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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

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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

June 2018

27 Jun - OECD: Kazakhstan, Peru, UAE sign BEPS multilateral convention (MLI)

21 Jun - Belgium: Transfer pricing documentation, reminder of due dates

21 Jun - Nigeria: Country-by-country reporting regulations are published

21 Jun - OECD: Guidance on hard-to-value intangibles, transactional profit split method (BEPS Actions 8 and 10)

18 Jun - Luxembourg: First steps in process to transpose EU Anti-Tax Avoidance Directive (ATAD 1), to ratify multilateral instrument (MLI)

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.

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