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International update for March

International update for March

Tim Sarson’s latest summary of international developments.

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Tim Sarson

Partner and Brexit Tax & Location Lead

KPMG in the UK

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The EU continues to search for a digital services tax solution. France sets out its unilateral measures, whilst the OECD attempts to achieve consensus around a broader global position. Also in the EU, the European Commission has launched an investigation into Luxembourg’s tax rulings on interest-free loans, further territories are added to the EU blacklist (with Bermuda and the UAE being notable additions), and member states have agreed measures, needed to simplify the VAT collection rules for sales of goods online. Further afield, there are changes to Hong Kong tax law, including a new transfer pricing regulation, and in China there are new filing rules and requirements for 2018 corporate income tax returns.

In the latest of his regular articles for Tax Journal*, Tim Sarson rounds up recent international developments. This month’s article looks at the:

  • EU, OECD and French activity in the taxation of the digital economy sphere;
  • EU VAT collection rules for online sales;
  • EC investigation into Luxembourg rulings on interest-free loans; 
  • EU blacklist of non-cooperative jurisdictions;
  • Hong Kong compliance changes for 2018/19; and
  • New Chinese corporate income tax return filing rules and requirements for 2019.

* First published in Tax Journal on 29 March 2019. Reproduced with permission

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