Search results for

Since October 2015, authorities have been reacting to the outcome of the BEPS Project. The implementation of new legislation and adaption of existing regulations to match the new OECD guidelines has already begun to impact multinationals worldwide. The undeniable headline change has been a broad move to implement country-by-country reporting (CbCR); however the other policy that stands out from the crowd is in the area of patent boxes, as Joelle Jefferis explains.

Taxpayers in the GCC have been waiting for VAT for some time Oman's finance minister, Darwish bin Ismail Al-Balushi, appears to have confirmed that VAT in the Gulf Cooperation Council (GCC) region will be introduced in 2018, at a likely rate of 5%.

The European Commission (EC) wants to change the way VAT is collected in the EU to reduce missing trader and carousel fraud, which cost governments tens of billions of euros in lost revenue each year.

See who has done the tax work on this month’s biggest deals

Facebook’s new ‘Like’ emoticons are receiving wide-ranging ‘reactions’ from the public, tax practitioners and NGOs On March 4, two of the major UK newspapers' online sites released two different stories about Facebook relocating its sales revenue to the UK. Differing views on the company's tax liabilities reveal that Facebook's tax hiccup isn't yet over.

Bob Stack took a stance against public CbCR in Dublin The US will not share country-by-country report (CbCR) information with foreign authorities who choose to make the reports public, said deputy assistant secretary at the US Treasury Robert Stack.

Read this month's special feature for Intangibles

Eddie Ahn On February 25 2016, the draft legislation introducing a new foreign resident capital gains tax (CGT) withholding regime received Royal Assent after being passed by the Australian Parliament. These rules take effect from July 1 2016 and impose a withholding tax obligation on purchasers of certain Australian real estate related assets.

Petar Varbanov On February 12 2016, Bulgaria ratified the Convention on Mutual Administrative Assistance in Tax Matters, as amended by the 2010 protocol, by way of Decree No 21 published in the Official Gazette No 14 of 19 February 2016 as well as the OECD Automatic Exchange of Information Agreement (2014), by way of Decree No 22 published in the same issue of the Official Gazette.

Alvaro Pereira Mark Conomy On March 10 2016, the Brazilian Congress published Act No 5 of 2016, which provided that Provisional Measure 694 (PM 694/2015) expired on March 8 2016 and would not be converted into law. PM 694/2015 was released on September 30 2015, and was principally concerned with amendments to the calculation basis and withholding tax rates applicable to interest on net equity payments (INE).