Tax & Accounting Blog

Australia Publishes Discussion Paper on Taxing Digital Economy

Australia Publishes Discussion Paper on Taxing Digital Economy

On October 2, 2018, Australia’s Treasury released a Discussion Paper on the digital economy and Australia’s corporate tax system. See BEPS Action 1. Under the current international tax framework, companies are generally taxed in the jurisdiction where physical assets, capital, and labor are located. The source of income and residence of the taxpayer … Read More

Chile Issues 2018 Tax Reform Proposals, Include BEPS Measures

Chile Issues 2018 Tax Reform Proposals, Include BEPS Measures

BEPS, Blog, Checkpoint October 4, 2018

On August 23, 2018, Chile’s Ministry of Finance (MOF) sent Draft Law No. 107/366 (the “Project of Tax Law Modernization”) to Congress for consideration. The Draft Law contains significant corporate tax reform measures, which are discussed below. The amendments would apply from January 1, 2019, if enacted. Digital Services Tax (BEPS Action 1) Article 15 of … Read More

China Uses Innovative Methods to Stimulate Processing Trade

China Uses Innovative Methods to Stimulate Processing Trade

Blog, Global Trade, ONESOURCE September 28, 2018

The theory of processing trade was introduced in China over 30 years ago. It has since facilitated a rapid expansion of Chinese export activities by providing unique protectionist policy advantages like duty and license exemption programs.  About 30% of China’s trade volume falls under a processing trade module.  China has also signed multiple free … Read More

Panama Closer to Aligning IP Incentives with OECD “Modified Nexus” Approach

Panama Closer to Aligning IP Incentives with OECD “Modified Nexus” Approach

BEPS, Blog, Checkpoint September 27, 2018

On September 5, 2018, Panama’s National Assembly (a unicameral Parliament), during its first reading, announced its approval of draft Bill No. 654 of July 16, 2018, which includes proposals to calculate income derived from the assignment or exploitation of intangible assets. The draft bill will now be considered during a plenary session of … Read More