discusses about the role of anti money laundering during the 2020 pandemic. ... - Continue reading
