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Aggressive audits on foreign taxpayers fail to help Indonesia reach tax targets

The Indonesian Directorate General of Taxation (DGT) has fallen behind its target for tax collection this year despite an aggressive audit programme focused on multinational enterprises and their use of TP.

July 28 2015

EC tells France to recover €1.37 billion from EDF

The European Commission (EC) has ordered France to recover €1.37 billion ($1.50 billion) from Électricité de France (EDF), the energy company, for tax breaks given to the company in 1997.

Joe Stanley-Smith, July 27 2015

India’s Black Money Act: What you need to consider while making a voluntary disclosure

The Indian Government’s pursuit of elusive ‘black money’ has led to the enactment of the Undisclosed Foreign Income and Assets (Imposition of Tax) Act 2015 (the Act), colloquially referred to as the ‘Black Money Act’.

July 27 2015

Brazilian taxpayers now required to disclose tax planning structures

The July 21 edition of the Brazilian Official Gazette contained provisional measure 685 (PM 685), which creates an obligation on taxpayers to formally report to tax authorities certain transactions that result in tax benefits.

July 27 2015

Number of APAs set to increase with BEPS guidance

With the onset of BEPS final guidance in October, companies’ tax teams are recognising a need to review their historic business structures and, in many cases, apply for advance pricing agreements (APA) to safeguard future transactions.

Sophie Ashley, July 27 2015

Australian Tax Office refreshes APA procedures

The Australian Tax Office (ATO) has released the formalised details of updates to APA procedures and practices.

July 27 2015

Brazilian Federal Revenue Secretariat clarifies application of PCI and PECEX methods

Consultation Solution no. 176, published by the Brazilian Federal Revenue Secretariat on July 8, 2015, made clear the tax administration’s position to require application of the PCI and Pecex methods on import and export transactions involving commodities, by determining the reliable sources of information to obtain the parameter prices for the transfer pricing calculation.

July 26 2015

Companies to hire more staff to cope with BEPS and TP burden

BEPS guidance and legislation signals a turning point in international corporate tax with companies and governments having to make significant changes to manage the compliance burden.

Sophie Ashley, July 26 2015

Brazil implements disclosure mechanism in the context of BEPS Action Plan 12

Following the trends of countries such as Spain and Mexico, among others, Brazil has begun to amend and introduce new legislation to reflect BEPS recommendations in its internal legislation.

July 26 2015

UK raises stakes for large businesses with new tax compliance measures

The UK is stepping up the pressure on large businesses to be seen to be more transparent about their tax policy and to comply with their obligations in a public way.

Ralph Cunningham, July 23 2015

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