Tax & Accounting Blog

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

Norway and U.S. Sign Competent Authority Agreement to Exchange Country-by-Country Reports
Brazil Releases Guidance on Country-by-Country Reporting Obligations

Brazil Releases Guidance on Country-by-Country Reporting Obligations

On May 15, 2017, Brazil released guidance on country-by-country (CbC) reporting. On December 29, 2016, Brazil published Normative Instruction No. 1681, requiring CbC reporting for fiscal years that begin on or after January 1, 2016, in compliance with BEPS Action 13. Multinational groups with total consolidated revenue in the preceding … Read More

G7 Finance Ministers and Central Bank Governors Encourage BEPS Implementation

G7 Finance Ministers and Central Bank Governors Encourage BEPS Implementation

On May 13, 2017, the G7 issued a Communiqué with regard to the G7 finance ministers and central banks’ governors meeting in Italy on May 12-13, 2017. The G7 encouraged countries and jurisdictions to commit to implement the BEPS package and join the G20/OECD Inclusive Framework on BEPS. The Communiqué said that the … Read More