Category: Multinationals

Covid-19 / Multinationals / Offshore / Tax Relief / USA

Voices CARES Act offers overlooked opportunities for tax refunds, but first check cross-border prices

Posted On: June 16, 2020

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, U.S. corporations can now elect to carryback losses incurred in 2020 for a five-year period (2015 to 2019). While losses incurred in 2018 and 2019 can also be carried back five years, this article addresses 2020 current year opportunities. The… – Continue reading

Framework / G20 / Lease / Multinationals / OECD / Permanent establishment / Revenue / Transfer pricing

Countries launch review of country-by-country reporting framework for multinational groups

Published by: MNE Tax - February 9, 2020

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.
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Base Erosion & Profit Shifting / Business / Corporate Tax / Country-by-Country (CbyC) Reporting / Framework / Multinationals / OECD / Revenue / Tax Avoidance / USA

GRI issues international corporate tax reporting standard

Posted On: December 9, 2019

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

Australia / Australian Taxation Office / Business / Multinationals / Tax Avoidance

Australians owe record levels of tax: commissioner

Posted On: October 24, 2019

Australians are avoiding their tax responsibilities in record numbers. The Australian Taxation Office (ATO) announced at a Senates Estimates hearing that the debt owed by Australians to the tax man has recently hit 45 billion Australian dollars (31 billion U.S. dollars), a record figure, according to the Australian Broadcasting Corporation… – Continue reading

Belgium / EU / European Commission / Exemptions / Multinationals / State Aid / Tax Treaty Abuse

EU Commission to investigate 39 Belgium “excess profit” tax rulings for potential State aid violations

Published by: MNE Tax - September 16, 2019

The European Commission today announced that it has opened 39 in-depth investigations to assess whether Belgian “excess profit” tax rulings granted to multinationals between 2005 and 2014 provided benefits that are contrary to EU State aid rules. ... - Continue reading

Base Erosion & Profit Shifting / Country-by-Country (CbyC) Reporting / Framework / Jurisdiction / Multinationals / OECD / Tax Transparency

OECD sees progress in 116 nations’ implementation of country-by-country reporting

Posted On: September 10, 2019

The OECD said its initiative to have minimum standards on the collection and exchange of country-by-country (CbC) reports on large multinational businesses has reached 116 jurisdictions and has shown major progress in the delivery of international tax transparency. The OECD’s second annual peer review report on the base erosion and… – Continue reading

Advance Pricing Agreement / Australia / Debt / Interest / Lease / Multinationals / Transfer pricing

Australia provides arm’s length debt test guidance

Published by: MNE Tax - September 3, 2019

The Australian Tax Office on 28 August, released its awaited draft guidance contained in Practical Compliance Guideline 2019/D3, on applying the arm’s length debt test contained in Division 820 of the Income Tax Assessment Act 1997, Australia’s thin capitalization statutory provisions.   ... - Continue reading

Base Erosion & Profit Shifting / Double Taxation Agreement / Multinationals / New Zealand / OECD / Switzerland / Tax Avoidance / Tax Dodging / Tax treaties / Withholding Tax

New Zealand-Swiss tax agreement tightens net on avoidance

Posted On: August 8, 2019

WELLINGTON, Aug. 8 (Xinhua) — Opportunities to dodge tax are shrinking with the completion of a new tax agreement between New Zealand and Switzerland, New Zealand’s Revenue Minister Stuart Nash said on Thursday. Nash and Swiss Ambassador to New Zealand David Vogelsanger signed documents to update the Double Tax Agreement… – Continue reading

Bermuda / British Virgin Islands / Cayman Islands / Corporate Tax / Jurisdiction / London / Multinationals / Tax Avoidance / Tax Evasion / Tax Fraud / Tax Haven / Tax Transparency / United Kingdom / Whistleblower

Experts convene in the City of London to call out ‘pin stripe mafia enablers of tax abuse’

Posted On: July 3, 2019

Researchers and campaigners from around the world have been presenting radical solutions on tackling tax abuse and financial crime at the Tax Justice Network’s annual conference held in the heart of London’s finance centre, on 2 – 3 July 2019. With over 200 attendees including prominent politicians, whistleblowers and economists,… – Continue reading

Bangladesh / Business / Multinationals / Offshore / Tax Authority / Tax Evasion / Tax Laws / Transfer pricing

NBR building up profiles of MNCs

Posted On: June 4, 2019

National Board of Revenue is building up profiles of the multinational companies operating in the country for the purpose of conducting audits on the MNCs’ accounts to prevent tax evasion through misuse of transfer pricing system. Transfer Pricing Cell (TPC) of NBR is also conducting risk assessment of the companies’… – Continue reading

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