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European Union: EU targets 92 non-EU jurisdictions as potential tax havens

Bob van der Made EU member states sent a letter on February 1 2017 to 92 jurisdictions outside the European Union, informing them that they will be "screened" with a view to possible inclusion in a future EU "blacklist" of tax havens. According to the EU's tax policy calendar, the common EU blacklist should be ready by the end of 2017, which, given the task, seems quite ambitious.

March 23 2017

Canada: Canadian government reaffirms commitment to combatting domestic and offshore tax avoidance and evasion

Kathleen Penny Shavone Bazarkewich On February 22 2017, the Canadian government responded to the recommendations made in the sixth report of the Standing Committee on Finance entitled: The Canada Revenue Agency, Tax Avoidance and Tax Evasion: Recommended Actions (standing committee report). The response generally supported all 14 recommendations of the standing committee report and reaffirmed the government's commitment to cracking down on tax evasion and perceived "aggressive tax avoidance".

March 23 2017

Luxembourg: Income threshold for non-residents to gain residency benefits to be put to the test

Pierre Jean Estagerie Vincent Reynvoet A decision issued by the Court of Justice of the European Union (CJEU) on February 9 2017 ("X" case) indicates that the rules for a non-resident working in Luxembourg to be treated as a tax resident could be subject to change.

March 23 2017

Brazil’s tax authority provides clarity on business tax matters

The Brazilian tax authorities (RFB, under its Portuguese acronym) issued Normative Instructions (NIs) and a tax ruling in recent months that will help companies operating cross-border to understand the authorities' position.

March 23 2017

Australia: Recent cross-border developments

Melissa Lim There have been several developments in Australia over that past month that affect businesses, including changes to the goods and services tax (GST) rules, more transparency on the beneficial owners of companies, and amendments to transfer pricing provisions. All of these recent changes are discussed below.

March 23 2017

Significant BEPS-related reforms coming for New Zealand

New Zealand has been active in implementing measures to address BEPS. Brendan Brown and Joshua Aird of Russell McVeagh in New Zealand explain the latest proposals that include measures to address permanent establishment avoidance, significant changes to the transfer pricing rules and an interest rate cap (among other measures) to limit related party interest deductions.

March 23 2017

China: China’s tax policy priorities are set for 2017

Khoonming Ho Lewis Lu The 5th session of China's 12th National People's Congress (NPC) commenced on March 5 2017 and several senior government officials highlighted a number of tax policy priorities for 2017 in addresses to the NPC and in press events on the sidelines of the NPC meeting.

March 23 2017

Inter-group financing by MNEs faces imminent change in the US

The US tax system is on the brink of change as upcoming discussions centre on tax policy (including regulations related to inversion transactions) that will ultimately reshape the US tax treatment of inter-company financing within MNEs. In the second half of 2016, a stream of new regulations and law changes, both actual and proposed, in and outside of the US, created new issues for inter-group financing by multinationals. Stuart Chessman, director at Vivendi, discusses the salient points.

March 23 2017

Italy: Non-resident individuals who transfer their place of residence to Italy

Barbara Scampuddu Gian Luca Nieddu Starting from 2017, non-resident individuals who transfer their place of residence to Italy may opt for a preferential tax regime with regard to foreign source income.

March 23 2017

Switzerland: Swiss Federal Council to introduce revised CTR III legislation quickly

Jacques Kistler Rene Zulauf After the rejection of Corporate Tax Reform III (CTR III) by the Swiss electorate on February 12 2017, the Swiss Federal Council now plans to introduce revised legislation of the tax reform quickly and has instructed the finance ministry accordingly.

March 23 2017

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