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ATO: Multinationals Not Engaging In Tax Evasion

Mary Swire,, Hong Kong // 25 April, 2017

The Australian Taxation Office has said it has "not seen significant evidence of large multinationals involved in tax evasion."
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UN Updates Transfer Pricing Practice Manual

Mike Godfrey,, Washington // 20 April, 2017

The United Nations Committee of Experts on International Cooperation in Tax Matters has released, in digital format, the second edition of the UN Practical Manual on Transfer Pricing for Developing Countries.
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BEPS Inclusive Framework Meeting Held In Georgia

Ulrika Lomas,, Brussels // 17 April, 2017

50 delegates from 14 countries gathered in Georgia on April 7, 2017, to participate in the second regional meeting for the Eastern Europe and Central Asia region under the OECD's new inclusive base erosion and profit shifting project framework.
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Stop Tax Haven Abuse Act Reintroduced In US Congress

Mike Godfrey,, Washington // 07 April, 2017

On April 5, 2017, US Representative Lloyd Doggett (D - TX), a senior member of the House Ways and Means Committee, and Senator Sheldon Whitehouse (D - RI), a member of the Senate Budget Committee, introduced legislation to tackle multinational tax avoidance.
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Australia To Pursue Seven MNEs Under New Anti-Avoidance Law

Mary Swire,, Hong Kong // 06 April, 2017

The Australian Government has announced that the tax office has assessed AUD2.9m (USD2.2m) in tax liabilities against a group of seven multinational companies.
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Australian DPT Legislation Passes Senate

Mary Swire,, Hong Kong // 27 March, 2017

The Australian Senate has passed legislation to introduce a diverted profits tax from July 1, 2017.
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Uber Canada Concerned Over Ride-sharing Tax Reform

Mike Godfrey,, Washington // 24 March, 2017

Uber Canada has said that changes to the goods and services tax rules for ride-sharing businesses will "hurt over a million Canadians who use ride-sharing to earn income and get around their cities."
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UK Barrister To Argue Uber Responsible For UK VAT Dues

Jason Gorringe,, London // 24 March, 2017

In the embattled ride-sharing app's latest tax skirmish, Uber is being sued in the UK in relation to potential VAT underpayment.
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OECD Schedules Next BEPS Webcast For March 28

Ulrika Lomas,, Brussels // 22 March, 2017

Registration is open for an OECD webcast that will provide an overview of the latest international tax reform developments.
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Australian Miners: Diverted Profits Tax Law 'Flawed'

Mary Swire,, Hong Kong // 20 March, 2017

The Senate Economics Committee's March 20 decision to endorse the Government's legislation for a Diverted Profits Tax represents a failure of Parliament to properly scrutinize the legislation, the Minerals Council of Australia has said.
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OECD, IMF Reports On Providing Businesses With Tax Certainty

Ulrika Lomas,, Brussels // 20 March, 2017

The OECD and the International Monetary Fund have submitted to the Group of Twenty nations a report on improving tax certainty for businesses.
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ATO Guides On Disclosure Of International Related Party Agreements

Mary Swire,, Hong Kong // 08 March, 2017

The Australian Tax Office has issued guidance on to what extent multinationals should comply with the transfer pricing documentation requirement, as part of providing a local file, that requires the disclosure of International Related Party agreements.
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New Zealand Launches Consultation On New BEPS Measures

Mary Swire,, Hong Kong // 06 March, 2017

New Zealand's Inland Revenue Department has published three consultation documents on measures to address international tax avoidance through base erosion and profit shifting.
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Moody's: Brexit, US Tax Reform Dual Threats To Ireland

Jason Gorringe,, London // 03 March, 2017

Ratings agency Moody's has said that the Irish economy faces risks from the impact of Brexit and the prospect of US corporate tax reforms.
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EU: Switzerland Should Move Quickly On Tax Reform

Ulrika Lomas,, Brussels // 01 March, 2017

The European Council has urged Switzerland to take swift action to reform its corporate tax system in the wake of last month's referendum result.
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Hong Kong Ends Business Registration Fee Waiver

Mary Swire,, Hong Kong // 27 February, 2017

Hong Kong's Inland Revenue Department has confirmed that business registration fees for business registration certificates will become payable again from April 1.
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APEC Nations Discuss BEPS Implementation

Mary Swire,, Hong Kong // 27 February, 2017

Representatives from the Asia-Pacific Economic Cooperation countries discussed the implementation of base erosion and profit shifting recommendations at a seminar on February 22, 2017.
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EU Concerned By Ireland's Narrow Tax Base

Ulrika Lomas,, Brussels // 24 February, 2017

The European Commission has expressed concerns about Ireland's narrow tax base and its reliance on corporate tax receipts.
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More Criticism Of Proposed US Border Adjustment Tax

Scott Hamilton,, Washington // 23 February, 2017

Americans for Affordable Products, a business coalition that opposes the proposed border adjustment tax, has responded to the February 21 letter to leading US lawmakers from the American Made Coalition supporting border adjustability.
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EU Reaches Agreement On Tackling Hybrid Mismatches

Ulrika Lomas,, Brussels // 22 February, 2017

On February 21, 2017, the European Council reached a compromise on a new Directive aimed at closing down hybrid mismatches between EU tax systems and those of non-EU countries.
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Ireland Heavily Reliant On MNE Corporate Tax Payments: Review

