Pillar two floor could disadvantage tax frameworks in the Middle East Following the G7 agreement on a global minimum corporate tax rate, tax directors suggest Gulf Cooperation Council (GCC) countries face significant tax outflows under pillar two because of limited domestic... By Danish Mehboob June 07 2021
Ireland and UK push back against US proposal for minimum tax rate Following pushback from Ireland and the UK on a suggested 21% global minimum tax rate under pillar two, the US is proposing a floor of 15% on discussions at the... By Danish Mehboob May 24 2021
EU issues BEFIT proposal to replace deadlocked CCCTB The European Commission is replacing the common consolidated corporate tax base (CCCTB) proposal with Business in Europe: Framework for Income Taxation (BEFIT), in an attempt to build on the OECD’s... By Danish Mehboob May 20 2021
Excess cash highlights Australia’s 2021 budget Australia's 2021-2022 federal budget introduces key features to its tax system including a highly anticipated patent box regime, extensions on asset write-offs and loss carry-backs, and technical changes to local... By Danish Mehboob May 13 2021
Danish high court rulings influence EU beneficial ownership cases Rulings from the High Court of Denmark have added to corporate concerns about beneficial ownership exemptions under the EU’s Parent-Subsidiary Directive. Companies are abandoning their traditional operating models to avoid... By Danish Mehboob May 12 2021
Top direct tax cases and transfer pricing disputes in Q1 2021 The first quarter of 2021 saw General Electric (GE) win a battle with the UK tax authority, while the Indian tax administration rebuffed Cairn’s settlement offer, and Rio Tinto fights... By Danish Mehboob April 29 2021
Ireland pushes back on US proposal for 21% global minimum tax Irish Finance Minister Paschal Donohoe emphasised that the OECD’s digital tax agenda must work for small nations too, hinting that Ireland will not agree to raise its 12.5% CIT rate. By Danish Mehboob April 22 2021
Controversial UN treaty provision for a digital tax awaits final approval Tax experts suggest the final draft of the UN’s Article 12B treaty proposal to tax automated digital services (ADS) could impede the OECD’s multilateral digital tax agenda as an alternative... By Danish Mehboob April 16 2021
Why corporate inversions might return with Biden tax reforms The Biden administration has plans to raise effective corporate tax rates as part of the Made in America plan, however, advisors warn this could lead to the return of the... By Danish Mehboob April 12 2021
The Made in America tax plan is rewriting the TCJA The Biden administration’s Made in America tax plan proposes changes to the 2017 Tax Cuts and Jobs Act (TCJA) to align with the OECD’s global minimum tax proposal. By Danish Mehboob April 08 2021
