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GE/PwC deal advances trend to outsource tax functions

With corporations meeting the demands of rapidly changing regulations, increased audits, and new tax technology functions, some are overwhelmed with how much tax is influencing their business strategy – leading to a number of outsourcing arrangements. Amelia Schwanke explores whether General Electric (GE) and PwC’s recent agreement has ignited a new trend for outsourcing a business’s tax function

Amelia Schwanke, February 28 2017

Canada: Canadian committee report recommends tighter Canadian voluntary disclosure programme

Peter Lee The Canadian Minister of National Revenue announced the formation of a committee of third-party experts in April 2016, the Offshore Compliance Advisory Committee (the committee), to advise it on administrative strategies to deal with tax non-compliance.

February 28 2017

EU: EU public country-by-country reporting

Bob van der Made The EU Parliament's members of the Economic and Monetary Affairs (ECON) Committee and the Legal Affairs Committee (JURI) published their joint draft legislative recommendations on the European Commission's public country-by-country reporting (public CbCR) proposal on February 9 2017.

February 28 2017

Chile: First consultation on the applicability of the Chilean GAAR

Santiago López Ignacio Núñez The Chilean Internal Revenue Service (IRS) has been working on the new General Anti-Avoidance Rules (GAAR).

February 28 2017

Cyprus: Circular in Cyprus sheds light on transfer pricing adjustments

Anastasia Sagianni A circular issued by the Cypriot finance and tax authorities on November 24 2016 clarifies that they will also allow downwards or compensating transfer pricing (TP) adjustments.

February 28 2017

Welcome to the world of secondary adjustments

Tirthesh Bagadiya of Bagadiya & Jain looks at what he sees as the beginning of a new era in Indian transfer pricing regulations

February 28 2017

Understanding TP compliance for commencement tax returns

Companies beginning a new business venture in Nigeria face complex compliance rules on transfer pricing in the first three years. Victor Adegite and Adedayo Adebowale of KPMG Nigeria guide businesses through the possible hurdles.

February 28 2017

Poland: Poland overhauls structure of fiscal administration

Alicja Sarna Fiscal administration in Poland will face major changes in its structure and organisation from March 1 when the new law on National Fiscal Administration enters into force.

February 28 2017

Italy: VAT group regime in Italy

Andrea Rottoli The 2017 Italian Finance Act implemented the VAT group regime in Italy, laid down by Article 11 of the VAT Directive. The provisions will enter into force from January 1 2018 and the regime will be effective as of 2019.

February 28 2017

Ireland: Moscovici in Ireland to discuss CCCTB

Catherine O’Meara Olivia Long EU Commissioner Pierre Moscovici appeared before the Irish Government Committee on Finance (the committee) on January 24 2017 to answer questions on the re-launch of the common consolidated corporate tax base (the CCCTB).

February 28 2017

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