International Tax News

Switzerland, Netherlands Amend Double Tax Pact

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 13, 2019

Switzerland and the Netherlands have signed a protocol to their double tax agreement that will bring it into line with international standards. Read Full Story

OECD Fleshes Out Int'l Tax Reform Plans During BEPS Webcast

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 13, 2019

During a webcast on June 11, the OECD provided a technical update on its work to develop new, modernized international tax rules for the digitalized economy. Read Full Story

Brazil Releases 2019 Tax FAQs For Corporations

by Mike Godfrey, Tax-News.com, Washington

Thursday, June 13, 2019

Brazil's General Coordination of Taxation (COSIT) has announced the release of the 2019 edition of the comprehensive FAQs for legal entities, updated with changes made to Brazil's corporate tax, social security, and international tax provisions in 2018. Read Full Story

New EU Requirements For IFRS Financial Statements From 2020

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 13, 2019

The European Commission has announced that listed companies that prepare consolidated financial statements using IFRS Standards will be required to tag their primary financial statements using the IFRS Taxonomy for financial years starting on or after January 1, 2020. Read Full Story

US House Passes IRS Reform Bill

by Mike Godfrey, Tax-News.com, Washington

Thursday, June 13, 2019

On June 10, 2019, the United States House of Representatives approved legislation which would reform the rules governing the Internal Revenue Service. Read Full Story

Brazil, Uruguay Agree Anti-BEPS Provisions In New Treaty

by Mike Godfrey, Tax-News.com, Washington

Thursday, June 13, 2019

Brazil and Uruguay have included provisions to tackle base erosion and profit shifting in a new double tax agreement, signed on June 7, 2019. Read Full Story

New Zealand Tweaking GST Rule Changes For Offshore Suppliers

by Mary Swire, Tax-News.com, Hong Kong

Thursday, June 13, 2019

New Zealand's Finance and Expenditure Committee has recommended changes to legislation that would introduce a new requirement for offshore suppliers to collect GST on low-value goods supplied to New Zealand-based consumers. Read Full Story

Ireland Consults On Capital Gains Tax Relief Review

by Jason Gorringe, Tax-News.com, London

Thursday, June 13, 2019

The Irish Finance Department has launched a consultation on potential changes to the capital gains tax revised entrepreneur relief. Read Full Story

IRS To Probe Deeper Into Cost-Sharing Arrangements

by Mike Godfrey, Tax-News.com, Washington

Thursday, June 13, 2019

The US Internal Revenue Service has directed its transfer pricing examiners to resume reviewing taxpayers' transfer pricing positions with respect to cost-sharing agreements in certain circumstances. Read Full Story

EU Takes Action Against Spain Over Rules On Reporting Of Assets

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 13, 2019

The European Commission is taking Spain to the Court of Justice over the imposition of "disproportionate" sanctions for failure to report assets held abroad. Read Full Story

Luxembourg Ministers Endorse EU VAT 'Quick Fixes'

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, June 5, 2019

Luxembourg's Government Council, comprising government ministers, has approved legislative changes to the territory's VAT regime to introduce the four quick fixes to improve the functioning of VAT rules in the European Union. Read Full Story