International updates - October 2017

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International updates - October 2017

International Updates

The latest international updates from our correspondents around the world.

Argentina: Developments expected on payment mechanism of non-resident capital gains tax

Australia: The tax treatment of corporate collective investment vehicle regimes

Brazil: Developments impacting all businesses

Bulgaria: Guidance on publishing financial statements and sanctions for non-compliance released

Canada: Sweeping changes proposed to voluntary disclosure programme

Chile: New tax credit for income from employment, independent personal services and exportation services

China: New plans to promote foreign investment and manage outbound investment

Croatia: Tax authorities warn against European business number scam

European Union: European Parliament adopts legislative resolution on public CbCR

Germany: Change-in-ownership rules referred to the Federal Constitutional Court (again)

Hong Kong: Transfer pricing legislation expected by end of 2017

India: Delhi High Court restrains Vodafone’s international arbitration proceedings against India

Indonesia: Updates on DTAs with the Netherlands, Malaysia, and Armenia

Ireland: Reviewing the corporation tax regime

Italy: Italian branch exemption: operative guidelines from central revenue

Luxembourg: Guidance issued on the mutual agreement procedure

Malta: Recent developments regarding fringe benefits

Mexico: Update on capital repatriation initiative

Poland: Changes to income taxes coming in 2018

Portugal: Lights, camera, action - Portuguese tax incentive for film production

South Africa: Proposed income tax amendments and tax treaty developments

Spain: First experiences with the new rules on cassation appeals from a tax perspective

Switzerland: Federal Council issues draft legislation on Tax Reform Proposal 17

Turkey: Latest developments in the tax landscape

US Inbound: US court defers to competent authority’s judgment

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The UK has confirmed its approach to the OECD’s side-by-side deal, but US-parented groups may find pillar two compliance remains far from straightforward
Fragmented pillar two taxation and increased use of AI by tax authorities have left clients fearful of heightened disputes exposure
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Crowe joins Grant Thornton, WTS and Ryan in attracting PE investment, suggesting that dealmakers remain bullish on the tax advisory sector
HMRC expects advisers to meet ever-higher compliance criteria. After 24 consecutive qualified audit opinions, many will ask whether HMRC should hold itself to the same standards
The purchase of Marosa represents the second major tax tech consolidation this week, raising questions of a broader industry trend
Peru’s approach to TP is increasingly at odds with OECD-style profitability policies, exposing multinational groups to asymmetric tax adjustments
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