A turbulent year for the energy sector has seen oil prices decreasing by more than half from June 2014 to the beginning of 2015 and brent crude oil dipping below $50 a barrel for the first time since May 2009. This volatility has caused longer term, widespread repercussions across the industry. Jimmie van der Zwaan from Taxand Netherlands looks at some of the consequences impacting the sector, including an increase in M&A activity, tax concessions instigated by governments and major oil companies announcing ravaged profits - and this is before considering the gathering momentum of the OECD's initiatives to tackle base erosion and profit shifting (BEPS) in international tax planning.
Unlock this content.
The content you are trying to view is exclusive to our subscribers.
Tax auditors themselves had not been aware of the new TP ‘transaction matrix’ requirements, ITR hears as five German partners share their client experiences
Specified taxpayers will have to apply a 19% VAT rate on services offered by third parties through their platforms; in other news, Donald Trump imposed 30% South African tariffs
Trump declared a new national emergency in issuing the order; in other news, Grant Thornton Germany is up for sale and the subject of interest from both its UK and US counterparts
The judgment, which saw Denmark's Supreme Court rely on OECD TP guidance, sets aside more than 15 years of consistent administrative practice, experts have told ITR
Brazil’s government has not officially framed the bill as a countermeasure amid trade tensions with the US, but the move is being considered as part of Brazil’s strategic response, one expert tells ITR