The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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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