Tax & Accounting Blog

French Constitutional Council Declares Public Country-by-Country Reporting Unconstitutional

French Constitutional Council Declares Public Country-by-Country Reporting Unconstitutional

On December 8, 2016, the French Constitutional Council (“Council”) issued Decision No. 2016-741 DC, which held that specific provisions of Article 137 of the law on transparency, the fight against corruption and the modernization of the economy ("Law No. 830") (i.e., public country-by-country reporting (CbCR)) are unconstitutional. See the corresponding Read More

Norway Implements Country-by-Country Reporting Requirements

Norway Implements Country-by-Country Reporting Requirements

Following approval by the Norwegian parliament, on December 2, 2016, Norway amended the Tax Administration Act with the addition of a new § 4-13, implementing country-by-country (CbC) reporting. See BEPS Action 13. Under the new legislation, a parent company domiciled in Norway with enterprises abroad is required to submit, … Read More

Belgium Introduces New Tax Deduction for Innovation Income

Belgium Introduces New Tax Deduction for Innovation Income

On December 2, 2016, the Belgian government issued a press release stating that the Belgian Council of Ministers has adopted a new tax deduction for innovation income, which is being reviewed by the Belgian State Council. Once enacted, the new rules would extend the scheme to small and medium-sized enterprises (SMEs) and replace … Read More

OECD Releases Updated Guidance on Implementation of Country-by-Country Reporting

OECD Releases Updated Guidance on Implementation of Country-by-Country Reporting

On December 5, 2016, the OECD released updated guidance on  the implementation of country-by-country (CbC) reporting under BEPS Action 13. The OECD also released a database containing information on CbC reporting implementation by various countries to date. The December 5th guidance updates the Q&A guidance issued by … Read More

European Commission Unveils VAT Proposals for E-Commerce Transactions

European Commission Unveils VAT Proposals for E-Commerce Transactions

On December 1, 2016, the European Commission (the “Commission”) issued a press release on proposed measures to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU, such as start-ups and small and medium enterprises (SMEs). See the Commission’s accompanying Fact Sheet and BEPS … Read More