International update for August

International update for August

Tim Sarson’s latest summary of international developments.

Tim Sarson

Partner, UK Head of Tax Policy

KPMG in the UK


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August has been a busy month in the tax world. The US presidential election campaign race is heating up with the Democrats officially announcing Joe Biden as their presidential candidate. Biden has released 27 preliminary tax proposals giving us a flavour of the Democrats’ tax plans. In Russia, the Federal Tax Service has clarified the assessment of intra-group service cost deductions for the purpose of tax audits conducted by local authorities signaling a new unified approach. Meanwhile, the OECD published a toolkit for the convention of Mutual Administrative Assistance which seeks to aid countries who wish to participate. There have also been updates on DAC 6 deferral, taxation of the digital economy, Ireland’s plan to stimulate its economy and India’s plan for ‘transparent taxation’.

In the latest of his regular articles for Tax Journal*, Tim Sarson looks back at some of the interesting developments that unfolded over the past month in the international tax arena. This month’s article includes updates on the following:

  • Joe Biden’s US tax proposals;
  • New guidance on tax audits from Russia;
  • An update on digital services taxes and
  • India’s plan for ‘transparent tax’.

* First published by Tax Journal on 27 August 2020. Reproduced with permission.

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