The US Treasury has responded to calls for clarity about the status of jurisdictions that have agreed in substance an intergovernmental agreement (IGA) with the US to implement the Foreign Account Tax Compliance Act (FATCA), but will not have signed it by the end of 2014.
Form 76 introduces new information reporting rules for Mexican taxpayers, requiring them to disclose transactional details in a range of areas such as transfer pricing, financing and reorganisations.
The Mexican tax authorities have just added to the compliance burden of taxpayers by setting out new information reporting requirements relating to topics such as the financing of derivatives transactions, transfer pricing, restructurings and reorganisations.
More than half the financial institutions polled for a survey on FATCA [Foreign Account Tax Compliance Act] reporting have said they will spend more than originally planned to comply with the law.
The OECD has unveiled a plan to bring more developing countries into the discussions on base erosion and profit shifting. But tax justice campaigners have given it only a guarded welcome.
