Including publication of guidance on MLI synthesised texts, reporting on preferential tax regimes, and gathering input on latest tax dispute resolution peer reviews.
The Isle of Man government has published draft legislation imposing requirements on Isle of Man resident companies undertaking specific activities to demonstrate that they have sufficient substance in the Isle of Man to access the island’s corporate tax regime.
HMRC has published the ‘synthesised’ text of the UK’s double taxation convention with Japan, as modified by the BEPS multilateral instrument (MLI). The MLI came into force for the UK on 1 October 2018 and will enter into force for Japan on 1 January 2019.
The regulation establishing new controls on cash entering or leaving the EU has been published in the EU official journal. The new measures will apply from 3 June 2021.
European finance ministers remained far apart on negotiations over the proposed EU digital services tax (DST) at the economic and financial affairs council (ECOFIN) meeting on 6 November.
HMRC has published the ‘synthesised’ text of the UK’s double taxation convention with New Zealand, as modified by the BEPS multilateral instrument (MLI). The UK signed the MLI with New Zealand on 7 June 2017 and it came into force on 1 October 2018.
Ecuador has signed the OECD’s ‘Multilateral convention on mutual administrative assistance in tax matters’, bringing to 126 the number of jurisdictions participating in the convention.
The economic and financial affairs council (ECOFIN) has moved Namibia to the lower-risk annex II of the EU’s list of non-cooperative tax jurisdictions.
This leaves five jurisdictions listed in annex I: American Samoa, Guam, Samoa, Trinidad and Tobago and the US Virgin Islands.
Antigua & Barbuda, Dominica, Saint Vincent & the Grenadines, and Grenada have joined the OECD’s inclusive framework on BEPS, bringing to 123 the total number of countries and jurisdictions participating on an equal footing in the project.