Tax & Accounting Blog

UK Publishes Finance (No. 2) Bill 2016, Includes Anti-Avoidance Measures

UK Publishes Finance (No. 2) Bill 2016, Includes Anti-Avoidance Measures

On March 24, 2016, the UK published Finance (No.2) Bill 2016 (the “Bill”), introducing measures to tackle multinational tax avoidance, including: Anti-avoidance rules with respect to intellectual property (IP), hybrid mismatch arrangements, transfer pricing, VAT, and state aid. Civil and criminal penalties for tax avoidance. IP Provisions Clause 40 amends the rules in Part … Read More

Canada Announces BEPS Measures in 2016 Federal Budget

Canada Announces BEPS Measures in 2016 Federal Budget

On March 22, 2016, Canada’s new Liberal Party-run government issued its 2016 Federal Budget (the “Budget”) before Parliament. The Budget includes several international tax proposals, and for the first time, addresses whether the government intends to implement the OECD BEPS Project recommendations. Aside from treaty dispute resolution mechanisms (BEPS Action 14), the Read More

Turkey Issues Draft Communiqué on Transfer Pricing Documentation

Turkey Issues Draft Communiqué on Transfer Pricing Documentation

On March 16, 2016, the Turkish Revenue Administration issued draft General Communiqué No. 3 (the “Communiqué”) that, once finalized, would expand certain legal requirements and would introduce new transfer pricing documentation rules that generally follow the BEPS Action 13 recommendations, and provide for country-by-country reporting (CbCR). The Communiqué introduces additional transfer pricing … Read More