Latest News

International Tax News

Get the latest international tax news here or check out our news for various countries. Thanks for visiting us. EU Adds Cayman Isles, Panama, Seychelles To Tax Blacklist

The EU has added the Cayman Islands, Palau, Panama, and the Seychelles to its list of non-cooperative tax jurisdictions, bringing the total tally to 12 from 8. EU Green Lights E-Commerce Transaction Reporting Rules

The European Council has approved new rules for the exchange of VAT payment data relating to cross-border e-commerce transactions. OECD Proposes Harmonized Gig Economy Reporting Rules

The OECD on February 19, 2020, released a proposal for a framework for sharing and gig economy platforms to report the activities of their users. UK Should Keep A Closer Eye On Tax Breaks: NAO Report

The UK's National Audit Office has called for a more comprehensive review of the 1,190 tax relief measures available for taxpayers, which are estimated to have cost the UK revenues worth GBP155bn (USD201.7bn) in 2018-19. European Parliament Seeks Aligned EU-UK Rules

Members of the European Parliament want the EU and UK to reach an ambitious new free trade agreement, but have stressed that there must be a "level playing field." Nigeria To Tackle Profit Shifting By Multinationals

Nigeria's Federal Inland Revenue Service is comprehensively reform its operations to tackle "illicit profit shifting" by multinational companies operating in Nigeria. OECD Provides Update To G20 On BEPS Work

In a new report for G20 ministers, the OECD has provided an update on its work to tackle tax base erosion and profit shifting relating to multinational businesses. IMF Recommends Tax Reforms For Malta

The IMF has said that Malta should look for ways to diversify its tax base and strengthen tax revenues. Malta Told To Amend VAT Rules For Yacht Leasing

The European Commission has again asked Malta to amend its method for calculating VAT on yacht leasing. Democrat Bill Targets GILTI High-Tax Exclusion

Democrats in the United States Senate have introduced a bill that would block proposals to introduce a "high-tax exemption" to the Global Intangible Low-Tax Income regime. OECD Says Digital Tax Plans Will Boost Most States' Revenues

During a February 13, 2020, webcast, the OECD presented economic analysis on the potential impact of what it has proposed on international tax reform to address the digitalization of the economy. France Confirms Postponement Of DST Payments

France's Directorate General of Public Finance confirmed in a statement issued on February 10, 2020, that companies liable for the country's digital services tax can delay payment of upcoming installments of the tax until December 2020. Australia Announces CbC Reporting Changes

The Australian Taxation Office has announced changes to its CbC reporting system following feedback from multinational groups. Germany Urged To Ensure Data Sharing On Call-Off Stock Arrangements

Germany's IT systems are not ready for the VAT "quick fix" simplifications that entered into force on January 1, 2020, according to the European Commission. OECD Release Landmark TP Guidance On Financial Transactions

The OECD has released a report providing transfer pricing guidance on financial transactions, as part of its follow-up work on tackling tax base erosion and profit shifting, under Actions 4, 8, 9, and 10 of the BEPS Action Plan. Indonesia Tables Legislation For Comprehensive Tax Reform

Indonesia has reportedly tabled draft legislation in the House of Representatives to make wide-ranging changes to the tax system, including lowering the corporate tax rate and modernizing rules for digital economy players. Hungary Proposes Improved R And D Tax Reliefs

The Hungarian Ministry of Finance announced that the Government is considering further tax cuts for businesses, including improvements to the deductions available for research and development spending, following a meeting of the National Competitiveness Council. Italy Launches Consultation On Patent Box Rules

On February 10, 2020, the Italian tax agency commenced a short consultation on the rules surrounding the patent box self-assessment regime. Turkey Issues Draft Guidance On Digital Services Tax

The Turkish tax authority has published a draft communique on the application of the digital sales tax, which is set to come into effect on March 1, 2020. Ireland Updates Guidance On EU Exit Tax On IP Flight

The Irish Revenue has updated its guidance on Irish exit tax legislation to reflect changes introduced by Finance Act 2019.

Any questions ? Feel free to contact us.