Tax & Accounting Blog

U.S. Publishes Final CbC Regulations in the Federal Register

U.S. Publishes Final CbC Regulations in the Federal Register

On June 29, 2016, the U.S. Internal Revenue Service (IRS) and Treasury issued final country-by-country (CbC) regulations that will apply to U.S. persons that are the ultimate parent entities of a multinational enterprise (MNE) group that has annual revenue for the preceding annual accounting period of $850,000,000 or more. See OECD Read More

Singapore to Join Inclusive Framework to Implement BEPS Recommendations

Singapore to Join Inclusive Framework to Implement BEPS Recommendations

On June 16, 2016, the Singapore Ministry of Finance issued a press release saying that Singapore will join the “inclusive framework” for the global implementation of the BEPS project. Under this framework, all state- and non-state jurisdictions that commit to the BEPS project will participate as BEPS Associates of the OECD’s Committee on Fiscal … Read More

Austrian Ministry of Finance Issues Draft Transfer Pricing Documentation Legislation

Austrian Ministry of Finance Issues Draft Transfer Pricing Documentation Legislation

On May 11, 2016, the Austrian Ministry of Finance published a draft version of the EU Tax Amendment Act 2016 (EU-Abgabenänderungsgesetz 2016) and submitted it for approval. The draft bill provides for the implementation of country-by-country reporting (CbCR), as recommended by OECD BEPS Action 13 and the implementation of the Directive … Read More