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.
The EU Parliament’s PANA committee, set up to investigate maladministration involving money laundering, tax avoidance and evasion following the ‘Panama papers’, has presented its draft report.
Bahrain has become the 112th signatory to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, while Barbados has become the 101st jurisdiction to join the BEPS inclusive framework.
‘More, not less, Europe in taxation’ is how taxation commissioner Pierre Moscovici summed up his vision for the future at the Commission’s Fair Taxation conference, held in Brussels at the end of June.
The government of Jersey is consulting until 1 September 2017 on a proposed land development charge, to be called the ‘Jersey infrastructure levy’. The charge would arise when land is given permission for development and would be used to fund essential community infrastructure.
The UK recently updated its implementing regulations giving effect to CRS and FATCA agreements, amending a number of aspects in the process. Hatice Ismail and Martin Shah (Simmons & Simmons) explain.
The OECD invites comments by 15 September 2017 on two BEPS discussion drafts, one dealing with the attribution of profits to permanent establishments (PEs) under BEPS Action 7, the other containing revised guidance on profit splits in relation to BEPS Action 10.