• World Wide Tax News - Issue 39
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World Wide Tax News - Issue 39

01 November 2015

On 5 October 2015 the Organisation for Economic Co-operation and Development (OECD) published its ‘final’ reports and recommendations on base erosion and profit shifting (BEPS). The reports set out the OECD’s recommendations on the 15 action points of the BEPS package. The proposals aim to ensure that tax planning undertaken by multi-national enterprises (MNEs) is aligned with the economic substance of how they conduct their business, to achieve greater coherence and consistency between taxing authorities in how they tackle areas which might lend themselves to potential tax abuse, and to bring about increased transparency of their operations and tax planning (reflected in the new transfer pricing documentation requirements, including
Country-by-Country Reporting).

Contents

  • INTERNATIONAL: OECD publishes final BEPS recommendations
  • EUROPEAN UNION: EU Member States agree to swap companies' cross border tax rulings
  • AUSTRALIA: Multi-national tax avoidance
  • INDIA: Minimum alternate tax on foreign institutional investors (FIIs)/foreign portfolio investors(FPIs) not applicable for the period prior to 1 April 2015
  • SINGAPORE: Helping Singapore SMEs to grow roots and wings
  • CYPRUS: Introduction of non-dom regime and extensions of incentives for moving operations and substance to Cyprus
  • FRANCE: Opportunity for companies to claim tax refunds on dividend distributions
  • ISRAEL: Proposal to extent exchange of information rules
  • NETHERLANDS: New possibilities for Dutch parent companies with EU subsidiaries
  • POLAND: More safety for Polish taxpayers?
  • UNITED KINGDOM: Main corporation tax to be reduced to 18% by 2020
  • ARGENTINA: New double taxation treaty between Argentina and Chile
  • BRAZIL: The ECF replaces the DIPJ
  • EGYPT: Recent amendments