Tax & Accounting Blog

U.K. Issues Draft Updated Guidance on Corporate Interest Restriction

U.K. Issues Draft Updated Guidance on Corporate Interest Restriction

On March 31, 2017, the U.K. HM Revenue & Customs (HMRC) issued draft updated guidance on corporate interest restriction. The rules are contained within Part 10 of Taxation (International and Other Provisions) Act 2010. The corporate interest restriction will have effect from April 1, 2017, and all periods of account of … Read More

Canada’s 2017 Federal Budget Does Not Contain New BEPS Measures

Canada’s 2017 Federal Budget Does Not Contain New BEPS Measures

On March 22, 2017, Canada’s Liberal Party-run government issued its 2017 Federal Budget (the “Budget”) before Parliament. The Budget contains one international tax legislative proposal that would extend Canada’s anti-avoidance rules to foreign branches of Canadian life insurance companies. While the Budget does not contain any new legislative measures relating to the OECD … Read More

Flanders Implements EU DAC 3 on Automatic Exchange of Tax Ruling Information

Flanders Implements EU DAC 3 on Automatic Exchange of Tax Ruling Information

On March 14, 2017, Belgium published the Decree of February 17, 2017 in the official gazette, implementing in Flanders, the Dutch-speaking northern portion of Belgium, the December 8, 2015 amendments to the EU Mutual Assistance Directive (2015/2376) ("Directive" or DAC 3) on the automatic exchange of tax ruling and advance pricing … Read More