The list of up and coming international tax regulations might look like a plate of alphabetti spaghetti but, whether talking about base erosion profiting shifting (BEPS), country-by-country reporting (CbCR), operational transfer pricing, FATCA, data analytics, IFRS or common reporting standards (CRS), the common goal is increased global reporting of tax information.
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Foreign companies operating in Libya face source-based taxation even without a local presence. Multinationals must understand compliance obligations, withholding risks, and treaty relief to avoid costly surprises
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations