Tax & Accounting Blog

Brazil Updates FAQs on Country-by-Country Reporting Requirements

Brazil Updates FAQs on Country-by-Country Reporting Requirements

On June 9, 2017, Brazil issued updated FAQs on country-by-country (CbC) reporting. On December 29, 2016, Brazil published Normative Instruction No. 1681/2016, requiring CbC reporting for fiscal years that begin on or after January 1, 2016. See BEPS Action 13. The FAQs address the following considerations (among others): Whether extraordinary revenues and gains from … Read More

Brazil Issues Transitional Relief Measures for 2016 Country-by-Country Report Filings

Brazil Issues Transitional Relief Measures for 2016 Country-by-Country Report Filings

On May 25, 2017, Brazil published RFB Normative Instruction No. 1,709/2017 in the official gazette to amend certain parts of the country-by-country (CbC) reporting rules in Normative Instruction No. 1,681/2016 (issued on December 29, 2016). Brazil introduced CbC reporting via Normative Instruction No. 1,681/2016 for fiscal years that begin on or after … Read More

Highlights from Day 2 of the 2017 OECD International Tax Conference in Washington, D.C.

Highlights from Day 2 of the 2017 OECD International Tax Conference in Washington, D.C.

On June 6, 2017, the OECD completed its two-day 2017 International Tax Conference in Washington, D.C., in partnership with the U.S. Council for International Business (USCIB). As with day 1 of the event, the OECD BEPS project was the focal point of the panels on day 2, which included discussions by government officials, … Read More

Highlights from Day 1 of the 2017 OECD International Tax Conference in Washington, D.C.

Highlights from Day 1 of the 2017 OECD International Tax Conference in Washington, D.C.

On June 5, 2017, the OECD began its two-day 2017 International Tax Conference in Washington, D.C., in partnership with the U.S. Council for International Business (USCIB). The OECD BEPS project was the focal point of each panel, which included discussions by government officials, OECD members, and multinational executives. Panel 1 – … Read More

U.S. and New Zealand Sign Competent Authority Arrangement to Exchange Country-by-Country Reports

U.S. and New Zealand Sign Competent Authority Arrangement to Exchange Country-by-Country Reports

On May 31, 2017, the U.S. Internal Revenue Service (IRS) updated its listing of competent authority arrangements (CAAs) between the U.S. and its treaty partners. The listing includes a CAA between the U.S. and New Zealand on the exchange of country-by-country (CbC) reports. See BEPS Action 13. Pursuant to the provisions of … Read More