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  • May 2017

    EU adopts directive to tackle hybrid mismatches

    May 31, 2017

    The European Union (EU) Council has adopted rules to prevent multinationals using hybrid mismatch arrangements to avoid taxation, but the measures risk conflicts with national laws and could give rise to disputes.

  • OECD releases peer review criteria for BEPS Action 6

    May 31, 2017

    Governments have six months to prepare before peer reviews begin on how they meet the minimum standards of the BEPS project, including Action 6 on treaty shopping. But tax authorities could face some difficulties in meeting their targets.

  • US budget targets a simple tax code, but will it work?

    May 31, 2017

    The US budget proposes simplifying the tax code and removing most of the special interest tax breaks to improve business competitiveness and economic growth, but businesses are sceptical about the real impact of the plans.

  • The Brockman brief: Double taxation: Does it matter?

    May 30, 2017

    There is one topic that is seemingly silent by tax administrations, non-governmental organisations (NGOs), parliamentarians and international tax bodies: double taxation. Keith Brockman reviews the state of play and what can be done to help multinationals.

  • UK parties split over taxes

    May 30, 2017

    As the UK election approaches, the Conservatives, the Labour Party and the Liberal Democrats have presented their respective proposals on tax policy. Josh White examines the party manifestos.

  • Asia forum shows there is more to tax than BEPS

    May 30, 2017

    BEPS may have been first among the topics for discussion at International Tax Review’s Asia Tax Forum, but it was not the only subject on the list. As Ralph Cunningham reports, panellists and delegates were also keen to discuss issues such as anti-avoidance, dispute resolution and tax incentives in their own countries and elsewhere.

  • Talking to the OECD: Tech disruption in tax administration

    May 30, 2017

    Peter Green, head of the Forum on Tax Administration (FTA) Secretariat at the OECD shares his views with the Inland Revenue Authority of Singapore (IRAS) and International Tax Review on how technology is changing the status quo for many industries and tax administrations with the constant emergence of new technologies and rising taxpayer expectations.

  • Transforming tax – under pressure

    May 30, 2017

    Tax departments are feeling the heat. A tsunami of changes is causing them to rethink their purpose and review how they operate. Mark Body, director, tax transformation (financial services) at KPMG in the UK, considers how corporate tax leaders are adapting to the changes, and what the future is likely to hold for them and their teams.

  • GST in India: Learning from the Malaysian experience

    May 30, 2017

    India is about to embark on a landmark change to its indirect tax system by implementing a goods and services tax (GST) regime. Yvonne Beh, partner at Wong & Partners (a member firm of Baker McKenzie International) and Nishant Shah, partner at Economic Laws Practice, explore how India can learn from Malaysia’s implementation experience.

  • Using blockchain for transparent beneficial ownership registers

    May 30, 2017

    The OECD and the Financial Action Task Force (FATF) are considering how to improve implementation of the international standards on transparency, including on the availability of beneficial ownership information and its international exchange. Julia de Jong, Alexander Meyer, and Jeffrey Owens of the Global Tax Policy Centre at the Institute of Austrian and International Tax Law within the Vienna University of Economics and Business explore how blockchain technology could be used to achieve this goal.

  • The economics behind EU tax probes: What it means for you

    May 30, 2017

    Understanding competition economics can help multinationals and national authorities restore and maintain the legal certainty of tax rulings. In the first of a two-part series of articles, Carina Lange, senior consultant at CEG Global in the Netherlands, explains the approach the Commission is taking to assess whether tax rulings or systems distort competition and how it fits into the general economic assessment of state aid cases.

  • Switzerland signs DTA with Kosovo

    May 26, 2017

    Switzerland and Kosovo signed a double taxation agreement (DTA), covering taxes on income and capital.

  • Wells Fargo found liable for penalties under abusive tax shelter scheme

    May 26, 2017

    A federal court in Minneapolis, US, has found financial institution Wells Fargo liable for a 20% negligence penalty in connection with $350 million of foreign tax credits that it claimed while participating in an abusive cross-border tax shelter, but it wasn’t all bad news for the bank.

  • Winners and losers of Russia’s planned VAT hike

    May 25, 2017

    Russia intends to increase its VAT rate in 2019 to help fund business tax cuts elsewhere and stimulate competition, but not all companies will benefit.

  • UK parties split over taxes

    May 24, 2017

    As the UK election approaches, the Conservatives, the Labour Party and the Liberal Democrats have presented their respective proposals on tax policy.

  • Litigation, litigation, litigation? - How the OECD’s BEPS guidelines are affecting Brazil, Mexico and Argentina

    May 23, 2017

    The impact of the BEPS guidelines has been manifold in Latin America. Despite the certainty these guidelines have generated in some tax markets, their implementation has seen an increase in court litigation in Brazil, Mexico and Argentina.

  • EU finance ministers agree on MAP for double taxation disputes

    May 23, 2017

    Businesses operating in the EU could see their litigation and compliance costs fall considerably after the EU Economic and Financial Affairs Council (ECOFIN) agreed on a new system for resolving double taxation disputes within the 27-member bloc.

  • Consignment stocks: Direct delivery only with binding purchase agreement

    May 23, 2017

    The German Federal Fiscal Court has published a decision regarding the VAT treatment of supplies via consignment stocks (VR 1/16). Ronny Langer, partner at Küffner Maunz Langer Zugmaier, explains what this case could mean for other cross-border transactions.

