Tim Sarson’s latest summary of international developments.
Against the backdrop of COVID-19, global tax developments continued in February at pace. Poland proposed a new levy on traditional and online advertising, with funds directed at helping the country recover from the economic damage of the pandemic. European Parliament recommended formalising the process for amending the EU list of non-cooperative jurisdictions via a legally binding instrument, no later than the end of 2021. Belgium and Greece both announced an extension of DAC6 reporting deadlines. Meanwhile, in Luxembourg, a bill was passed to disallow tax deductions for interest and royalties due to associated enterprises located in a country listed as a noncooperative jurisdiction. The OECD and Australia provided greater clarity on the permanent establishment risk of employees working cross-border as a result of the pandemic. India’s finance minister presented the Budget for 2021/22 and moving to the Americas, Canada moved to cancel charges for taxpayers entering into advance pricing agreements.
In the latest of his regular articles for Tax Journal*, Tim Sarson looks back at some of the interesting developments that unfolded in February in the international tax arena. This article includes updates on the following:
* First published by Tax Journal on 26 February 2021. Reproduced with permission.
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