The latest OECD forum on tax and crime, hosted in London by HMRC, has identified five priority areas for action. These include:
The US House of Representatives ways and means committee has released its tax reform Bill, the ‘Tax Cuts and Jobs Act’. Companies would see the US federal tax rate drop to 20% from 2018, with an effective 10% levy on non-US profits.
The OECD has published guidance on implementing international standards for the VAT treatment of cross-border trade in services and intangibles, as recommended in the BEPS Action 1 report on tax challenges of the digital economy, reflecting the rapid growth in the digital economy and its implicat
EU finance ministers formally adopted the new directive on double taxation dispute resolution mechanisms at the ECOFIN meeting on 10 October, following agreement to the draft directive in May. The directive introduces a binding procedure for resolving disputes within two years.
The governments of Belarus and the UK signed a new double taxation convention on 26 September 2017, which will replace the 1985 UK/USSR convention. The new convention will not enter into force until both countries have completed their parliamentary procedures and exchanged diplomatic notes.
Expert insight from advisers at Mayer Brown, Pinsent Masons and Clifford Chance.