Tax-News.com: International Tax News

Tax-News.com: International Tax News

Global tax news, continuously updated through the day.
  1. The OECD has released further interpretative guidance to give greater certainty to tax administrations and multinational groups on the implementation and operation of country-by-country reporting.
  2. Singapore is to add provisions to draft legislation to enhance the new GST regime for imported services and clarify new rules for virtual currencies.
  3. New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world.
  4. The OECD has recommended that Colombia pursue value-added tax and income tax reforms to plug revenue leakages and improve the fairness of the tax regime.
  5. On November 5, 2019, the UK Government released the synthesized text of the Luxembourg-UK double tax agreement, as modified by the BEPS multilateral instrument.
  6. On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on large corporations and wealthy individuals, as well as by stricter anti-tax avoidance rules.
  7. The Swiss Government has published guidance on the legislation that brings into force the recommendations made by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
  8. The OECD has released guidance on new information reporting obligations for territories that levy no or only nominal rates of corporate tax, as part of its work on BEPS Action 5, covering harmful tax practices.
  9. On October 9, 2019, the British Virgin Islands International Tax Authority has finalized rules governing the application of the territory's new economic substance requirements, which became effective from January 1, 2019.
  10. Members of the European Parliament (MEPs) have called on EU member states to agree proposals that would require the public disclosure of country-by-country (CbC) reports, to reveal the taxes paid by multinationals.