Tax Fairness Should be a Core Principle in Corporate Sustainability Strategies
As governments look for ways to recoup pandemic spending, tax transparency takes on a new level of significance. ... - Continue reading
Category: Multinationals
Canada: Taxpayers Must Pay Interest On Non-Existent Tax Debts
Following a transfer pricing audit, the Bank of Nova Scotia (BNS) entered into a settlement with the CRA on March 13, 2015, whereby certain amounts would be included in its income for the 2006 to 2014 taxation years. ... - Continue reading
Austria updates transfer pricing guidelines
An update on Austrian transfer pricing rules was made on the 7th October 2021. Details are here. ... - Continue reading
Frydenberg welcomes historic OECD tax agreement
More than 130 countries agreed on Friday to rolling out historic changes to international tax rules, after leaders agreed to a new global minimum tax rate of 15 per cent targeted at companies with annual revenue of more than 750 million euros. ... - Continue reading
Enhanced transfer pricing regime amidst the pandemic
Globally, the coronavirus disease 2019 (Covid-19) pandemic is requiring governments to design and implement strategies to cope with the deepening impact of the virus. They are introducing measures to cushion the blow from the economic downturn, such as drawing from reserves and intensifying tax collection efforts. As entire countries and… – Continue reading
HMRC targets wealthy in push on tax evasion
Wealthy people are increasingly facing investigation for suspected tax evasion, in a sign that HM Revenue & Customs is “keeping its promise” to intensify its crackdown on those hiding assets following the Panama Papers leak. ... - Continue reading
The Netherlands’ new DAC6 requirements: what multinationals need to know
Multinationals with European Union operations need to be aware of the DAC6 reporting obligations, especially since there are situations in which multinationals will be required to report cross-border arrangements with local tax authorities. ... - Continue reading
Voices CARES Act offers overlooked opportunities for tax refunds, but first check cross-border prices
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, U.S. corporations can now elect to carryback losses incurred in 2020 for a five-year period (2015 to 2019). While losses incurred in 2018 and 2019 can also be carried back five years, this article addresses 2020 current year opportunities. The… – Continue reading
US, Curacao agree to exchange country-by-country tax reports on large multinational groups
The United States and Curacao have joined hands to better counteract tax avoidance on the behalf of multinationals. ... - Continue reading
Countries still can’t agree on update to multinational group taxation rules, OECD official says
The 137 member countries of the “Inclusive Framework on BEPS” are having a disaccord regarding a legislation for multinationals. ... - Continue reading
Seoul to implement convention on MNCs’ tax avoidance in Sept.
Seoul signs multilateral convention to counter tax avoidance. ... - Continue reading
OECD officials note disagreement over digital tax update, reveal plans for tax and transfer pricing guidance
Disagreement registered around the 'Pillar One' of the OECD. ... - Continue reading
Finland transfer pricing rules analyzed in landmark court rulings
This article focuses on two tax cases revolving around transfer pricing and their respective treatments. ... - Continue reading
First Look: US IRS publishes final and proposed regulations on hybrid mismatches
On the 8th of April 2020, the Internal Revenue Service (IRS) presented its laws on hybrid arrangements, which would strengthen its efforts against tax avoidance by multinationals. ... - Continue reading
Poland issues controversial transfer pricing risk assessment rules
New transfer pricing laws issued in Poland might not be too pleasant to multinationals' ears. Read on to know more. ... - Continue reading
OECD releases 79 public comments responding to review of country-by-country reporting scheme
Is a public country-by-country reporting of multinationals' tax information to be expected soon? ... - Continue reading
Countries launch review of country-by-country reporting framework for multinational groups
An OECD-led group of 137 countries that work together on multinational group tax issues has released a consultation document and has requested public feedback to assist in a planned review of country-by-country reporting. The countries, known as the “Inclusive Framework on BEPS,” also scheduled a public consultation on the topic for March 17.... - Continue reading
Tax transparency essential to tackle $600bn avoidance bill
Businesses are being required to be more transparent for the sake of tax efficiency and reform. ... - Continue reading
