Malta gazettes transfer pricing rules
November 26, 2022On November 18, 2022, Malta gazetted Transfer Pricing Rules, 2022. The transfer pricing rules will apply with effect from January 1, 2024.
OECD publishes latest corporate tax statistics
November 22, 2022The OECD has published the latest annual Corporate Tax Statistics, covering over 160 countries and jurisdictions. The Corporate Tax Statistics include new aggregated country-by-country report (CbCR) data on the activities of almost 7,000 MNEs.
Luxembourg transfer pricing ruling did not favour Fiat: EU top court
November 9, 2022The Court of Justice of the European Commission annuls the European Commission’s 2015 finding that Luxembourg granted selective tax advantages to Fiat through a transfer pricing ruling, in breach of EU state aid rules.
Inter IKEA Group paid less corporate income tax in 2022
November 6, 2022Inter IKEA Group has published a Tax Report for the 2022 financial year to provide an insight into the company’s effective tax rate, country-by-country report, and total tax contribution. In the 2022 financial year, the effective tax rate of Inter IKEA Group was 23.7 percent (16.0 percent in FY21). The effective tax rate is primarily driven by the tax rates of the countries where the majority of the company’s business is conducted, that is, the Netherlands, Sweden, and Switzerland; and the financial performance of the Inter IKEA Group companies in these countries.
Profit shifting continues despite OECD, US tax reform: Research
November 4, 2022Global profit shifting continues to increase despite major policy initiatives from the OECD and corporate tax reform in the United States, a new paper finds. The paper – published by the United Nations University World Institute for Development Economics Research (UNU-WIDER) – constructs a time series of global profit shifting covering the 2015–19 period, during which major international efforts were implemented to curb profit shifting. The authors of the paper are Ludvig Wier and Gabriel Zucman.
EU Commission extends inquiry into Gibraltar’s corporate tax regime
November 3, 2022The European Commission has extended the scope of its ongoing in-depth inquiry into Gibraltar’s corporate tax regime to reassess the compatibility with State aid rules of a 2012 tax ruling granted to MJN Holdings Gibraltar Limited. MJN GibCo is a subsidiary of the infant and child nutrition products manufacturer Mead Johnson Nutrition group.
Shell paid USD 5.7 billion in corporate income tax in 2021
November 27, 2022Oil major Shell paid USD 12.6 billion in corporate income tax and government royalties after recording a profit before tax of USD 30 billion in the year 2021.
MAP statistics revealed for 127 tax jurisdictions
November 26, 2022On November 22, 2022, the OECD released the latest mutual agreement procedure (MAP) statistics covering 127 tax jurisdictions.
UN to bolster international tax cooperation
November 26, 2022A United Nations committee has approved draft resolution on “Promotion of inclusive and effective international tax cooperation at the United Nations.”
