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April 26th, 2016
The latest news

The latest news

Are you currently preparing your own Value Chain Analytics (VCA) for Tax/Transfer pricing purposes?
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April 26th, 2017
Free One to One Consultation (Reserve a slot with one of our Professionals!)
How are you preparing for your value chain in China?
The United Arab Emirates Sign The Multilateral Convention On Mutual Administrative Assistance in Tax Matters
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April 26th, 2017
On April 21, the OECD informed that the United Arab Emirates signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. By doing so, the United Arab Emirates became the 109th signatory to the convention.
Mossack: The Number Of US Tax-Shelters Increase After Panama Papers
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April 26th, 2017
Juergen Mossack, who partnered with Ramon Fonseca to create the Panamanian firm Mossack Fonseca, said in a document that the number of tax shelters has been decreasing in many tax havens while raising in the US jurisdictions such as Delaware or Nevada.
Panama Papers Adopts Transparency
LATAM Country Summaries Update
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April 25th, 2017
Based on our day-to-day projects involving country specific requirements, TPA Global has created accurate and practical country summaries, which multinationals can utilize to make their country specific documentation packages in full compliance with local transfer pricing law and regulations.
Updates
EU Releases Study On Impact Of Panama Schemes
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April 21st, 2017
The European Parliament's PANA Committee on Money Laundering, Tax Avoidance and Tax Evasion published a study on the "Impact of Schemes revealed by the Panama Papers on the Economy and Finances of a Sample of Member States." The impact is measured from a financial, economic and budgetary point of view.
France Might Be A New Tax Haven For Investors in India
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April 21st, 2017
During a meeting with financial ministry officials in India, global financial giant Citi pointed out that foreign funds and global banks are taking advantage of India’s treaty with France to escape tax. India might soon review its tax treaty with France to address issuance of participatory notes in France, reports The Economic Times.
Sweden May Force Tax Advisers To Report Clients
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April 18th, 2017
The Swedish finance ministry said in a statement that it has set up a parliamentary commission to examine whether tax advisers should be required to report clients who use tax avoidance structures, International-Adviser informed.
Advisors to Report Clients
Ghana And Czech Republic Sign Double Taxation Agreement
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April 18th, 2017
Ghana and the Czech Republic have signed a double taxation agreement to prevent fiscal evasion with respect to taxes on income. The countries also agreed on enhancing the mutual assistance in the collection of taxes.
Australian Tax Office Explains Detailed Design Of CbC Reports
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April 18th, 2017
The Australian Taxation Office (ATO) released additional guidance with an overview of the detailed design of the local file / master file. The guidance addresses IT specifications for software developers to use in business management software to enable the generation of a valid XML file.
Tech Giant Slapped By Korea's Tax Agency
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April 15th, 2017
The National Tax Service (NTS) has imposed a US$ 275.74 million fine on Oracle Korea for alleged tax evasion involving tax haven during the period of seven years.
OECD Meets to Discuss VAT Challenges
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April 15th, 2017
On April 12-14, the OECD Global Forum holds its fourth meeting on Value Added Tax (VAT; also known as Goods and Services Tax, under the acronym GST in a number of OECD countries) addressing the policy and operational challenges faced by tax authorities. On that occasion, the OECD published The International VAT/GST Guidelines that were adopted as a Recommendation by the Council of the OECD in September 2016.
UN Releases TP Manual For Developing Countries
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April 13th, 2017
During UN meetings last week, the UN’s Committee of Experts on International Cooperation in Tax Matters released an updated version of the 'United Nations Practical Manual on Transfer Pricing for Developing Countries,' the MNE Tax reported.
Background: UN Committee
Hong Kong Updates Guidance for Financial Institutions
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April 13th, 2017
The Inland Revenue Department of the Government of Hong Kong released updated versions of Chapters 11 and 12 of the Guidance for Financial Institutions. The changes include the procedures that reporting financial institutions must apply.
Germany Provides Status Update On The 10 Step Plan
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April 13th, 2017
The German Ministry of Finance provided a status update on the 10 step plan, released in April 2016 as a reaction to Panama Papers to combat tax fraud, de­vi­ous tax avoid­ance and mon­ey laun­der­ing, the International Tax Plaza reported.
Background: Schaeuble's 10-Point Plan
Amsterdam Workshop Value Chain Analysis for Corporates
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April 10th, 2017
!Attention: the VCA Workshop on May 3rd, 2017, is fully booked - therefore we can offer you an identical workshop on May 30th, 2017, with the same agenda and venue location.
