Organisation for Economic Cooperation and Development (OECD) - IMC
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On 1 February 2017, the Organisation for Economic Cooperation and Development (OECD) published documents detailing the processes for review of countries’ implementation of two of the OECD/G20 Base Erosion and Profit Shifting Project (BEPS) minimum standards. These relate to the compulsory spontaneous exchange of information...

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New information on Country-by-Country reporting should give more certainty to tax administrations and multinationals on how to implement it.

On 5 December 2016, the OECD released further guidance on Country-by-Country (CbC) reporting and country-specific information on implementation of the guidance. CbC reporting is linked to action...

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A Free zone (FZ) entity is the UAE offers many tax and business possibilities.
The establishment of free zones (FZs) in the UAE has been one of the most significant and promising initiate pursued to attract foreign investments. Dubai was the first emirate to establish...

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The European Commission has released an Action Plan on VAT, setting out plans for the next two years to modernize European Union value-added tax (VAT) rules.
By the end of 2016, the Commission is to propose legislation that would extend the current One Stop Shop...

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31 countries have now signed a MCAA enabling the automatic exchange of CbC reports from each reporting entity between the competent authorities.
The agreement handles the exchange of CbC reports as stated in BEPS action plan 13. This action plan has amended Chapter V of...

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Intellectual Property (IP) Box alignment with the OECD’s BEPS Action 5 conclusions announced, with maximum transitional arrangements
The Cyprus Ministry of Finance (MoF) announced on December 30, 2015 that it will propose amendments to the current Cyprus intellectual property (IP) Box in order to introduce...