Fund managers find the administration of DAC6 still outweighs reporting problems Tax directors find identifying ‘at-risk’ transactions is a bigger burden than reporting them. Many companies have cross-border transactions linked to the EU that fall inside the scope of DAC6’s broad... By Danish Mehboob November 22 2021
This week in tax: EU on track for public CbCR by 2023 This week the European Parliament voted to implement public country-by-country reporting (CbCR) across the EU. The vote was the last obstacle for making public CbCR a reality across the economic... By Danish Mehboob & Alice Jones & Leanna Reeves November 12 2021
European Parliament greenlights public CbCR directive The EU's public country-by-country reporting (CbCR) directive will be published in the Official Journal of the EU after receiving final approval from the European Parliament. By Danish Mehboob November 12 2021
US experts lobby against financial accounting for global minimum tax More than 260 accounting and tax experts lobbied the US Congress to fix the domestic tax code instead of using financial accounting data for the tax base of a 15%... By Danish Mehboob November 08 2021
This week in tax: Ireland sees corporate tax revenue surge The Irish government has seen corporate tax revenue rise after it signed up to the OECD’s two-pillar framework, including the plan for a global minimum corporate tax rate. By Danish Mehboob & Josh White & Leanna Reeves November 05 2021
Last stretch to taxing the digital economy The political race to international tax reform is near its end, but the technical work remains. Yet pillar two is turning out to be a much bigger problem than pillar... By Danish Mehboob November 01 2021
G20 endorses a global minimum tax, but falls short on climate change Leaders at the G20 Summit in Rome formally backed a 15% global minimum tax, arguably the only concrete outcome from the summit alongside weak discussions on climate change and debt... By Danish Mehboob November 01 2021
European countries agree to withdraw DSTs in compromise with the US Austria, France, Italy, Spain, and the UK, have agreed to repeal unilateral measures targeting technology companies. The deal introduces a tax credit for companies facing digital services taxes (DSTs) ahead... By Danish Mehboob October 22 2021
Ireland and other holdout countries agree on pillar two at 15% Ireland, Hungary, and Estonia agree to a global minimum corporate tax rate of 15%, but a US political divide over the global intangible low taxed income (GILTI) regime threatens a... By Danish Mehboob October 08 2021
Rising audit activity in APAC will test MNE TP narratives Tax professionals from ITR’s Asia Tax Forum shared some approaches to long-term audit defence as audit activity increases in Australia, India, and other major supply chain jurisdictions in Asia. By Danish Mehboob September 20 2021
