International Tax News Blog

Archives: 2020

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  • Digital Tax Control: Italy at the Forefront

    Logo: Bloomberg Law

    By FILIPPA JÖRNSTEDT 

    Filippa Jörnstedt of Sovos considers the experience of Italy in introducing a digital tax control regime and discusses how the success of the new regime has improved tax administration and revenues.

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    By FILIPPA JÖRNSTEDT , posted on Friday December 18, 2020
  • Winners and Losers: The OECD’s Economic Impact Assessment of Pillar One

    Logo: Bloomberg Law

    By Lorraine Eden 

    The OECD’s Pillar One Blueprint, released on Oct. 12, 2020, proposes to redistribute the taxable income of multinational enterprises (MNEs) away from jurisdictions that are home and host to MNEs to the markets where MNE products are sold. In the second article of a three-part series, Lorraine Eden examines the OECD’s Economic Impact Assessment (EIA) of the Pillar One Blueprint, outlining the complexity and data problems faced in performing the assessment. The article highlights the key roles played by Global In-Scope Destination-based Sales (component C) and Global Residual In-scope Profits (component E) in determining the reallocation impacts of Pillar One. Estimates of the gap between components C and E are used to explore the likely jurisdictional impacts of Pillar One at a more fine-grained level than in the EIA.

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    By Lorraine Eden, posted on Thursday December 17, 2020
  • OECD Deal Should End Unilateral Digital Taxes, Tech Giants Say

    Logo: Bloomberg Law

    By Hamza Ali and Isabel Gottlieb 

    A number of tech giants, including Microsoft Corp., Spotify AB, and Netflix Inc., are calling for negotiators to require countries to abolish their own digital tax plans as part of an OECD agreement.

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    By Hamza Ali and Isabel Gottlieb, posted on Wednesday December 16, 2020
  • France, India Pass Up OECD’s Hard-to-Value Intangibles Rules

    Logo: Bloomberg Law

    By Hamza Ali

    Countries like France, Switzerland, and India are among the jurisdictions that haven’t adopted the OECD’s approach to assessing hard-to-value intangible assets. More than half of the 40 countries surveyed haven’t implemented the Organization for Economic Co-operation and Development’s recommendations, according to an update released Wednesday. 

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    By Hamza Ali, posted on Wednesday December 16, 2020
  • China Should Consider a Digital Services Tax, Says Key Regulator

    By William Hoke

    A Chinese securities regulator said the government should conduct an in-depth study to determine whether a digital services tax based on the concept that users create value should be implemented. 

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    By William Hoke, posted on Saturday December 19, 2020
  • Johnson & Johnson Floats More Streamlined OECD Pillar 1 Design

    By STEPHANIE SOONG JOHNSTON

    Johnson & Johnson has proposed a simpler design for a key element of the OECD’s global tax reform project that could avoid disputes about which companies are in and out of scope of the rules.

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    By STEPHANIE SOONG JOHNSTON, posted on Monday December 21, 2020
  • Businesses Call for Limited OECD Tax Reform Agreement in 2021

    By STEPHANIE SOONG JOHNSTON

    As major disagreements persist among governments and the business sector about the OECD’s global tax reform project, it may be time for countries to mull striking a limited deal by mid-2021, Business at OECD said. 

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    By Stephanie Soong Johnston, posted on Tuesday December 15, 2020
  • Which Large U.S. Corporations Would Pay Biden’s 15% Minimum Tax?

    By MARTIN A. SULLIVAN 

    We estimate that 33 of the 100 largest U.S. companies could be subject to President-elect Joe Biden’s proposed corporate minimum tax and pay a total extra tax of $20 billion annually if that proposal were enacted as stand-alone legislation. Because the president-elect has proposed other significant tax increases on U.S. corporations, the effect of the proposed minimum tax would likely be much less.

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    By Martin A. Sullivan, posted on Monday December 21, 2020
  • Senate Passes Defense Bill With Provisions to Combat Tax Evasion

    By Jad Chamseddine

    The Senate cleared a defense bill with provisions giving the government power to illuminate ownership structures of shell companies that facilitate tax evasion and money laundering and sent it to the president’s desk.

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    By Jad Chamseddine, posted on Monday December 14, 2020
  • OECD Peer Review Finds Jurisdictions Improving on Info Exchange

    By Kiarra M. Strocko

    The OECD’s transparency body has released its second round of peer reviews. Cyprus improved regarding accuracy of reported information and timeliness of requests, the review found, noting a 58 percent increase in requests from 2016.

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    By Kiarra M. Strocko, posted on Monday December 14, 2020


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