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Germany Issues ministerial draft bill reflecting BEPS initiatives, EU Directive
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EC probes Belgian, French corporate tax exemptions (1)
Belgium and France are under scrutiny by the European Commission (EC) for offering corporate tax exemptions that distort competition.
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New Brazilian rules on ultimate beneficiary disclosure
The Brazilian Internal Revenue Service (IRS) has issued Normative Instruction (NI) No. 1.634with the purpose of updating the main regulatory provisions regarding the Corporate Taxpayer Registry (CNPJ).
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EU Vat Action Plan: Heavier burden for businesses?
The European Commission's proposed VAT Action Plan is an ambitious attempt to reform the flailing regime. Joe Stanley-Smith picks through the details to look at the impact it could have on companies.
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Business Reps Neutral on OECD Arbitration Style
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Democrats to Treasury: Ignore Lobbyists in Debt-Equity Fight
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Lew to Taxwriters: Treasury Will Review Debt-Equity Reg Comments
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U.S. Corporate Income Tax Reform and its Spillovers
This paper examines the main distortions of the U.S. corporate income tax (CIT), focusing on its international aspects, and proposes a set of reforms to alleviate them. A bold reform to replace the CITwith a corporate-level rent tax could induce efficiency-enhancing reform of the international tax system. Since fundamental reform is politically difficult, this paper also proposes an incremental reform thatwould reduce tax expenditures, reduce the CIT rate to 25-28 percent, and impose a minimum rent tax on foreign earnings. Finally, this paper analyzes empirically the likely impact of the incremental on corporate revenues outside the U.S.
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Chamber Addresses Treasury's Debt-Equity Debacle
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GOP Senators: Treasury rules could erode tax base
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Policy Options to Address Profit Shifting: Carrots or Sticks?
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Treasury to Address Cash Pooling in Final Debt-Equity Rules
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Transfer Pricing Deals to Get Special Scrutiny After Inversions
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State Groups Target Treasury's Debt-Equity Rules
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EU Nations Turned Blind Eye to LuxLeaks Tax Rulings: Report
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OECD Criticized for Not Issuing Draft Multilateral Instrument
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More Law Professors Urge Ninth Circuit to Overturn Altera'A second group of law professors is calling on the U.S. Court of Appeals for the Ninth Circuit to uphold federal cost-sharing regulations str
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Treasury Plans for Debt-Equity Regs Remain Vague, Taxwriters Say
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EP Supports CCCTB, Tax on Profits Leaving EU, Ownership Register
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IRS issues final county-by-counry reporting rules, addresses volunatry reporting for 'gap year,' along with a few points of clarification
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Argentine Congress passes tax bill with amnesty provisions and other significant tax changes
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Brazil now requires information reporting for 'ultimate beneficial owners'
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The federal government says U.S. corporations will spend a combined $13 million annually complying with proposed tax rules on internal corporate debt. But an industry trade group estimates that could
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Is Corporate Integration a Good Idea?
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Finance Republicans Urge Treasury to Delay Debt-Equity Regs
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LB&I International Practice Service Concept Unit
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Comparables Argument in Altera' Flawed, Law Professors Say
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MEPs call for tax haven blacklist, patent box rules, CCCTB and more
Parliament's recommendations for making corporate taxation fairer and clearerwere voted onwednesday. MEPs call for an EU register of beneficial owners of companies, a tax havens blacklist, sanctions against non-cooperative tax jurisdictions, action against abuse of "patent box" regimes, a code of conduct for banks and tax advisors, tax good governance rules in EU trade agreements, a common consolidated corporate tax base (CCCTB) and awithholding tax on profits leaving the EU.
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Crackdown on tax loopholes announced by European commission
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Swiss IP Structures Attractive to U.S. Tax Directors
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Republicans Raise Heat on Treasury's Debt-Equity Rules
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OECD Discussion Draft Narrows Scope for Profit Splits
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EU Starbucks' Ruling: A New View of Arm's-Length Principle
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Why Does Subchapter C Address Foreign Corps?
