International review for April

International review for April

Tim Sarson’s latest summary of international developments.

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Tim Sarson

Partner, UK Head of Tax Policy

KPMG in the UK

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Biden’s tax agenda dominated April’s headlines following proposals which, among other things, would increase the taxation of corporations, both at a national and an international level; however, given the Democrats’ narrow majority in Congress, compromises may be needed on some of the measures, including the proposed 28 percent corporation tax rate. Notably, the Biden administration has also thrown its weight behind a multilateral solution for a global minimum tax rate and put forward new proposals for international reform to the OECD. Meanwhile, progress was also made on tax transparency; there were updates on the EU mandatory disclosure rules; and the OECD has provided an update on treaty shopping and announced a consultation on proposed changes to the commentary on Article 9 of the Model Tax Convention. Finally, one year on from the outbreak of the pandemic, tax rises are increasingly on the horizon for many countries.

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

  • Biden’s ‘Made in America tax plan’ report.
  • The US Trade Representative’s digital service tax investigations.
  • The OECD’s tax transparency agenda and progress on the implementation of the EU mandatory disclosure rules across Europe.
  • Double tax treaties and treaty shopping.
  • COVID-19 one year on.

* First published by Tax Journal on 30 April 2021. Reproduced with permission.

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