Tax & Accounting Blog

Luxembourg Issues Draft Law on Country-by-Country Reporting

Luxembourg Issues Draft Law on Country-by-Country Reporting

On August 2, 2016, Luxembourg’s Parliament issued a draft law that would implement EU Directive 2016/881 regarding the automatic and mandatory exchange of tax information and country-by-country (CbC) reporting for multinational companies. See BEPS Action 13. The ultimate parent entity of a group of multinational companies that are Luxembourg … Read More

South Korea: Tax Revision Bill, 2016 to Make Significant Tax Changes: CbC Reporting

South Korea: Tax Revision Bill, 2016 to Make Significant Tax Changes: CbC Reporting

South Korea’s government says its 2016 Tax Revision Bill focuses on stimulating the economy and improving people’s livelihoods, while pursuing fair and rational taxation. The Ministry of Strategy and Finance says the Bill provides for a range of changes, including Country-by-Country (CbC) reporting under BEPS, R&D incentives, corporate tax credits, tax … Read More

BDO Webcast Analyzes Proposed U.S. Section 385 Regulations

BDO Webcast Analyzes Proposed U.S. Section 385 Regulations

On August 2, 2016, BDO held a webcast on the U.S. Section 385 Proposed Regulations (“Proposed Regulations”), concerning treatment of direct or indirect interests in a related corporation as stock, debt, or as in part stock and in part debt. The panelists included Joseph Calianno, Partner, International Technical Tax Practice Leader … Read More

Liechtenstein Initiates Consultation on Implementation of CbC Reporting

Liechtenstein Initiates Consultation on Implementation of CbC Reporting

On July 5, 2016, the Liechtenstein government initiated a consultation on the implementation of Country-by-Country (CbC) reporting and the OECD’s Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (“CbC MCAA”). See BEPS Action 13. The consultation will run until August 2, 2016, and the measures would apply … Read More