Category: OECD

Advance Pricing Agreement / Automatic Exchange of Information / Beneficial Ownership / Cyprus / G20 / OECD / Profit Shifting / Regulatory / Tax Avoidance / Tax Laws / Tax Planning / Tax Transparency / Tax treaties / Transfer pricing

Cyprus: European Mandatory Disclosure Regime (EU MDR) – A New Reality For Cypriot Intermediaries, Another Burden On Cypriot Taxpayers?

Published by: Mondaq - October 12, 2020

Mandatory disclosure rules are not something new for European Member States ("EU MS"). In fact, with the United Kingdom leading the race (from 2004), Ireland (in 2008) and then Portugal (in 2011) were the first -and only- EU MS to introduce mandatory disclosure rules in their local legislation. ... - Continue reading

Business / Jurisdiction / Multinationals / OECD / Philippines / Profit Shifting / Related party Transactions / Tax Collection / Transfer pricing

Enhanced transfer pricing regime amidst the pandemic

Posted On: August 31, 2020

Globally, the coronavirus disease 2019 (Covid-19) pandemic is requiring governments to design and implement strategies to cope with the deepening impact of the virus. They are introducing measures to cushion the blow from the economic downturn, such as drawing from reserves and intensifying tax collection efforts. As entire countries and… – Continue reading

Business / Cyprus / Double Tax Treaty / Double Taxation / Mutual Agreement Procedure / OECD / Permanent establishment / Profit Shifting

Cyprus: Cyprus And Switzerland Agree Updated Double Tax Treaty

Published by: Mondaq - August 17, 2020

On 20 July 2020 Cyprus agreed an updated double tax treaty (DTT) with Switzerland. The signatory for Cyprus was Foreign Minister Constantinos Petrides, while his counterpart, Pierre-Yves Fux, signed on behalf of the Swiss Federal Council. The revised protocol will update the existing agreement, which has been in force since July 2014. Details of the protocol were published in the Official Gazette on the 24 July 2020 and are now undergoing the ratification process. ... - Continue reading

Canada Revenue Agency / Capital gains / Double Taxation / Exemptions / G7 / Government Bodies / Interest / Lease / OECD / Tax Credit / Tax Planning

Canada: Don’t Let Your Dream Vacation Home Become A Tax Nightmare

Published by: Mondaq - July 29, 2020

Renting your foreign property may require you to disclose information to the Canada Revenue Agency (the "CRA"). A Foreign Income Verification Statement is required to be filed with the CRA where the adjusted cost base of the property exceeds CDN $100,000.  ... - Continue reading

Automatic Exchange of Information / Common Reporting Standard / Interest / Lease / OECD / Tax Evasion / Tax Fraud

OECD publishes model rules for tax reporting by gig economy platform operators

Published by: MNE Tax - July 8, 2020

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

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