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OECD news: 6 November 2019

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  • The OECD has published guidance on spontaneous exchange of information under the new ‘substantial activities’ standard applied to zero or only nominal tax jurisdictions. Having resumed application of the standard to such jurisdictions in November 2018, the BEPS inclusive framework expects exchanges of information under the standard to begin in 2020.
  • The OECD has updated its guidance on the implementation of country-by-country reporting (BEPS Action 13), adding questions and answers on: dividends received; local filing; use of rounded amounts; and information to be provided about data sources.
  • Latvia has deposited its instrument of ratification for the BEPS multilateral instrument with the OECD, which will enter into force for Latvia on 1 February 2020. Latvia becomes the 37th country to ratify the convention.
  • Bosnia Herzegovina has become the 90th country to sign the OECD’s ‘Multilateral convention to implement tax treaty related measures to prevent BEPS’.
Issue: 1464
Categories: News