Tax & Accounting Blog

Ireland Updates Country-by-Country Reporting FAQs

Ireland Updates Country-by-Country Reporting FAQs

On October 13, 2016, Ireland updated its Country-by-Country Reporting Frequently Asked Questions (FAQs). The FAQs relate to the OECD BEPS Action 13 country-by-country (CbC) reporting requirements and the Irish legislation implementing these requirements. This legislation is included in section 891H of the Taxes Consolidation Act 1997 (TCA 1997)Read More

OECD Highlights Tax Transparency and Beneficial Ownership

OECD Highlights Tax Transparency and Beneficial Ownership

On October 6, 2016, Angel Gurría, OECD Secretary-General, spoke at a G20 Finance Ministers and Central Bank Governors meeting in Washington, D.C. Gurría said that although governments have made great strides in combating offshore tax evasion and increasing transparency, challenges remain. Specifically, tax evasion continues to occur with the use of shell companies, … Read More

Singapore: Country-by-Country reporting – IRAS releases guide

Singapore: Country-by-Country reporting – IRAS releases guide

On October 10, 2016, Singapore’s IRAS released an e-Tax Guide on Country-by-Country reporting (CbCR). The guide provides taxpayers with guidance on: The purpose of CbCR. The obligation to provide a CbC Report. How to complete a CbC Report. How to submit a CbC Report to IRAS. Singapore will implement CbCR for Singapore MNE groups from … Read More

U.S. Representatives Attempt to Halt Finalization of Proposed 385 Regulations

U.S. Representatives Attempt to Halt Finalization of Proposed 385 Regulations

In a last-ditch effort to halt the finalization of the Proposed Section 385 Regulations (Prop. Regs.), members of the U.S. House Ways and Means Committee warned administration officials that these regulations now under final review at the White House Office of Management and Budget (OMB) need to be revised to avoid unintended harm … Read More