The Irish government and Apple have begun the process of appointing an escrow agent and custodian to hold the estimated €13-15 billion fund representing tax and interest Ireland will have to recover from Apple, should the Court of Justice uphold the European Commission’s decision on state aid.
The EU Parliament’s Economic and Monetary Affairs (ECON) committee has renewed its call to lower the threshold for the common consolidated corporate tax base (CCCTB) to groups with revenue above €40m, instead of the €750m proposed by the Commission.
The OECD has published additional guidance on two specific issues in connection with country by country reporting (BEPS action 13).
The European Commission has published its 2017 report on taxation trends in the EU. The report contains a detailed statistical and economic analysis of the tax systems of the 28 EU member states, plus Iceland and Norway.
The Australian government has announced a new goods and services tax (GST) on international businesses selling goods into Australia valued at A$1,000 or less, with effect from 1 July 2018.
The EU Parliament’s environment, public health and food safety committee has voted for an amendment to the proposal for a continued restriction of the aviation EU emissions trading system (ETS) to flights within the EEA only.
The OECD secretary-general’s report to the meeting of G20 leaders held in Hamburg in July 2017 took the form of an update on the latest developments in the international tax agenda, and a progress report on transparency and exchange of information for tax purposes.
The Financial Action Task Force (FATF) report to the July 2017 G20 leaders’ summit in Hamburg provided an overview of the FATF’s recent work on fighting money laundering and terrorist financing.
The OECD has released the 2017 edition of its ‘Transfer pricing guidelines for multinational enterprises and tax administrations’ and is also inviting comments by 10 August on a draft of the latest update to the Model Tax Convention.
Montserrat has become the 102nd country to join the OECD’s inclusive framework on BEPS, while Cameroon and Mauritius have signed the multilateral convention to implement tax treaty related measures to prevent BEPS.