Tax & Accounting Blog

U.S. Treasury Official Says that FDII Rules Are BEPS Compliant

U.S. Treasury Official Says that FDII Rules Are BEPS Compliant

On January 25, 2018, Jason Yen, Attorney-Advisor, Office of Tax Policy, U.S. Treasury, said during a panel event at a conference sponsored by the Washington, D.C. Bar that Treasury feels the “foreign-derived intangible income” (FDII) rules introduced by the 2017 U.S. tax reform legislation (the “Tax Cuts … Read More

Hong Kong Signs Bilateral Agreements on Exchange of CbC Reports

Hong Kong Signs Bilateral Agreements on Exchange of CbC Reports

On January 15, 2018, the Hong Kong Inland Revenue Department (IRD) announced that it has signed a bilateral competent authority agreement (CAA) with France for the exchange of country-by-country (CbC) reports. Hong Kong has also signed CAAs on the exchange of CbC reports with Ireland, South Africa, and the U.K. The … Read More

South Africa Publishes Guide on Country-by-Country Reporting Requirements

South Africa Publishes Guide on Country-by-Country Reporting Requirements

On December 29, 2017, the South African Revenue Service (SARS) published an external guide assisting taxpayers with the completion and submission of country-by-country (CbC) reports. See BEPS Action 13. The guide describes CbC information requirements, as well as how to submit the CbC report, master file, and … Read More

Spain Introduces Country-by-Country Reporting Amendments

Spain Introduces Country-by-Country Reporting Amendments

On December 29, 2017, Spain issued Royal Decree 1074/2017 (the “Decree”), introducing amendments, effective for tax periods that begin on or after January 1, 2016, to Article 13 (Information and documentation on companies and related transactions) of Decree No. 634/2015 regarding the submission of country-by-country (CbC) reports. See BEPS Action 13. Article … Read More