controlled foreign corporations (CFC) News

Dutch Report On Reforming Tax Rules For Multinationals Published
by Ulrika Lomas, Tax-News.com, Brussels
Friday, May 1, 2020
On April 15, 2020, a government-commissioned report on the taxation of multinationals was submitted to the State Secretary of Finance recommending various changes to make the Dutch tax system fairer while maintaining the jurisdiction's tax competitiveness. Read Full Story

Democrat Bill Targets GILTI High-Tax Exclusion
by Mike Godfrey, Tax-News.com Washington
Thursday, February 20, 2020
Democrats in the United States Senate have introduced a bill that would block proposals to introduce a "high-tax exemption" to the Global Intangible Low-Tax Income regime. Read Full Story

Netherlands Adds To Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, December 31, 2019
Barbados and Turkmenistan have been added to the Netherlands' list of low-tax jurisdictions for the purposes of enforcing certain anti-tax avoidance rules, the Dutch Ministry of Finance announced on December 30, 2019. Read Full Story

IRS Grants Relief For US Persons Affected By Section 958 Repeal
by Ulrika Lomas, Tax-News.com, Brussels
Friday, October 4, 2019
On October 1, 2019, the United States Treasury Department and the Internal Revenue Service announced a relief for certain US persons that own stock in certain foreign corporations. Read Full Story

SARS Announces Temporary Relief From New CFC Reporting Rules
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, March 16, 2018
The South African Revenue Service has announced that it will temporarily permit taxpayers to report information on controlled foreign corporations under the old filing rules, which were replaced in February. Read Full Story

South Africa Legislates For Budget Tax Changes
by Lorys Charalambous, Tax-News.com, Cyprus
Thursday, July 20, 2017
The South African Revenue Services and the National Treasury on July 19 released for public comment draft legislation that would give effect to the tax proposals announced in the February Budget. Read Full Story

OECD Backs US International Tax Reform Efforts
by Ulrika Lomas, Tax-News.com, Brussels
Friday, June 17, 2016
The Organisation for Economic Co-operation and Development has, in its recent economic survey of the United States, welcomed steps taken by the Government to reform the country's international tax system. Read Full Story

US House Democrats Propose Corporate Exit Tax
by Mike Godfrey, Tax-News.com, Washington
Wednesday, May 4, 2016
A bill has been introduced by Lloyd Doggett, a senior member of the US House Ways and Means Committee, with the support of 50 other Democrat Representatives, to impose an exit tax on corporations that undertake corporate tax inversions or otherwise renounce their American citizenship. Read Full Story

SARS Issues Guide On Headquarter Company Taxation
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, February 23, 2016
The South African Revenue Service has issued an interpretation note that provides guidance on the application of the Income Tax Act to headquarter companies. Read Full Story

Ryan Questions If Tax Waivers Part Of US-Iran Deal
by Mike Godfrey, Tax-News.com, Washington
Friday, September 25, 2015
US House of Representatives Ways and Means Committee Chairman Paul Ryan has sent a letter to President Barack Obama asking him to clarify whether he intends to waive tax code provisions directed at illicit Iranian behavior. Read Full Story
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