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Tag: OECD

VAT in UAE is good for MNC

VAT is UAE: Reason of MNC’s Joy

Introduction The UAE is all set to launch VAT which will be applicable to most of the business in the country with effect from 1st January, 2018. Preparations are in full form and authorities are leaving no stone unturned for successful implementation of the law in the country. Though business in the country are apprehensive […]

OECD publishes BEPS peer review documents for exchanges of tax rulings and country-by-country reports

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 amongst tax authorities of: tax rulings (the ‘transparency framework’), in […]

Revision of Tax Treaty between India and Cyprus: Beginning of New Era

History India and Cyprus had signed an agreement in June 1994 and were bound to exchange information to avoid tax evasions.  It is considered to be a tax haven before 2015 and stands seventh on the list of Foreign Direct Investment (FDI) destinations in India. India received foreign investments of approximately INR 42,680 from Cyprus […]

New Base Erosion & Profit Shifting (BEPS) Guidance on Country – By – Country Reporting & Implementation

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 point 13 in the Base Erosion and Profit Shifting […]

Belgium: Parliament Approves Belgian Transfer Pricing Documentation Requirements

On June 29, 2016, the Belgian Parliament adopted the ‘programme law’ (introduced on June 2, 2016) that contains the introduction into Belgian tax law specific transfer pricing documentation requirements (published in the Belgian Official Gazette of July 4, 2016). These requirements are based on Action 13 of the Organisation for Economic Co-operation and Development (OECD)/ […]