Weekly Round-Up

OECD Pilot Program to Provide a "Trusted Space" for Businesses

A recent article in Bloomberg BNA discussed the OECD pilot program launched in late January that will give businesses a "trusted space to review tax risks with multiple countries at once." [Full Article]

The pilot scheme, as previously reported, involves eight jurisdictions (Australia, Canada, Italy, Japan, the Netherlands, Spain, UK, and US) using "CbC Reports and other information to facilitate open and co-operative multilateral engagements between MNE groups and tax administrations, with a view to providing early tax certainty and assurance."

Australia Government Seeks Comments on Exposure Draft Legislation


The Australian Government is seeking stakeholder comments on its just-released Exposure Draft Legislation, which will implement the OECD's Multilateral Convention and effectively "modify a majority of Australia's bilateral tax treaties to implement the relevant BEPS outcomes." [More Information]

The full "Exposure Draft" and "Exposure Draft Explanatory Materials" are available on the Australian Treasury's website.

OECD Releases Further BEPS Guidance


On 8 February, the Organisation for Economic Co-Operation and Development (OECD) announced the release of "additional guidance to give certainty to tax administrations and MNE Groups alike on the implementation of Country-by-Country reporting (BEPS Action 13).” [Continue Reading]

Impact of US Tax Reform on Banks and Tech Firms

A recent conference in Washington, DC brought together academics, economists, government officials, and tax practitioners to examine the impact of U.S. tax changes on banks and tech firms. The conference, organized by Georgetown Law's Institute of Economic Law and the International Tax Policy Forum, also focused on the "new law’s base erosion and anti-abuse tax (BEAT) provisions, specifically the BEAT's impact on foreign banks, as leverage in negotiations with the EU on the taxation of US tech companies. [More Information]

Jordan Approves Amended GST Law


In early January, Jordan's Council of Ministers approved changes to the General Sales Tax (GST) law, including amendments that will double the rate of the special tax on soft drinks from 10 to 20 percent. More information on the amended GST law is available in EY's 24 January "Indirect Tax Alert."

European Commission Expected to Table Digital Economy Taxation Legislation in March

EC logo.png

In a 30 January letter sent to the EU Council's High Level Working Party on Tax Issues, the Bulgarian Presidency announced its intention to start the technical examination of the legislative proposal on EU rules on taxation of profits of multinational corporations in the digital economy. [More Information]

ITIC Endorsed Event: 2018 TCPI Symposium


Over the years, ITIC has cooperated with the Tax Council Policy Institute (TCPI), a Washington, DC association of top corporate tax officers. The Tax Council organizes high-quality events that bring together excellent speakers addressing the most relevant current and future taxation issues.  

Registration is still open for the 19th annual Tax Policy & Practice Symposium, Disruption and opportunity in the era of global tax transformation, which will be held on 15-16 February 2018 in Washington, DC.

For quick reference, the conference brochure can be viewed here.