Global News
IRS investigates The Transfer Pricing Position Of US Ride-Hailing Company
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June 6th, 2019
Uber Technologies Inc. is being examined by U.S. tax authorities and said that its potential tax charges in a number of key markets could change. The ride-hailing company expects unrecognized tax benefits to be reduced within the next year by at least $141 million.
OECD Releases Workplan On New Rules For Taxing Digital Multinational Enterprises
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June 4th, 2019
The Organization for Economic Co-operation and Development (OECD) released its document Program of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalization of the Economy.
Following a Policy Note released in January 2019, the Inclusive Framework has continued to develop the proposals presented earlier under the two Pillars used to organize the ongoing work.
Tax Justice Network Reveals New Ranking Of Corporate Tax Havens Behind Breakdown Of Global Corporate Tax System
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May 31st, 2019
Noting the report published by IMF, forty per cent of today’s cross-border direct investments, which are around $18 trillion in value, are being booked in just 10 countries that offer corporate tax rates of 3 per cent or less. In this regard, Tax Justice Network (TJN) published the Corporate Tax Haven Index to identify which countries most responsible for the breakdown of the global corporate tax system.
Israeli Court Rules Bitcoin Is An Asset Subject To Capital Gain
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May 23rd, 2019
The Israeli court has ruled that bitcoin is an asset and not a currency, and thus subject to capital gains tax (CGT). Therefore it is in feud over tax payment.
EU Planning To Remove Bermuda, Aruba and Barbados From Tax Haven Blacklist
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May 14th, 2019
The European Union is planning to remove the British overseas territory of Bermuda, the Dutch Caribbean island of Aruba and Barbados from the bloc’s blacklist of tax havens at a meeting on May 17. The removals are due to the changing of their corporate law.
UN Tax Committee To Update The United Nations Practical Manual On Transfer Pricing For Developing Countries
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April 11th, 2019
The UN Committee of Experts on International Cooperation in Tax Matters published a draft document to update the United Nations' Practical Manual on Transfer Pricing for Developing Countries. The draft includes a new chapter on financial transactions, revised text on profit splits, and revised text on establishing transfer pricing capability, risk assessment and transfer pricing audits.
UN Tax Committee Proposes To Update The Model Tax Treaty
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April 5th, 2019
The UN Committee of Experts on International Cooperation in Tax Matters published several documents in tax matters. Two of the documents are discussing possible updates to the UN Model Double Taxation Convention between Developed and Developing Countries commentary on permanent establishments and beneficial ownership.
OECD Proposals Undermine The Arm’s Length Principle
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March 29th, 2019
The Organisation for Economic Cooperation and Development (OECD) recently released a policy note (approved by the 127 members of its Inclusive Framework (IF)), hosted a webcast and held a public consultation meeting to consider possible solutions to the tax challenges arising from digitalization of the economy.
The policy note recognizes that the digitalization of the economy is pervasive, raises broader issues, and is most evident in, but not limited to, highly digitalized businesses.
OECD Beneficial Ownership Toolkit To Build Up Tax Transparency
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March 21st, 2019
The OECD has released a beneficial ownership toolkit, which will give law enforcement access to information on beneficial owners of companies to make it more difficult for criminals to hide illicit tax evasion activities.
Background .
IMF Publishes Policy Paper To Assess International Tax Reform Proposals
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March 14th, 2019
The International Monetary Fund (IMF) has published a policy paper on Corporate Taxation in the Global Economy. Through its paper, the IMF has stressed that international tax rules should be reformed to prioritize reducing the glaring inequalities that lower-income countries face when it comes to their taxing rights.
Many Countries Keen To Modify Their Tax Treaty Network Against Treaty Abuse
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February 20th, 2019
The Organisation for Economic Co-operation and Development (OECD) released the first peer review report relating to the compliance by members of the Inclusive Framework (IF) on Base Erosion and Profit Shifting to the minimum standard on BEPS Action 6 for prevention of treaty abuse. The report covers 116 jurisdictions and information available as of 30 June 2018.
U.S. Territories Included in EU Money Laundering Blacklist
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February 14th, 2019
The European Commission issued the black list for money laundering on 13 February 2018. The list also consists of four U.S. territories including Guam, American Samoa, U.
OECD - Progress On Addressing The Tax Challenges Arising From Digitalization Of The Economy And Harmful Tax Practices
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January 31st, 2019
The OECD has issued a release announcing that the international community has made important progress towards addressing the tax challenges arising from the digitalization of the economy and has agreed to continue working multilaterally towards achievement of a new consensus-based long-term solution in 2020. In addition, the OECD has also issued a release on progress made in addressing harmful tax practices.
EU Adds Saudi Arabia On Blacklist For Lax Control On Money Laundering
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January 29th, 2019
The European Commission has added Saudi Arabia to an EU draft list of countries that pose a threat to the bloc because of lax controls against terrorism financing and money laundering. According to Reuters’ source, the move comes amid heightened international pressure on Saudi Arabia after the murder of Saudi journalist Jamal Khashoggi in the kingdom’s Istanbul consulate on Oct.
OECD Advisory Group Sets Out Framework For Digital Tax Reform
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January 24th, 2019
The OECD’s Advisory Group, Business and Industry Advisory Committee (BIAC), released a report on “Business Principles for Addressing the Tax Challenges of the Digitalizing Economy”. The group set out 11 principles that should be taken into account as nations work to update the international tax rules to account for the modern economy.
Dutch Court Confirms The Most-Favored-Nation (MFN) Clause Under The Treaty Between The Netherlands And South Africa
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January 22nd, 2019
On 18 January 2019, the Supreme Court (Hoge Raad der Nederlanden) rendered its decision in case No. 17/04584 on the application of the most-favored-nation (MFN) clause contained in the Netherlands - South Africa Income and Capital Tax Treaty (2005) (as amended through 2008) (the Treaty).
OECD Launches Its Statistic Report: Corporate Tax Remains A Key Source Revenue Amidst The Looming Trend In Slashing The Tax Rate
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January 15th, 2019
The Organization for Economic Co-operation and Development (OECD) launched its corporate tax statistics report on 15 January 2019. The report provides internationally comparable statistics and analysis from around 100 countries worldwide on four main categories of data: corporate tax revenues, statutory corporate income tax (CIT) rates, corporate effective tax rates and tax incentives related to innovation.
Cayman Islands Fires Back At The Netherlands Over Black listing
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January 14th, 2019
The government of the Cayman Islands has issued a response to its "blacklisting" by the Netherlands as a low-tax jurisdiction.
Measures Taken
Ireland And The US Seeking Global Tax Fix For Digital Economy
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December 13th, 2018
According to an official speech released by the Irish Government, the US and Ireland agree that a global solution for taxation in the digital era is best achieved through the OECD. Irish Finance Minister Paschal Donohoe explained that an OECD-facilitated consensus could drive progress towards tax cooperation without creating the trading risks that can arise under unilateral measures.
IRS Publishes Joint Statement With France On The Spontaneous Exchange Of CbC Reports For 2017
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December 13th, 2018
On 11 December 2018, the U.S. IRS published a joint statement with the competent authority of France on the spontaneous exchange of Country-by-Country (CbC) reports for reporting fiscal years beginning in 2017. This statement is one of the practical effects of the OECD and G20 initiatives to tackle base erosion and profit shifting (the BEPS action plan) that both countries publicly announced to adhere to.

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