Tax & Accounting Blog

OECD Releases Updated Guidance on Implementation of Country-by-Country Reporting

OECD Releases Updated Guidance on Implementation of Country-by-Country Reporting

On December 5, 2016, the OECD released updated guidance on  the implementation of country-by-country (CbC) reporting under BEPS Action 13. The OECD also released a database containing information on CbC reporting implementation by various countries to date. The December 5th guidance updates the Q&A guidance issued by … Read More

European Commission Unveils VAT Proposals for E-Commerce Transactions

European Commission Unveils VAT Proposals for E-Commerce Transactions

On December 1, 2016, the European Commission (the “Commission”) issued a press release on proposed measures to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU, such as start-ups and small and medium enterprises (SMEs). See the Commission’s accompanying Fact Sheet and BEPS … Read More

France Advances Diverted Profits Tax Legislation

France Advances Diverted Profits Tax Legislation

On November 7, 2016, the French National Assembly (“Assembly”) approved Amendment No. II-CF421 (“Amendment”) to Article 46 quinquies of Finance Bill 2017, which would impose a diverted profits tax (DPT), or income tax, in situations that  constitute a permanent establishment (PE). On November 22, 2016, the National Assembly finished its first reading of … Read More

Deloitte’s Sally Morrison on the U.S. Section 385 Final Regs.

Deloitte’s Sally Morrison on the U.S. Section 385 Final Regs.

Sally Morrison is a partner and leader within the International Tax and Global Strategies practice of Deloitte Tax LLP in Kansas City, Missouri. On November 21, 2016, Ms. Morrison answered the following questions for BEPS Global Currents, regarding the Section 385 final Regulations (T.D. 9790) (“Final Regulations”) published in the Federal Register on … Read More

Netherlands Delays First Notification of CbC Reporting

Netherlands Delays First Notification of CbC Reporting

On November 15, 2016, the Dutch State Secretary of Finance issued a decree, delaying the first notification deadline for country-by-country (“CbC”) reporting to September 1, 2017. The tax authorities have developed an automatic notification tool, which the State Secretary intends to make compulsory. The notification is made pursuant to Section 29d of the Read More