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.
The double-Irish will not be available to new companies from January and will be phased out for existing taxpayers between now and 2020 The Irish government announced in its 2015 Budget the abolition of the so-called double-Irish structure and its intention to introduce an income-based system for the taxation of intellectual property, which it is calling a Knowledge Development Box. In a well-flagged move, Michael Noonan, the Irish Minister of Finance, said in his speech that the double-Irish would be not be available to new companies from January 1 next year. A transition period for existing taxpayers will last until the end of 2020. Noonan said the change means that companies incorporated in Ireland would have to be tax resident there too.
Fifty one jurisdictions signed a multilateral competent authority agreement at the seventh meeting of the OECD's Global Forum on Transparency and the Exchange of Information for Tax Purposes in Berlin this afternoon.
