The Swiss Federal Council on August 15 adopted the dispatch on the tax treaty with Saudi Arabia.Continue Reading
Tax Treaty between Switzerland, Saudi Arabia to Enter Into Force
Europe
Transfer pricing news, BEPS news, and international tax news in Europe
Transfer Pricing Documentation: Belgium Gazettes Administrative Fines
By Stefaan De Ceulaer (Director, Tax and Legal Support, PKF International)
The Belgian Parliament on June 29 adopted the Programme Act, which introduces in Belgian tax law specific transfer pricing documentation requirements, that is, in article 321/1 to 321/7 of the Income Tax Code (Programme law of July 1, 2016 gazetted on July 4, 2016), in response to Action 13 of the OECD’s base erosion and profit shifting (BEPS project. Continue Reading
Grant Thornton Boosts Presence in Dutch Caribbean
In a significant expansion drive, Grant Thornton, leading audit, tax, and advisory firm, has added offices in Aruba, Bonaire, Curaçao, and St. Maarten, boosting its already wide presence in 13 locations across the Caribbean.Continue Reading
Transfer Pricing Documentation Regime Being Revised in Poland
By Marcin Jamroży (Associate Professor, Warsaw School of Economics, and Partner, Rödl & Partner, Poland)
Poland’s Finance Ministry recently published a draft tax Bill to implement key changes to the country’s transfer pricing documentation rules. The draft Bill is aimed at simplifying Poland’s transfer pricing regulations and lowering the bureaucratic and administrative burden for enterprises. The philosophy of a simple, transparent, and friendly tax system should be written into the law. At the same time, it is underlined that the draft Bill should be sealed against loopholes and incorporate the new OECD recommendations. The new regulation is proposed to be effective from January 1, 2019.Continue Reading
Spain’s Patent Box Regime Aligned with BEPS Action 5
By Mario Ortega Calle (Partner, Garrigues, Madrid) and Laura Jiménez (Associate, Garrigues, Madrid)
Spain’s General State Budget for 2018, published by Law 6/2018 of July 3, 2018, in the Official Gazette, has amended the country’s patent box regime to bring it in further alignment with the “nexus approach” developed by the OECD under Action 5 of the base erosion and profit shifting (BEPS) project.Continue Reading
Guernsey to Introduce Substance Requirements in Tax Law
Guernsey’s Government is consulting businesses on a law that would require companies tax-resident in Guernsey to demonstrate they have sufficient substance in the island.Continue Reading
UK Raises £388 million from Diverted Profits Tax Law in 2017-18
The UK tax authority, HM Revenue and Customs (HMRC), raised GBP388m from the diverted profits tax (DPT) legislation in 2017-18, according to the Transfer Pricing and Diverted Profits Tax Statistics published on July 31.Continue Reading
DLA Piper Appoints Vicki Bales as Transfer Pricing Director
Global law firm DLA Piper has announced the appointment of Vicki Bales as a Transfer Pricing director in the firm’s international tax practice. Bales will be based in London.Continue Reading
Franka Sturm Joins Houthoff’s Tax Practice as Counsel
Houthoff, one of the largest law firms in the Netherlands, has hired Franka Sturm as Counsel for the firm’s tax practice.
Sturm has over 13 years of experience as a tax specialist in international practice with a focus on M&A and oil and gas.
Before joining Houthoff, Sturm worked with the Dutch Tax and Customs Administration and with PwC as a Senior Tax Manager.
Taxpayer Input Sought on Fresh Round of MAP Peer Reviews
The OECD is seeking taxpayers’ input for the sixth round of base erosion and profit shifting (BEPS) Action 14 Stage 1 peer reviews of eight new jurisdictions.Continue Reading