Tax & Accounting Blog

Singapore to Join Inclusive Framework to Implement BEPS Recommendations

Singapore to Join Inclusive Framework to Implement BEPS Recommendations

On June 16, 2016, the Singapore Ministry of Finance issued a press release saying that Singapore will join the “inclusive framework” for the global implementation of the BEPS project. Under this framework, all state- and non-state jurisdictions that commit to the BEPS project will participate as BEPS Associates of the OECD’s Committee on Fiscal … Read More

U.K. Labour Party Introduces Public CbC Reporting Amendments to Finance (No. 2) Bill 2016

U.K. Labour Party Introduces Public CbC Reporting Amendments to Finance (No. 2) Bill 2016

On June 13, 2016, U.K. Parliament member Caroline Flint issued a press release concerning proposed amendments that the U.K. Labour Party added to Finance (No. 2) Bill 2016 (“Bill”) for public country-by-country (CbC) reporting. The amendments were published on June 8, 2016. MP Flint said: “I am delighted to have such … Read More

Hong Kong Publishes Amendment Ordinance Encouraging Multinationals to Establish Corporate Treasury Centers

Hong Kong Publishes Amendment Ordinance Encouraging Multinationals to Establish Corporate Treasury Centers

On June 3, 2016, Hong Kong issued a press release saying that the Government published the Inland Revenue (Amendment) (No. 2) Ordinance 2016 (the Amendment Ordinance) in the Gazette. The purpose of the Amendment Ordinance is to encourage multinationals to establish corporate treasury centers in Hong Kong. The Amendment Ordinance allows, … Read More