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ECOFIN Removes Dominica From EU Non-Cooperative List
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June 20th, 2019
The Economic and Financial Affairs (ECOFIN) Council decided to further amend the non-cooperative list by removing Dominica from the list.
Current Non-Cooperative Jurisdiction List
Ten EU States Considering German Plan For .2% Tax On Purchases Stock In EU Headquartered Companies
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June 18th, 2019
Financial transaction tax initiated by the German government was under siege, until the European Union finance ministers recently confirmed that the proposal close to be agreed as the minister has discussed the issue on the implementation of 0.2% tax on shares.
Background .
Newly Signed Brazil-Uruguay Tax Treaty Includes Anti-Abuse Rule
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June 18th, 2019
Brazill and Uruguay have included provisions to tackle base erosion and profit shifting in a new Double Tax Convention (DTC), signed on June 7, 2019. The new agreement incorporates the minimum standards developed by the OECD on BEPS , includes specific provisions that are intended to combat tax evasion and prevent abuse of the agreement.
South Africa Amends The Taxation Law To Address Dividend Stripping Scheme
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June 13th, 2019
The National treasury of Republic of South Africa published an initial batch of the 2019 draft Taxation Laws Amendment Bill for public comment to cover specific provisions that require additional consultation. The prominent point of the amendment is about the measure taken by South African to address the abusive arrangement on dividend arrangement.
Protocol Signed To Amend The Tax Treaty Between The Netherlands And Switzerland
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June 13th, 2019
The Netherlands has signed a protocol to amend the old tax treaty between the Netherlands and Switzerland. New agreements have been made against tax avoidance.
The Netherlands Establishes Expert Commission To Examine How To Make Multinational Taxation More Fair
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June 13th, 2019
The Dutch government issued an inquiry on how to make multinationals pay their fair share of tax, after public criticism that the government reforms do not go far enough. The government plans to establish an expert commission to examine such cases.
Australia Publishes Joint Administrative Approach With New Zealand On Tie Breaker Rule
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June 11th, 2019
The Australian Taxation Office (ATO) has announced the publication of a joint administrative approach with New Zealand Inland Revenue (IR) on the application of the new treaty tie-breaker rule for non-individual taxpayers introduced by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ("Multilateral Instrument" or "MLI") that will swiftly implement a series of tax treaty measures to update international tax rules and lessen the opportunity for tax avoidance by multinational enterprises.
The administrative approach of Australia and New Zealand’s MLI .
Dutch Supreme Court Rules Non-Continuation Requirement in Liquidation Loss Scheme
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June 11th, 2019
The Dutch Supreme Court ruled on the assessment procedure on non-continuation in liquidation loss schemes. The judge was of the opinion that the affiliation of the continuing company should be assessed when the liquidation is completed.
Finnish Government Introduces Tax Avoidance Measures In Its Tax Plan
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June 6th, 2019
Finland's newly formed center-left government is reportedly planning a number of tax measures to raise an addition EUR 730 million in tax revenue to fund increased spending. The government is also studying possible measures to reduce international tax planning and avoidance, broaden the corporate tax base, and tax dividends and real estate gains of foreign funds and other exempt entities.
IRS investigates The Transfer Pricing Position Of US Ride-Hailing Company
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June 6th, 2019
Uber Technologies Inc. is being examined by U.S. tax authorities and said that its potential tax charges in a number of key markets could change. The ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million.
European Commission Asks Harmful Member States To Change Tax Practices
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June 6th, 2019
The European Commission has asked the potentially tax aggressive countries such as Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta, and the Netherlands to address features of their tax system that may facilitate aggressive tax planning. The request was followed a recommendation report to change tax practices.
India - Government Tax Update
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June 6th, 2019
Herewith we provide you with the latest tax updates of the Indian Government:
Amendment in form no. 15H in notification no. 41/2019
US Tech Giant Lobbied Ireland To Use Digital Tax As Tax Credit Against Irish Profit
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June 4th, 2019
Facebook Inc. Senior Executives have conveyed their opinion to Ireland’s minister of finance in January about the possibility of offsetting proposed EU digital services taxes against the company’s Irish corporate tax liability.
Background .
OECD Releases Workplan On New Rules For Taxing Digital Multinational Enterprises
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June 4th, 2019
The Organization for Economic Co-operation and Development (OECD) released its document Program of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalization of the Economy.
Following a Policy Note released in January 2019, the Inclusive Framework has continued to develop the proposals presented earlier under the two Pillars used to organize the ongoing work.
Tax Justice Network Reveals New Ranking Of Corporate Tax Havens Behind Breakdown Of Global Corporate Tax System
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May 31st, 2019
Noting the report published by IMF, forty per cent of today’s cross-border direct investments, which are around $18 trillion in value, are being booked in just 10 countries that offer corporate tax rates of 3 per cent or less. In this regard, Tax Justice Network (TJN) published the Corporate Tax Haven Index to identify which countries most responsible for the breakdown of the global corporate tax system.
Cyprus Drafting Legislation for New Transfer Pricing Regime
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May 31st, 2019
The Cypriotic Ministry of Finance is reportedly finalizing draft legislation for the introduction of a new transfer pricing regime. The regime is to be in line with the latest OECD transfer pricing guidelines.
Argentina Modifies Transfer Pricing Regime
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May 31st, 2019
Argentina’s Federal Administration of Public Revenues published General Resolution 4496/19, which established changes to Argentina’s transfer pricing requirements. One of the purposes of the regulation is harmonizing the filing deadlines for various transfer pricing return obligations.
VAT Technology Solutions - Do you feel that you can do more with VAT data?
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May 29th, 2019
One of TPA’s technology partners Cygnet Infotech has developed a comprehensive VAT solution named R7VAT MTD, which is amongst others recently approved by HMRC for use by companies in the UK to automate and manage their VAT returns filing process but can also be used broadly within the EU.
R7VAT MTD helps in end-to-end automation of the VAT process from extraction of data from source systems to preparation and submission of VAT returns.
Ireland To Open To International Tax Changes
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May 28th, 2019
The Ministry of Finance of Ireland, Paschal Donohoe suggests that Ireland should consider a broader concept of how companies are taxed in the modern digitalized world, setting out his country’s stall in a debate that is key to its economy.
Ireland’s Reform Agenda .
Argentina Publishes New Dividend Withholding Tax Rules
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May 28th, 2019
Argentina has implemented new rules for withholding tax on dividends. The tax applies to dividend payments made to both resident individuals and nonresidents (whether legal entities or individuals).
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