  • Enter now for the Americas Tax Awards 2017

    May 22, 2017

    Private-practice, in-house and individual awards are up for grabs at this year's Americas Tax Awards.

  • India ready to sign Multilateral Convention to tackle BEPS

    May 18, 2017

    India’s Union Cabinet has approved the signing of the Multilateral Convention (MLI) to implement tax treaty related measures that aim to prevent base erosion and profit shifting (BEPS) in the country.

  • Salman Shaheen discusses Labour's UK FTT plans on TalkRADIO

    May 18, 2017

    Salman Shaheen, managing editor of International Tax Review, speaks to TalkRADIO’s Julia Hartley-Brewer about Labour’s plans for a financial transaction tax, should it win next month's UK general election.

  • Singapore proposes GST changes to boost compliance

    May 17, 2017

    Singapore’s Ministry of Finance has released the draft GST (Amendment) Bill 2017, seeking comments on six proposed changes that aim to ease business compliance, clarify existing legislation and improve tax administration.

  • Lebanon commits to OECD’s greater tax transparency initiatives

    May 17, 2017

    Lebanon has become the 111th jurisdiction to join the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the convention) to enhance tax transparency and begin exchanging tax data with partner countries from 2018.

  • The exclusion of the tax on circulation of goods and services (ICMS) from the calculation basis of PIS and COFINS

    May 17, 2017

    In Brazil, PIS and COFINS are taxes that, for a long time, applied on the gross revenue of legal entities on a cumulative basis. Despite countless changes regarding the taxes in recent years, they currently apply on the full revenue of the taxpayers and are subject to a non-cumulative system.

  • Corporate tax compliance burdens are rising despite lower tax rates and more incentives

    May 17, 2017

    Governments worldwide are seeking alternative means to attract businesses as global tax reforms and weak economic growth drive tax rates down, but the tax changes are anything but positive for businesses.

  • Germany amends rules on invoices for small transactions with retroactive effect

    May 16, 2017

    Germany has simplified the VAT procedure for the invoicing of small amounts, but practical problems remain for taxpayers on how the rules should be applied.

  • Last chance to submit for World Tax and Transfer Pricing 2018

    May 15, 2017

    The submission period for World Tax and World Transfer Pricing 2018 has ended. Firms interested in making submissions should contact their country's researcher immediately if they have missed the deadline.

  • Diageo prepares to pay $138 million as it falls foul of UK DPT

    May 12, 2017

    UK multinational and alcoholic drinks producer Diageo is the first company that will have to make an upfront tax payment to UK tax authority, HMRC, before it can challenge preliminary notices of assessment issued under the diverted profits tax (DPT) regime.

  • Qatar moves another step closer to implementing VAT

    May 11, 2017

    Qatar has signalled its intention to bring in the GCC’s VAT regime, with its Cabinet approving a draft law on value added tax.

  • Australia gets even tougher on tackling MNE tax avoidance

    May 09, 2017

    Australian Treasurer Scott Morrison says the government will continue its crackdown on multinationals not paying their ‘fair share’ of tax and announced more targeted measures in his 2017-18 budget speech. He also announced a major levy that will hit the country’s biggest banks.

  • Health versus wealth: Trumpcare expected to deliver major tax breaks for high earners

    May 09, 2017

    US President Donald Trump's efforts to pull the reins on the Affordable Care Act, dubbed ‘Obamacare’, gained momentum on Thursday as the Republican’s healthcare bill was passed (narrowly) in the House of Representatives. The bill symbolises an important legislative victory for the Trump administration and paves the way for a tax cut for high earners.

  • Macron’s victory puts corporate tax cuts on the agenda

    May 08, 2017

    After 66-34 victory in the French election, Emmanuel Macron faces the difficult task of fighting the legislative elections and building a government to deliver his reform agenda: cutting taxes and public spending. The outcome was a significant relief for European leaders in particular.

  • Asia Tax Awards 2017 winners announced

    May 04, 2017

    Twenty eight different firms, individuals and companies shared the prizes at the Asia Tax Awards in Singapore.

  • HMRC showcases new powers with raids on Premier League football clubs

    May 04, 2017

    The offices of West Ham United and Newcastle United have been raided as part of a broad criminal tax fraud investigation by UK revenue authority HMRC, with English and French clubs in its sights.

  • The catalogue of avoidance

    May 04, 2017

    Chile’s tax reform, within its latest and more important updates, incorporated a general anti-avoidance regulation through which it established that the tax obligations can be enforced according to the legal nature of the facts, acts, or business, without attending to their form, denomination or to the defects that could affect them.

  • Brazil: Levy of WHT on the remuneration of the license covering the right to sell and distribute software

    May 04, 2017

    The Brazilian Federal Revenue Service reviews its understanding regarding the levy of the withholding income tax (WHT) on the remuneration of the license of the right to sell and distribute software.

  • Macron calms Frexit fears

    May 03, 2017

    Both of the candidates in France’s upcoming election are talking about tax cuts – but while Emmanuel Macron would slash France’s corporate tax rate, his opponent, Marine Le Pen, would cut the rate for smaller businesses, and increase taxation of companies which hire foreign workers.

  • Brazilian rules on country-by-country reporting

    May 02, 2017

    In line with the commitments agreed by Brazil under the BEPS Project, the Brazilian Federal Revenue Service introduced a new statutory requirement for certain Brazilian-based entities, which are part of multinational enterprise (MNE) groups to submit an annual country-by-country (CbC) report, containing information regarding their profits, taxes and other indicators of economic activities.

International Correspondents