New data on public CbCR showed uneven adoption, as Singapore advanced pillar two compliance and firms expanded their tax capabilities
Nearly two years after its publication, the Corporate Tax Roadmap is reshaping the UK’s TP framework through incremental reforms focused on scope, transparency and earlier HMRC intervention
With a stark divergence between MNEs that prepared early and those rushing to catch up, advisers must remain agile with all manner of compliance risks
The EU agreed new cooperative and investigative measures to tackle VAT fraud, while Hungary faced legal action and Lavez Coutinho expanded its indirect tax team
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Sponsored by insightsoftwareJoin KPMG and insightsoftware on June 25 as ITR presents a free webinar on the evolving role of tax professionals and how technology is driving the transformation -
Sponsored by GNV ConsultingRatna Shakira Lie and Yoan Putra Muda of GNV Consulting explain Indonesia’s new tax guidance on insurance accounting changes, addressing the transition to PSAK 117 and its implications for income recognition and compliance
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Sponsored by GNV ConsultingRatna Shakira Lie and Yoan Putra Muda of GNV Consulting outline Indonesia’s relaxation of sanctions for late 2025 corporate income tax returns and payments, alongside updated rules on preliminary refunds and compliance requirements
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Bob van der Made On June 12 2017, the European Parliament's joint ECON and Legal Affairs (JURI) Committee members adopted their joint report on the European Commission's draft directive on public country-by-country reporting (CbCR), with 38 votes in favour, nine against and no less than 36 abstentions, i.e. not exactly a slam dunk. The consolidated committee's compromise report will be published at the end of June or at the beginning of July.
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Fernando Giacobbo Ruben Gottberg On May 24 2017, the Brazilian senate ratified the text of the agreement for the avoidance of double taxation (DTA) between Brazil and Russia, signed on November 22 2004, as well as the amendment to the protocol of the DTA between Brazil and India, signed on October 15 2013.
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Eddie Ahn In a major Australian transfer pricing decision on April 21 2017, the Full Federal Court dismissed Chevron Australia Holdings Pty Ltd's appeal related to the deductibility of interest on the Australian dollar equivalent of $2.45 billion loans from its US subsidiary, Chevron Texaco Funding Corporation.
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Sean Foley Cameron Taheri On March 27 2017, the Internal Revenue Service (IRS) Advance Pricing and Mutual Agreement (APMA) Programme issued its annual report on advance pricing agreements (APA) statistics for 2016 contained in Announcement 2017-03. The highlights include:
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The Philippines government has established the primary basis for a comprehensive tax reform package that is part of a wider ambitious plan for national development. Emmanuel P Bonoan, vice chairman and chief operating officer of KPMG R.G. Manabat & Co, and former undersecretary of the Philippines Department of Finance (DoF), examines the provisions of package 1 of the tax reform, which will affect multinational corporations (MNCs) and major industries.
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Lewis Lu Curtis Ng The Hong Kong government has revised the concessionary tax regime for certain aircraft leasing activities to ensure it requires require real economic substance and activity in Hong Kong.
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When Indian Prime Minister Narendra Modi announced the launch of the country's goods and services tax to much fanfare at a glittering ceremony, he probably wasn't expecting international attention outside of the tax world.
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Germany's Federal Constitutional Court has ruled that the German change-in-ownership rules relating to loss carryforwards partially infringe the constitution, and must be amended with retroactive effect.
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In line with recent international trends fostered also by the OECD, Italian tax authorities have been increasing efforts and tools to start a new phase of cooperation with taxpayers and business operators.