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India amends application date of General Anti-Avoidance Rule
by Amelia Schwanke
Investors in India have been given room to breathe as the Central Board of Direct Taxes (CBDT) amends the effective date of the General Anti-Avoidance Rule (GAAR).
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Taxing vocabulary: a glossary of fiscal terms
Paying taxes can be complicated, but so can the vocabulary that goeswith it. Tax avoidance is legal, but tax evasion isn't and justwhat exactly is base erosion? As the Parliament's second special committee is having its final recommendations debated and voted on during thisweek's plenary,we take a closer look at the jargon. Read on for an explanation of the terms used.
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Tax Haven Route Won't Work for Post-Brexit UK, OECD Says
The United Kingdom is unlikely to try to lure international investment by becoming a tax haven after it leaves the European Union, according to an internal memo prepared by the body responsible for the drafting international tax rules.
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New Brazilian rules on ultimate benefiti
The Brazilian Internal Revenue Service (IRS) has issued Normative Instruction (NI) No. 1.634with the purpose of updating the main regulatory provisions regarding the Corporate Taxpayer Registry (CNPJ).
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The Platform for Collaboration on Tax releases discussion draft on effective capacity building on tax matters in developing countries
G20 Finance Ministers, in their communique of February 2016, called upon the IMF, OECD, UN andworld Bank Group to "recommend mechanisms to help ensure effective implementation of technical assistance programmes, and recommend how countries can contribute funding for tax projects and direct technical assistance, and report backwith recommendations" at their July meeting. The four organisations,working jointly as the members of the new Platform for Collaboration on Tax – drawing on their individual experiences in delivering technical advice and their interactionswith other TA providers, development partners, and especially country governments – have developed a series of recommendations and enabling actions in response to this request,which are laid out in this discussion draft.
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First meeting of the new inclusive framework to tackle Base Erosion and Profit Shifting marks a new era in international tax co-operation
Representatives of more than 80 countries and jurisdictions have gathered in Kyoto, Japan to push forward ongoing efforts to update international tax rules for the 21st century, the latest step in the OECD/G20 Project to tackle Base Erosion and Profit Shifting (BEPS).
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No Loan Recasts in Debt-Equity Rules, D.C. Bar Group Urges
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Brexit Probably Won't Affect Taxes As Much As Everyone Fears
It is hard to overstate the magnitude of the shockwave emanating from the United Kingdom in thewake of voters' decision to exit the EU.The surprising victory of the Leave campaignwill almost certainly prompt introspection on the part of EU leaders and force the next U.K. prime minister to confront the serious possibility of a major recession and tangled trade policy.Where the Brexit vote might have a more subtle impact is on the U.K. tax regime.While the United Kingdom might gradually opt to diverge from the EU's VAT rules andwill be spared a potential state aid investigation, the effectswill be small and likelywon't be truly felt for years.
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Public review sought of BEPS Conforming Changes to Chapter IX of the OECD Transfer Pricing Guidelines
Interested parties are invited to review the conforming changes to Chapter IX of the OECD Transfer Pricing Guidelines, "Transfer Pricing Aspects of Business Restructurings."
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Release of BEPS discussion drafts on attribution of profits to permanent establishments and revised guidance on profit splits
Public comments are invited on the following discussion drafts:
For the OECD release, go here.
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UK plans to cut 20% corporate tax rate (1)
Chancellor of the Exchequer George Osborne has said he plans to slash the UK's corporation tax rate to below 15% to attract businesses and investment post-Brexit.
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EU Anti-Avoidance Directive and Irish Holding Companies - Taxation of Dividends
The hastily adopted EU Anti-Avoidance Directive ("Directive") requires European Union (EU) member states to introduce or amend their existing Controlled Foreign Companies ("CFC") legislation.
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U.S. Finalizes Country-By-Country Tax Reporting Rules -- Are Companies Ready To Comply?
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News Analysis: What Would Happen Upon Brexit, Part 2
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Draft Democratic Plan Supports Action to Stop Inversions
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New Business Voices Applauding Debt-Equity Rules