International Tax News Blog

Archives: June 2018

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  • Australia Scrutinizing Offshore Inter-Group Pricing Models

    BloombergBy: Peter Hill (Bloomberg BNA)

    The Australia Tax Office is seeking feedback on a draft risk assessment framework for inter-group pricing audits of offshore entities that purchase and re-sell business consumables at a markup. The June 27 draft relates to “non-core procurement hubs” that are often centralized companies based in low-tax jurisdictions.

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    By Hill, Peter, posted on Friday June 29, 2018
  • Belgium Attacks EU Tax Payback Order as Misuse of State-Aid Law

    BloombergBy: Stephanie Bodoni (Bloomberg BNA)

    European Union regulators misused their powers by relying on an untried theory to root out unfair competition, lawyers for Belgium and companies slapped with back tax bills told the bloc's second-highest court. They are fighting back after the European Commission said in 2016 that some 35 companies unfairly benefited from a Belgian tax program that amounted to handing out illegal state aid amounting to about 800 million euros ($926 million) in return for foreign investment.

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    By Bodoni, Stephanie, posted on Friday June 29, 2018
  • Keep Documenting Loans Even If IRS Pulls Rules, Attorneys Advise

    BloombergBy: Alison Bennett (Bloomberg BNA)

    Multinational companies shouldn't stop documenting their loans even though the IRS is proposing to drop complex requirements for such documentation under debt-equity rules, tax practitioners told Bloomberg Tax.

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    By Bennett, Alison, posted on Friday June 29, 2018
  • Poland to Propose Tougher Tax Transparency Rules Than EU

    BloombergBy: Jan Stojaspal (Bloomberg BNA)

    Poland intends to push beyond the EU's new tax transparency rules by requiring tax advisers and other intermediaries to report both cross-border and domestic tax-planning arrangements that are potentially aggressive.

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    By Stojaspal, Jan, posted on Friday June 29, 2018
  • OECD Super Treaty Could Impact Holding Company Structures

    BloombergBy: Isabel Gottlieb (Bloomberg BNA)

    Nations will soon have a new tool to combat tax avoidance, but some tax professionals worry that authorities will take advantage of its ambiguities to challenge some of multinational companies’ favorite business structures.

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    By Gottlieb, Isabel, posted on Friday June 29, 2018
  • U.K. Companies Reveal Finance Structures in Scope of EU Tax Probe

    BloombergBy: Ben Stupples (Bloomberg BNA)

    British businesses are disclosing details of their financing structures targeted through a European Union probe into a U.K. tax scheme, shedding light on global companies’ offshore planning.

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    By Stupples, Ben, posted on Friday June 29, 2018
  • U.K. Government Clears Path for Global Tax Treaty Revolution

    BloombergBy: Ben Stupples (Bloomberg BNA)

    The U.K. government has cleared the way for scores of its tax treaties with other countries to change as part of the OECD's project to crack down on tax avoidance among multinational businesses. The U.K. submitted its formal letter of ratification for the project's multilateral instrument (MLI) June 29.

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    By Stupples, Ben, posted on Friday June 29, 2018
  • Australia Targets Foreign Companies in New Tax Disclosure Rules

    BloombergBy: Peter Hill (Bloomberg BNA)

    The Australian tax authority is extending its rules for disclosure, of contestable tax positions to large and multinational companies with annual turnovers of more than A$250 million ($184 million). Companies that meet the threshold must now complete and file their “Reportable Tax Position” (RTP) questionnaire with their 2018 tax return.

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    By Hill, Peter, posted on Thursday June 28, 2018
  • Australian Lawmakers Push to Publish Private Company Tax Records

    BloombergBy: Peter Hill (Bloomberg BNA)

    The tax records of all private companies in Australia earning between A$50 million ($37 million) and A$200 million may become public under a bill now facing the House of Representatives. Lawmakers in the Senate passed the bill June 25. The push fits into broader efforts to crack down on tax avoidance.

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    By Hill, Peter, posted on Thursday June 28, 2018
  • Multilateral Instrument Gets Three Ratifications, Four Signatures

    BloombergBy: Isabel Gottlieb (Bloomberg BNA)

    New Zealand, Serbia, and Sweden joined the small but growing group of jurisdictions that will begin to see their tax treaties modified by a first-of-its-kind multilateral tax treaty in 2019, the OECD announced in a June 27 statement.

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    By Gottlieb, Isabel, posted on Thursday June 28, 2018


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