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BEPS

BEPS

TaxNewsFlash-BEPS — KPMG's reports of developments of interest to multinationals on the OECD's base erosion and profit shifting (BEPS) initiative and tax transparency.

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TaxNewsFlash-BEPS

BEPS Action 13: Latest country implementation update

Updated weekly, this summary report in table format offers a snapshot of implementation of country-by-country (CbC) reporting and Master file / Local file documentation requirements around the world. Read more >

July 2018

25 Jul - United States: IRS updates country-by-country reporting guidance, information

24 Jul - Australia: Proposal to expand “significant global entity” definition, aligning country-by-country reporting with OECD model requirements

24 Jul - Belgium: Civil penalties for transfer pricing documentation compliance failures

23 Jul - OECD: Annual report on status of BEPS Inclusive Framework

18 Jul - Netherlands: Implications of Dutch transfer pricing decree on OECD discussion draft on transfer pricing of financial transactions

13 Jul - Nigeria: Country-by-country reporting guidelines

12 Jul - France: Transfer pricing documentation requirements, clarified and detailed

11 Jul - Luxembourg: Bill to ratify multilateral instrument (MLI) into domestic law

11 Jul - KPMG report: Initial impressions of OECD discussion draft on transfer pricing for financial transactions

10 Jul - Curaçao: Legislation implementing BEPS recommendations includes transfer pricing reporting obligations

6 Jul - France: Update on multilateral instrument (MLI) ratification

6 Jul - New Zealand: New BEPS law enacted, includes transfer pricing measures

5 Jul - Hong Kong: Passage of transfer pricing legislation (BEPS bill); most provisions effective from assessment year 2018/2019

5 Jul - India: Guidance on confidentiality, appropriate use of country-by-country reports

3 Jul - Nigeria: Transfer pricing update, including country-by-country reporting

3 Jul - OECD: BEPS discussion draft, transfer pricing aspects of financial transactions

March 2018

30 Mar - United States: IRS guidance on country-by-country reporting by “specified national security contractors”

26 Mar - Argentina: Country-by-country notification deadline extended to 2 May 2018

23 Mar - UK: Voluntary preparation of Master file, Local file documentation; UK-parented multinational entities

23 Mar - OECD: Multilateral BEPS convention (MLI) entry into force 1 July 2018 (Slovenia, Austria, Isle of Man, Jersey, Poland)

22 Mar - EU: Guidelines from European Commission, avoid channeling EU funds through non-cooperative tax jurisdictions (EU “blacklist”)

22 Mar - OECD: Additional guidance on attribution of profits to permanent establishments (BEPS Action 7)

21 Mar - EU: Proposals for taxation of digital businesses

20 Mar - Nigeria: Country-by-country reporting to be added to transfer pricing rules

20 Mar - Netherlands: Update about multilateral instrument (MLI)

16 Mar - OECD: Interim report, tax challenges from digitalisation (BEPS)

16 Mar - Poland: Extended deadline for transfer pricing documentation requirements

16 Mar - India: Lower house passes Finance Bill 2018; changes to country-by-country reporting, Master file rules

13 Mar - EU: Disclosure rules, reportable cross-border arrangements by tax advisers

12 Mar - OECD: Improving tax dispute resolution mechanisms under BEPS Action 14, including MAP access

9 Mar - Australia: Hybrid mismatch arrangements (BEPS Action 2); revised draft legislation for public consultation

7 Mar - EU: Aggressive tax planning; focus on interest, royalties, transfer pricing

6 Mar - Mauritius: Country-by-country reporting regulations, effective July 2018

May 2017

31 May - OECD: Djibouti joins BEPS inclusive framework

30 May - OECD: Initial impressions about discussion draft, hard-to-value intangibles

30 May - OECD: Peer review, assessing BEPS Action 6 minimum standard

30 May - Pakistan: Transfer pricing audit, penalty provisions in budget 2017

30 May - Turkey: Transfer pricing provisions and country-by-country reporting rules

26 May - KPMG report: Potential ripple effects of BEPS reforms, beyond tax issues

24 May - Israel: Update on status of country-by-country reporting

23 May - OECD: Discussion draft, guidance on hard-to-value intangibles

19 May - India: Cabinet approves signing of multilateral convention for BEPS purposes

18 May - France: Country-by-country reporting notification and filing requirements

11 May - Korea: Update on country-by-country reporting, transfer pricing rules

9 May - India: Status of country-by-country reporting

8 May - Australia: BEPS, business travelers and permanent establishments

4 May - OECD: Country-by-country reporting implementation status; exchange relationship between tax administrations

April 2017

25 Apr - Costa Rica: Master file, Local file and other recordkeeping requirements

23 Apr - Russia: Updated country-by-country reporting, transfer pricing documentation proposals

21 Apr - Netherlands: Measures on exchanging country-by-country reports

19 Apr - Global M&A landscape changing due to BEPS recommendations

19 Apr - Australia: Country-by-country reporting, Local and Master files detailed design

13 Apr - Asia: Preparing for BEPS Action 1

13 Apr - Czech Republic: Proposed amendment requires multinational groups to prepare country-by-country report

13 Apr - OECD: Belize and Cayman Islands join BEPS inclusive framework

13 Apr - OECD: Global forum discussing VAT systems

10 Apr - UK: Transfer pricing dispute resolution, new remedies reflecting BEPS recommendations

Taxation of the Digitalized Economy

KPMG's reports of developments concerning the tax treatment of the digital economy, including digital services tax and the taxation of online, remote sales

>> Read more

 

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