Tax & Accounting Blog

Sweden Proposes New Rules on Interest Deductibility and Hybrid Mismatches

Sweden Proposes New Rules on Interest Deductibility and Hybrid Mismatches

On March 21, 2018, Sweden’s  Ministry of Finance issued draft legislation to amend Sweden’s corporate tax rules, including to implement anti-hybrid mismatch and interest expense limitation rules based on the EU Anti-Tax Avoidance Directive (ATAD 1) issued on July 12, 2016, and the May 19, 2017, amendments … Read More

India Enacts Digital PE, and Other BEPS, Measures

India Enacts Digital PE, and Other BEPS, Measures

On March 29, 2018, India published the Finance Act 2018 in the official gazette, thereby becoming one of the first countries to expand its permanent establishment (PE) rules to include activities of non-residents that do not give rise to a physical presence in India. The foregoing measures will apply from April 1, 2019. Editor’s … Read More

European Commission Says U.S. BEAT and FDII Rules May Violate Int’l Standards

European Commission Says U.S. BEAT and FDII Rules May Violate Int’l Standards

On March 22, 2018, Pierre Moscovici, Tax Commissioner at the European Commission, said during a meeting of the European Parliament that the EU may challenge the foreign-derived intangible income (FDII) and base erosion and anti-abuse tax (BEAT) rules, introduced by the 2017 U.S. tax reform legislation (the Read More

India Signs Income Tax Treaty and Protocol with Hong Kong, Includes BEPS Measures

India Signs Income Tax Treaty and Protocol with Hong Kong, Includes BEPS Measures

On March 19, 2018, officials from India and Hong Kong signed an income tax treaty and protocol, the first between the two jurisdictions. The treaty and protocol will enter into force after both countries exchange their ratification instruments, and will apply from January 1st of the year following its entry into … Read More