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Are You BEPS Proof? BEPS 2018 Readiness Test and Report in One Week
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January 17th, 2018
Today tax executives are feeling the heat due to enduring pressure to improve efficiency, grow revenue and ensure control. Increasing tax regulatory requirements are making “being in control” even more challenging.
Slovakia Plans To Tax Digital Platform And Cryptocurrencies Like Bitcoin
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January 16th, 2018
Earlier this month, Peter Kažimír, the Finance Minister in Slovakia announced that the Income Tax Act has been amended to cover digital platforms such as Airbnb, Booking.com and Uber. He also indicates the plan to draft a proposal on taxation of cryptocurrencies, such as bitcoin.
Australia Identifies Over 1000 Taxpayers Based On Paradise Papers
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January 16th, 2018
Since last November when the Paradise Papers were released, the information leak has enabled Australia Taxation Office (ATO) to identify 1075 taxpayers in total during the past two months, with 731 individual taxpayers and 344 corporate entities respectively.
Commoditization of Tax Avoidance Practice for Individuals .
China - “One-Stop” Outbound Investment Service to Europe
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January 16th, 2018
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
Headquartered in Amsterdam, the Netherlands, TPA Global is committed to providing one-stop investment service to Chinese outbound enterprises in Europe.
Tax Treaty Between Cyprus And Saudi Arabia Signed
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January 12th, 2018
The Convention for the avoidance of double taxation with respect to taxes on income and for the prevention of tax evasion between the Republic of Cyprus and the Kingdom of Saudi Arabia was signed in Riyadh. The Convention was signed during the official visit of the President of the Republic of Cyprus to Saudi Arabia.
UK Recovers £137m Tax From Tech Giant
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January 12th, 2018
Apple Europe, the wholly-owned subsidiary of Apple in the UK, announced that an agreement has been reached with Her Majesty's Revenue and Customs (HMRC) after the long auditing and negotiation. Under the agreement, Apple accepts the tax adjustment and will recover extra tax of £137 million to the HMRC.
Pakistan Is To Exchange Tax Info With Switzerland
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January 12th, 2018
The Senate Standing Committee on Finance in Pakistan was notified that the country is starting to exchange tax information with Switzerland in January 2018. The process will be carried out under Art.
CFO’s Roadmap | Step 2: Global Tax Compliance (CIT, VAT, MF, CbC)
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January 12th, 2018
The second step in the journey to be fully in control is the implementation of a global tax compliance approach. After running your financial ratio analysis and selecting the data to be reported for tax purposes, it is also equally important to actually document it in an efficient and compliant manner.
How To Deal With PE Risks In Practice? - A 5-step Approach
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January 11th, 2018
In an attempt to close the loopholes of the existing PE definition through BEPS Action 7, the OECD has, inadvertently, also lowered the threshold for the classification of the local business activities of a foreign enterprise as a PE of such enterprise. It has, in turn, opened the road for many governments to adopt diverse interpretations of Article 7 to attribute additional profit to the local operations of foreign enterprises.
China’s State Administration of Taxation (SAT) issued Bulletin 46 on Clarifying Country-by-Country Reporting Related Issues and Subsequent Interpretation
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January 11th, 2018
The Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Convention) has been launched officially in China since January 1, 2017. In order to ensure appropriate cohesion between the Convention and Bulletin 42 (*) issued by the SAT in 2016, on 19 December 2017, the SAT issued Bulletin 46 to clarify that Article 7 and Article 8 stipulated in Bulletin 42 will not be applicable to the fiscal year (FY) 2016 Country-by-Country report (CbCR).
SAT Clarifies Details And Procedural Requirements To Exempt Foreign Investment Return From Withholding Tax
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January 10th, 2018
The State Administration of Taxation (SAT) issued an announcement (SAT [2018] No.3) clarifying the executive issues on the Circular (Cai Shui [2017] No.
US Disputes Guam & American Samoa To Be Included In The EU Blacklist
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January 10th, 2018
The US Treasury Secretary Steven Mnuchin has recently sent a letter to the EU Secretary General Jeppe Tranholm-Mikkelsen. In the document, the US presents its position in the BEPS project and Global Forum, as well as expressing its counterview on the EU Blacklist of Non-Cooperative Jurisdictions for tax purpose released by the European Council on December 5, 2017.
France Comforts Ireland About The Worries On Its Digital Tax Proposal
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January 10th, 2018
The French President Emmanuel Macron re-affirmed the willing to establish a pan-European tax scheme on digital economy during his New Year's press conference. He also indicated that interests of smaller countries like Ireland, Malta, and Luxembourg are not to be impeded if US tech giants such as Google and Apple are taxed on the Union level.
Australia Consults Public On Diverted Profit Tax Draft Law Companion Guideline
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January 4th, 2018
The Australian Taxation Office (ATO) issued a notice to consult the public on a draft Law Companion Guideline (LCG) on the Australian diverted profits tax. The draft LCG explains how the new law will apply and explains concepts introduced by the measure.
SAT Clarification On Credit Policies On Enterprise Income Tax Outside China
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January 4th, 2018