Jason Gorringe,, London // 22 February, 2017

As part of a review of corporate tax policy, the Irish Finance Ministry has said reliance on tax revenues from foreign-owned multinationals is contributing "to the volatility and unpredictability of corporate tax receipts."
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ECJ Publishes Apple's State Aid Appeal

Ulrika Lomas,, Brussels // 21 February, 2017

Apple has claimed that the European Commission erred in its interpretation of Irish law and violated the principle of legal certainty in ordering the recovery of alleged illegal state aid granted to Apple.
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Singapore's 2017 Budget Includes International Tax Changes

Mary Swire,, Hong Kong // 21 February, 2017

Singapore's Finance Minister, Heng Swee Keat, has presented the country's latest budget, which includes proposals for a new safe harbor rule and a preferential intellectual property tax regime.
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Irish FM Criticizes EU's BEPS Response

Jason Gorringe,, London // 20 February, 2017

Irish Finance Minister Michael Noonan has criticized the EU's proposals for a common consolidated corporate tax base and public country-by-country reporting as "against the BEPS consensus."
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Philippines Revenue To Penalize Banks For Late E-Payments

Mary Swire,, Hong Kong // 20 February, 2017

Philippine Department of Finance Secretary Carlos Dominguez III has approved a new revenue regulation, which would make banks, and not taxpayers, liable for late- or non-payment of taxes for electronic payments.
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Hong Kong Ranked As Freest Economy For 22nd Year

Mary Swire,, Hong Kong // 17 February, 2017

For the 22nd consecutive year, Hong Kong has maintained its position as the world's freest economy in the 2017 Index of Economic Freedom from the Heritage Foundation.
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Australian Company Directors Seek Better Whistleblower Protections

Mary Swire,, Hong Kong // 16 February, 2017

The Australian Institute of Company Directors has called for significantly stronger and broader whistleblower protections.
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Australia Consults On Beneficial Ownership Reporting Options

Mary Swire,, Hong Kong // 13 February, 2017

The Australian Government has launched a consultation on how to improve transparency surrounding the beneficial ownership of companies.
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EU Presidency Pushing BEPS Agenda

Ulrika Lomas,, Brussels // 09 February, 2017

On February 6, the EU Council released a Roadmap for the tax reform measures that are being progressed by the Maltese Presidency of the European Union.
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Ireland Updates Guidance On Tax Ruling Info Exchange

Amanda Banks,, London // 08 February, 2017

The Irish tax agency has updated its guidance on the automatic exchange of information on tax rulings between EU member states.
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UK MNE Tax Compliance Yield Dips 'Temporarily'

Jason Gorringe,, London // 06 February, 2017

The amount of additional corporation tax collected by HM Revenue and Customs following its investigations into big businesses fell by 25 percent last year, with receipts of GBP2.6bn (USD3.24bn), according to Pinsent Masons, the international law firm.
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Irish FinMin Guides On New Beneficial Ownership Rule

Jason Gorringe,, London // 06 February, 2017

The Irish Finance Ministry has issued guidance on a new EU anti-money laundering regulation on the reporting of beneficial ownership information.
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ATO Issues Guidance On Tax Risk Management

Mary Swire,, Hong Kong // 03 February, 2017

The Australian Taxation Office has published a guide on tax risk management and corporate governance.
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Australia Says Corporate Tax Cut, Free Trade A Win-Win

Mary Swire,, Hong Kong // 01 February, 2017

Australian Prime Minister Malcolm Turnbull has said that if the country had a 25 percent corporate tax rate today "full-time workers on average weekly earnings would have an extra AUD750 (USD570) in their pockets each and every year."
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Firms Anticipate Rise In TP Controversy Post BEPS

Jason Gorringe,, London // 01 February, 2017

Tax professionals are anticipating a sharp rise in transfer pricing-related controversy as a result of the implementation of base erosion and profit shifting measures, a recent survey had found.
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OECD Progresses With MAP Peer Review Work

Ulrika Lomas,, Brussels // 31 January, 2017

The OECD is seeking taxpayers' input on the mutual agreement procedure frameworks in place in the second batch of countries that will now be peer reviewed under Action 14 of the OECD's base erosion and profit shifting Action Plan.
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OECD Releases Draft TP Toolkit For Developing Nations

Ulrika Lomas,, Brussels // 25 January, 2017

A draft toolkit designed to assist developing countries to build strong and credible transfer pricing regimes has been released by the International Monetary Fund, the OECD, the United Nations, and the World Bank Group.
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Noonan Outlines Ireland's Objections To CCCTB

Jason Gorringe,, London // 25 January, 2017

The European Commission's proposal for a common consolidated corporate tax base is "not acceptable to Ireland," Irish Finance Minister Michael Noonan has said.
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Australian Revenue Minister Explains Diverted Profits Tax

Mary Swire,, Hong Kong // 23 January, 2017

Australia's Revenue Minister, Kelly O'Dwyer, has explained how a proposed new diverted profits tax will "make sure that large multinational companies pay the right amount of tax on the profits that they make" in the country.
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Canada Could Also Face Trump Tariffs

Scott Hamilton,, Washington // 17 January, 2017

While there has been a concentration by President-elect Donald Trump on warnings of increased import tariffs on Mexican exports to the United States, his spokesman Sean Spicer has indicated that exports from Canada could also be subject to the same tax response.
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