Tax & Accounting Blog

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

KPMG’s Manal Corwin on Companies’ Response to BEPS Action 13

KPMG’s Manal Corwin on Companies’ Response to BEPS Action 13

Manal Corwin is national leader of the International Tax practice of KPMG LLP and principal in charge of International Tax Policy in the firm’s Washington National Tax practice. She is also the former deputy assistant secretary for International Tax Affairs in the Office of Tax Policy at the U.S. Department of the Treasury. While at … Read More

French Finance Minister Presents Proposals on Combating Tax Avoidance

French Finance Minister Presents Proposals on Combating Tax Avoidance

On April 11, 2016, the Minister of Finance and Public Accounts, Michel Sapin, issued a press release discussing the 13 proposals France presented at the recent G20 Summit and International Monetary Fund meetings in Washington, D.C. These proposals are in response to the “Panama Papers,” and confirm the country’s commitment to fight against … Read More

Germany Initiates Consultation on OECD CbCR Exchange Multilateral Agreement

Germany Initiates Consultation on OECD CbCR Exchange Multilateral Agreement

On April 12, 2016, Germany’s Federal Ministry of Finance issued a draft law that would implement the OECD Multilateral Competent Authority Agreement on the Exchange of Country-by-Country (CbC) Reports (“MCAA”) that the government signed on to with 30 other countries on January 27, 2016. The MCAA describes the type of information … Read More

Canada Publishes Information Circular 70-6R7 on Exchange of Information

Canada Publishes Information Circular 70-6R7 on Exchange of Information

Canada supports the OECD BEPS Action 5 recommendations  and has committed to the spontaneous exchange of information on tax rulings with other countries. In Information Circular (IC) 70-6R7, which replaces IC 70-6R6 (dated August 29, 2014), the Canada Revenue Agency (CRA) outlines the types of rulings that may be shared with … Read More