The State Administration of Taxation (SAT) and the Ministry of Finance jointly issued an announcement (Cai Shui [2017] No. 84) clarifying the credit policies on the enterprise income tax paid outside China.
EU - New Rules To Prevent Tax Evasion And Money Laundering Enter Into Force
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January 4th, 2018
On January 1, 2018, the new amended rules regarding anti-tax evasion and anti-money laundering came into effect, which obliges Member States to give tax authorities access to data collected under anti-money laundering legislation. The new rules welcomed by the EU Commission are enshrined in the Directive on Administrative Cooperation (Directive 2011/16/EU).
India Signs Three More Advanced Transfer Pricing Agreements
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January 2nd, 2018
During 2017 December, the Central Board of Direct Taxes (CBDT) in India has entered into three more Advance Pricing Agreements (APAs). Up to date, the number of APA entered into force by the CBDT reaches 189, with 173 Unilateral APAs and 16 Bilateral APAs.
Hong Kong Implements BEPS Package To Tackle Tax Avoidance
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January 2nd, 2018
On December 29, 2017, the Inland Revenue (Amendment) (No. 6) Bill 2017 (Amendment Bill) was published in the Official Gazette.
CFO’s Roadmap - Step 1: Robust synchronization of financial data analytics
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January 2nd, 2018
The first step to being fully in control is obtaining control over your financials and ensuring that they are fully aligned with your operational conduct. This is absolutely essential in the current tax arena as availability of information via CbC reporting and automatic exchange of such information mandates companies to be extremely careful in their selection of reported data.
Italy Is To Open Web Tax Of 3% On Digital Service
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December 21st, 2017
The Budget Commission of Italy’s lower house approved the “web tax” measure. Under this proposal, companies are obliged to pay a 3 percent levy on certain online transactions.
New Zealand Issues Tax System Comparison Report And Sets Up Tax Working Group
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December 21st, 2017
The Inland Revenue (IRD) in New Zealand released the report on the New Zealand tax system and how it compares internationally. On the same day, the IRD also announced members to join Sir Michael Cullen on the Tax Working Group.
EU Revises Anti-Money Laundering Directive By Improving Transparency
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December 21st, 2017
The presidency and the European Parliament reached a political agreement on strengthening EU rules to prevent money laundering and terrorist financing. By amending Directive 2015/849, the revised transparency rules are expected to shed light on the large-scale concealment of funds without hindering the normal functioning of financial markets and payment systems.
US Conference Committee Issues Unified Tax Reform Bill
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December 19th, 2017
Members of the Tax Cuts and Jobs Act (H.R. 1) House-Senate Conference Committee signed the conference report for this legislation. The bill is now moving forward to be voted on 19th or 20th by the entire House of Representatives and Senate.
EU Has Concerns over Dutch Tax Ruling to IKEA as State Aid
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December 19th, 2017
The European Commission announced to open an in-depth investigation into the tax treatment of IKEA in Netherlands. The investigation concerns two Dutch tax rulings granted to Inter IKEA in 2006 and 2011 respectively.
PANA: Debate And Vote On The Final Report
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December 16th, 2017
The PANA committee held a debate on the regulation of financial intermediaries, protection of whistle-blowers and a single definition of tax havens. Subsequently, a final vote on the recommendation of the PANA Committee was held on December 13 in Strasbourg.
Ukraine: Roadmap On Tax Transparency Standard And Information Exchange
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December 16th, 2017
The Ukrainian Ministry of Finance presented a Roadmap, with which the country commits to implement international standards of transparency and exchange of information, “Tax transparency: EOIR / AEOI CRS”, in Ukraine.
Assessment .
EU Announces Oncoming Legislative Priority
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December 16th, 2017
On December 12, 2017, the European Council approved the EU's legislative priorities for 2018-2019, and initiatives listed in the declaration have been agreed by the European Parliament and the Commission. Substantial progress and agreement on these legislative initiatives are expected to be achieved before the 2019 European elections.
Mapping The Trends In MAP Resolution Of Tax Treaty Disputes After BEPS
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December 13th, 2017
A presentation on the improvements BEPS has made to the resolution of international tax disputes through the Mutual Agreement Procedure (MAP) under tax treaties.
The traditional failures of the MAP procedure are all too well known.
More BEPS Measures By New Zealand On Transfer Pricing Audit (2)
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December 12th, 2017
The recently introduced BEPS Tax Bill has been submitted to the Parliament for its first reading. Alongside the Tax Bill, the country has also launched other measures to deal with taxation of multinationals, including transfer pricing audit on specific group of companies.
EU Warns US Tax Reform May Lead To Barriers To International Trade
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December 12th, 2017
Recently, a warning letter to Steven Mnuchin, the US Treasury Secretary, from the EU is showing worrisome signs. The letter was sent jointly by financial ministers in the UK, France, Germany, Spain and Italy.
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CFO's Journey From 'Staying Out Of Trouble' To Being 'Fully In Control'

TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):

Roadmap for CFO's

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