Please read our, INTERNATIONAL - Further OECD guidance on Country-by-Country Reporting, AUSTRALIA - Australian High Court clarifies meaning of “associate” and “sufficiently influenced” for, CANADA - Canadian government’s response to international income tax issues raised by COVID-19, THE EUROPEAN UNION - Exchange of information: DAC6 – The time to act is now, JAPAN - New “Open innovation tax incentive”, KOREA - Transfer pricing: Introduction of low value-adding intra-group services in 2020, MALAYSIA - Malaysian tax enforcement in 2020 - Updates, SPAIN - Measures to mitigate COVID-19 impact on arts, culture and sports, SRI LANKA - Land of promising tax-friendly investment returns, INDIA - Taxing the digital economy: Indian Equalisation Levy 2.0, UNITED KINGDOM - Notification of uncertain tax treatment by large businesses, UNITED STATES - President Trump signs into law CARES Act, Taxation of the digital economy and pushing fiscal boundaries, BAHRAIN - Bahrain National Bureau for Revenue (NBR) has published two new VAT Guides on its website, CANADA - Proposed British Columbia “Netflix Tax” deferred, CZECH REPUBLIC - The general reverse-charge is being postponed. Legislation has been introduced across the EU requiring companies operating in the extractive sector to publish country-by-country data. The OECD has released additional interpretative guidance to tax administrations and MNE Groups on the implementation and operation of Country-by-Country (CbC) Reporting (BEPS Action 13), to give greater certainty on this area. With the OECD average at 31.6 percent of total tax share from top earners, the U.S. income tax is roughly as progressive as income taxes in Italy, Ireland, Canada, Australia, the Netherlands, and New Zealand. Transfer Pricing News. The OECD/G20 base erosion and profit shifting (BEPS) project has been one of the most significant overhauls in the history of international taxation, with 135 jurisdictions collaborating to tackle tax avoidance strategies by multinationals that exploit gaps and mismatches in the international tax rules. Requirements will include data on the following: The EU Accounting Directive (Chapter 10) will apply to public interest entities in the EU and large private extractives. Most recently, she was a reporter for the International Fiscal Association’s 73rd Congress in London in 2019. There is always pressure to generate revenue by Goverment and this may inform the…, Hi George. Such a concentration of holding companies in investment hubs may relate to genuine commercial arrangements, but it is also a risk assessment factor and could be evidence of certain tax planning structures. Australia {{vm.newUser1}} Anton Hume and Andrew Stewart of BDO in the United Kingdom authored “The transfer pricing of financing transactions: OECD guidance”, published by Tax Journal on 15 November 2019.