Value Chain Analysis workshop for corporations in Amsterdam - the bridge to align the operating model, corporate governance framework and the tax/ transfer pricing structure of MNE
Singapore Workshop Value Chain Analysis for Corporates
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April 10th, 2017
Value Chain Analysis workshop for corporations in Singapore - the bridge to align the operating model, corporate governance framework and the tax/ transfer pricing structure of MNE
You are running major company and individual risks for not having prepared a Value Chain Analysis fully synced with your traditional transfer pricing compliance.
The implementation Of BEPS Action Plan 13 In LATAM
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April 7th, 2017
The implementation of BEPS Action Plan 13 in LATAM
Tax administrations and international economic organizations have reached consensus for implementing international measures that will promote tax transparency amongst the business community.
Romanian Transfer Pricing Requirements
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April 6th, 2017
A readiness check on whether your Romanian subsidiary is fulfilling the local transfer pricing requirements.
Transfer pricing is a hot subject for companies operating in Romania.
EU Court To Review German Law Regarding Withholding Tax
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April 6th, 2017
The European Court of Justice has published a request for preliminary ruling filed by Finanzgericht Köln, which challenged German law that denies relief from withholding tax on some distributions of profits made to a nonresident parent companies.
Article 43 EC
Hong Kong To Exchange Information With Portugal And South Africa
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April 6th, 2017
The Inland Revenue Department of Hong Kong announced that Hong Kong has signed agreements with Portugal and South Africa for conducting automatic exchange of financial account information in tax matters (AEOI).
Background: Hong Kong Support AEOI
ATO To Recover $2.9 Billion From Seven Multinationals
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April 6th, 2017
On April 6, Australian Treasurer Scott Morrison said that Australia can claim $2.9 billion from seven audits of multinational companies, which are expected to be finalized before July.
UN Discusses International Cooperation In Tax Matters
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April 4th, 2017
During its 14th session run on 3 - 6 April, the UN Committee of Experts on International Cooperation in Tax Matters released several documents including modifications to the UN Model Double Taxation Convention between Developed and Developing Countries and draft guidance on transfer pricing issues in Extractive industries.
BEPS Changes to UN Model DT Convention
Singapore And Ghana Sign DTA
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April 4th, 2017
The Singapore Government announced that it signed an Agreement for the Avoidance of Double Taxation (DTA) with the Republic of Ghana on March 31.
Background
Technology Solutions In A Post-BEPS World
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April 4th, 2017
There has been a complete paradigm shift in global taxation with the rise in audit risks caused by new global initiatives like the OECD’s BEPS Project.
JD Choi, CEO at Tax Technologies and TPA Global Member, explores the technology solutions that should be administered to mitigate these audit risks in a post-BEPS world.
OECD Publishes New Report on Technology Tools
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March 31st, 2017
The OECD published 'Technology Tools to Tackle Tax Evasion and Tax Fraud' report, which provides overview of the technology tools that tax authorities have implemented to address tax evasion and tax fraud.
Technology Tools Report
UK Amends Country-By-Country Reporting
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March 31st, 2017
On March 30, the UK Her Majesty’s Revenue & Customs (HMRC) published amendments to Country By Country (CbC) reporting that extend the original statutory requirements to partnerships and adds new obligations for UK entities.
Updates
Exposing The Real Economic Activity Of European Banks
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March 28th, 2017
On March 27, Oxfam published a report based on an analysis of Country-by-country reporting data exposing Europe’s 20 biggest banks that are registering over a quarter of their profits in tax havens, but just 12% of their revenue and 7% of their employees.
Oxfam Report
OECD Publishes Comments Received on BEPS Action 6
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March 28th, 2017
OECD publicly published 33 comments received on draft examples prepared as part of the follow-up work on the interaction between the treaty provisions of the report on BEPS Action 6 and the treaty entitlement of non-CIV funds.
Treaty Entitlement Of Non-CIV Funds
European Parliament Agrees on Hybrid Mismatch Amendments
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March 28th, 2017
EU Economic and Monetary Affairs Committee MEPs have voted in favor of amendments on EU’s anti-tax avoidance directive on Hybrid Mismatch with regards to third countries by 44 votes to 0 with 2 abstentions.
Background: Hybrid Mismatch
Amazon Wins $1.5 Billion Dispute With IRS
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March 25th, 2017
On March 23, Amazon won more than $1.5 billion tax dispute with the Internal Revenue Service (IRS) over transactions involving a Luxembourg unit.
News
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April 26th, 2016
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