close
Share with your friends

International update for July

International update for July

Tim Sarson’s latest summary of international developments.

1000
Tim Sarson

Partner and Brexit Tax & Location Lead

KPMG in the UK

Contact

Also on home.kpmg

Once again, the taxation of the digital economy is the focus of this update as the US reveals its intentions to fiercely defend large US corporations that are likely to pay the bulk of the new European taxes. The US has also released new GILTI regulations which give taxpayers a high tax exception and a change to the treatment of partnerships. The UAE is attempting to align itself with international taxing standards with the introduction of Country by Country Reporting (CBCR) rules and substance requirements and we also have a corporate tax rate reduction to 25 percent for small and medium sized companies in India. There have also been further EU state aid developments in the last month including a notice of a targeted investigation into Nike in the Netherlands.

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

  • Digital services taxation in France and the UK;
  • US GILTI regulations;
  • CBCR requirements in the UAE;
  • The India Budget announcement; and
  • EU state aid developments.

* First published in Tax Journal on 26 July 2019. Reproduced with permission.

For further information please contact:

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal