OECD tax overhaul to disrupt Bahamas’ economy
More jurisdictions worried about their economy following OECD's new corporate tax laws ... - Continue reading
More jurisdictions worried about their economy following OECD's new corporate tax laws ... - Continue reading
New proposals to reform the global tax system could adversely affect the economy of Ireland. Here's more. ... - Continue reading
The finance ministers and central bankers of the Group of 20 (G20) discussed issues of the coronavirus, taxation and global economy during a two-day meeting concluded on Sunday in Riyadh. The G20 financial officials agreed to observe the risks of the coronavirus outbreak and adopt policies to limit its global… – Continue reading
The Automatic Exchange of Information recovers a whopping amount of Rs1.8 billion for Pakistan. ... - Continue reading
Turkey stays on the European Union's blacklist since 2017. ... - Continue reading
Amendments to transfer pricing laws have been disclosed on 11 February 2020. ... - Continue reading
More efforts to be expected from OECD concerning tax matters. ... - Continue reading
Facebook founder and CEO Mark Zuckerberg on Friday endorsed moves from the OECD set of free-market markets to reform how online giants have been taxed globally, even if this means firms like his spending more to federal governments. “We also need tax reform and I am thankful the OECD is… – Continue reading
The OECD Secretariat proposed the Unified Approach in October 2019 to address the tax challenges arising from the digitalization of the economy. ... - Continue reading
The Swedish tax agency has adjusted the taxable income for the PUMA Group’s Swedish distributor, Puma Nordic AB, concluding that, for transfer pricing purposes, the Swedish distributor could not control the main risks in the Puma Group and therefore should not have carried the local market risks. The adjustment, made… – Continue reading
Barbados has introduced new economic substance requirements that effectively brings down the so-called ‘ring fence' that kept two separate tax rates for local and international business companies. ... - Continue reading
The US Internal Revenue Service (IRS) has said it will consider certain circumstances in which it could provide relief from double taxation resulting from application of the repatriation tax, as amended by the Tax Cuts and Jobs Act (TCJA) 2018. ... - Continue reading
An OECD-led group of 137 countries that work together on multinational group tax issues has released a consultation document and has requested public feedback to assist in a planned review of country-by-country reporting. The countries, known as the “Inclusive Framework on BEPS,” also scheduled a public consultation on the topic for March 17.... - Continue reading
Puerto Rico has amended its income tax rules to allow taxpayers to fully deduct intercompany expenses if taxpayers file a transfer pricing study with their income tax return, due April 15, 2020, if not extended. ... - Continue reading
The Polish state think-tank reveals a loss of 170 million euros for European Union member states due to tax dodging. ... - Continue reading
In a tax conference, OECD has discussed about the Unified Approach in order to tax digital giants more efficiently. ... - Continue reading
Businesses are being required to be more transparent for the sake of tax efficiency and reform. ... - Continue reading
The Australian Taxation Office releases data on the top 10 corporate taxpayers in Australia. ... - Continue reading
More measures against tax evasion. ... - Continue reading
Can a fortnight provide a solution for the tax dispute between the USA and France? This should be made aware in the days to come, but right now let's find out the details to this situation. ... - Continue reading
The organisation for economic co-operation and development is keeping its focus on the taxation of digital world. ... - Continue reading
Search engine giant’s settlement brings to A$1.25bn the amount collected from ecommerce players ... - Continue reading
Final tax laws published. ... - Continue reading
The EU has approved a plan to impose financial sanctions on countries or jurisdictions on the bloc's tax haven blacklist by the end of 2020. ... - Continue reading
Of 2,214 entities covered by the Australian Taxation Office (ATO) data for 2017-18, 710 did not pay any tax. ... - Continue reading
The Canada Revenue Agency (CRA) has sent the financial records of 900,000 dual citizens and Canadian residents to the U.S. Internal Revenue Service (IRS) for the 2018 year, according a recent news story. ... - Continue reading
When World Trade Organisation (WTO) officials designed the territorial taxing rights back in the 1920s, not many people imagined that a century later; these guidelines would still underpin the international tax system. Today, highly digitalised companies such as Facebook and Google are able to operate internationally from their tax havens,… – Continue reading
An exploration into the drawbacks to the very glossy 'Golden Visa Schemes' ... - Continue reading
Pakistan gives warning over transparency to UAE ... - Continue reading
A policy proposal presented by the Danish government last week calls for a wider scope in the operative definition of tax avoidance and tax evasion. ... - Continue reading
The Global Reporting Initiative has issued a new international tax reporting standard that aims to ensure multinational companies are much clearer about how much they pay in taxes, and where. While the standard has no legal force, it could influence the ongoing debate in the U.S. and abroad on how… – Continue reading
A report released by the Internal Revenue Service (IRS) has put quite some focus on Bitcoin’s scope for committing tax evasion ... - Continue reading
Instant additions to EU's blacklist? ... - Continue reading
The aim is to bring the system “into the 21st century” by imposing a 3% levy on tech giants such as Amazon, but first a government must be formed Spain will press ahead with the creation of a tax on certain digital services as soon as a government is formed,… – Continue reading
The Internal Revenue Service has a message for tax criminals: "We will not stop in our pursuit." ... - Continue reading
OECD has recently announced new proposals to help countries tax corporate incomes more effectively. ... - Continue reading
HMRC under an overload of information. ... - Continue reading
An insight into the world of "cryptocurrencies" ... - Continue reading
OECD announces "unprecedented success" in the fight against tax evasion. ... - Continue reading
Proposal would have forced firms to reveal profits made and taxes paid in each EU country ... - Continue reading
India's position with respect to Permanent Establishment ... - Continue reading
12.6% of the global profit of 134 Spanish multinationals fetches 91.85 billion euros. ... - Continue reading
EU governments will vote on Thursday on a new rule that would require multinational companies to reveal how much profit they make and how little tax they pay in the bloc’s countries, the Guardian reported. The aim is to expose how large companies, with an annual turnover of more than… – Continue reading
The ongoing national efforts to strengthen the country’s bilateral tax treaties have received a boost with the signing of a multilateral convention to end tax avoidance in France. ... - Continue reading
EU removes UAE, Switzerland from tax haven lists Share this storyEU removes UAE, Switzerland from tax haven lists LUXEMBOURG — European Union finance ministers agreed to remove the United Arab Emirates (UAE) and Switzerland from the bloc’s lists of countries deemed to be acting as tax havens, according to a… – Continue reading
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. ... - Continue reading
A proposal by the Organisation for Economic Cooperation and Development that effectively seeks to establish a global minimum rate of corporate taxation ignores that Cayman’s tax neutral status is not harmful and is a viable alternative for eliminating double taxation and tax conflicts, says Jude Scott, the chief executive of… – Continue reading