Tax & Accounting Blog

Luxembourg Publishes Updated FAQs on Common Reporting Standard

Luxembourg Publishes Updated FAQs on Common Reporting Standard

On March 13, 2017, Luxembourg published updated FAQs on the OECD Common Reporting Standard (CRS). Luxembourg published prior FAQs on April 21, 2016. In general, jurisdictions subject to declaration in Luxembourg are (i) EU member states and (ii) signatories of the OECD Multilateral Competent Authority Agreement (MCAA), implementing the G20's and … Read More

Polish Parliament Approves Law to Automatically Exchange Country-by-Country Reports

Polish Parliament Approves Law to Automatically Exchange Country-by-Country Reports

On March 9, 2017, the Polish Sejm gave final approval of the law on the exchange of tax information with other countries (the “Law”) following consideration of Senate amendments. The Law provides information on obligations of financial institutions (FIs) and the automatic exchange of country-by-country (CbC) reports. The Law does not apply to … Read More

Swedish Parliament Approves Government Proposals to Implement Country-by-Country Reporting and Master and Local Filing Requirements

Swedish Parliament Approves Government Proposals to Implement Country-by-Country Reporting and Master and Local Filing Requirements

On March 1, 2017, the Swedish Parliament approved the Government’s proposals in the 2016/17:47 bill to implement transfer pricing documentation (master and local file) and country-by-country (CbC) reporting. (Parliament rejected proposals to introduce public CbC reporting.) Parliament agreed to align the transfer pricing documentation rules to the OECD Action 13 standard. … Read More

South Africa Publishes 2017 Budget Review, Includes Position on BEPS Action Items

South Africa Publishes 2017 Budget Review, Includes Position on BEPS Action Items

On February 22, 2017, South Africa’s Finance Minister published the 2017 Budget Review, which includes a summary of its position on the OECD BEPS action items, as well as the OECD Common Reporting Standard (CRS). See the corresponding Budget speech. Digital economy (Action 1) – Foreign businesses supplying digital … Read More