Taxpayers suggest consolidated statement tweaks to fit GloBE rules Tax professionals widely agree with the OECD on using consolidated financial statements to determine effective tax rates under the global anti-base erosion (GloBE) proposal under pillar two. By Danish Mehboob December 11 2019
The US supports GloBE, but global taxpayers are hesitant The OECD’s global anti-base erosion (GloBE) proposal under pillar two is broader than taxpayers expected. It risks over-complicating international tax before the impact of the BEPS project settles in. By Danish Mehboob December 06 2019
US-France DST tensions may spark wider EU trade war The US escalates trade tensions with France after threatening new tariffs following its investigation into the French digital services tax (DST). French officials said the EU is ready to retaliate. By Danish Mehboob December 03 2019
Countries address data mismatches in AEOI at the Global Forum Government officials found poor quality data from the automatic exchange of information (AEOI) and discussed implementation challenges at the OECD’s Global Forum. By Danish Mehboob December 02 2019
Public CbCR fails to move forward in EU Council EU ministers failed to agree on an approach to public country-by-country reporting (CbCR) because it puts European business at a disadvantage in the global market against China and the US. By Danish Mehboob November 29 2019
Taxpayers ask for a clear purpose to pillar one Clearer problem statement and definitions of digital activity need to be set by the OECD for taxpayers to advance the conversation on Amounts A, B, and C in pillar one. By Danish Mehboob November 25 2019
Retail banking argues for exclusion from pillar one The retail banking sector wants to be exempted from the pillar one proposals under the OECD’s digital tax plan because of existing, heavy financial regulations and possible mismatches with OECD... By Danish Mehboob November 25 2019
Taxpayers ask for ‘carve-out’ details in pillar one feedback Tax professionals are taking a closer look at the criteria being used to determine which industries should benefit from a carve out on the digital tax proposals ahead of the... By Danish Mehboob November 14 2019
IBM explores blockchain for transparency and compliance IBM is building proof-of-concept applications on blockchain to improve tax compliance, including a database that may curb disputes by better data management ahead of more disclosures. By Danish Mehboob November 14 2019
Tax directors advise their board on tax crimes ahead of DAC6 Tax directors are advising their corporate boards on tax criminality risks ahead of disclosure regimes that expand reporting liabilities and data that tax professionals fear authorities will utilise for audits. By Danish Mehboob November 13 2019
