Tax & Accounting Blog

OECD Releases Additional Guidance on Country-by-Country Reporting

OECD Releases Additional Guidance on Country-by-Country Reporting

On September 6, 2017, the OECD’s Inclusive Framework on BEPS released two sets of guidance for tax administrations and MNE groups regarding the implementation and operation of country-by-country (CbC) reporting. See BEPS Action 13. Existing guidance on the implementation of CbC reporting has been updated to address the following issues: Definition of … Read More

U.S. IRS Publishes List of Negotiating Countries for the Exchange of Country-by-Country Reports

U.S. IRS Publishes List of Negotiating Countries for the Exchange of Country-by-Country Reports

The U.S. Internal Revenue Service (IRS) has updated its country-by-country (CbC) reporting jurisdiction status table, as of August 29, 2017, to include jurisdictions that are negotiating bilateral competent authority arrangements (CAAs) with the U.S. to exchange CbC information. The table also includes jurisdictions that have signed a CAA with the U.S. to exchange CbC … Read More

BEPS the Major Topic at IFA Congress in Rio de Janeiro

BEPS the Major Topic at IFA Congress in Rio de Janeiro

The 71st Congress of the International Fiscal Association (IFA) was held in Rio de Janeiro between August 27 and September 1, 2017. Thomson Reuters was proud to be a Gold sponsor at the Congress, showcasing how we can help businesses navigate BEPS compliance. Understandably, BEPS was the major topic at the Congress, but other … Read More

RSM’s Daniel M. Berman on the OECD BEPS Multilateral Instrument

RSM’s Daniel M. Berman on the OECD BEPS Multilateral Instrument

Daniel Berman is responsible for international and strategic projects for the national tax practice of RSM US LLP, for which he previously led the international tax practice for the firm’s northeast region.  He joined RSM in 2012 from the Boston University School of Law, where he was Director of the Graduate Tax Program and Professor … Read More

Singapore Address Tax Challenges Posed by the Digital Economy

Singapore Address Tax Challenges Posed by the Digital Economy

On August 17, 2017, the Inland Revenue Authority of Singapore (IRAS) published a speech by the Senior Minister of State for Law and Finance on the challenges the international tax community faces as a result of the digital economy. See BEPS Action 1. According to the speech, digitalization is blurring the boundaries between … Read More

EY’s Jose Bustos on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (“MLI”)

EY’s Jose Bustos on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (“MLI”)

Jose Bustos of EY answered the following questions for BEPS Global Currents on August 21, 2017 regarding the OECD BEPS Multilateral Instrument (MLI): Q: The U.S. has decided not to sign the BEPS MLI for now. What impact may that have, if any, on U.S. tax treaties overall? A: First, it is important to … Read More