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Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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."

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: Australia Announces CbC Reporting Changes

The Australian Taxation Office has announced changes to its CbC reporting system following feedback from multinational groups.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

Tax-News.com: 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.

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