brought to you by TPS
Europe
- Cyprus circular on transfer pricing method for back-to-back loans – click here;
- Czech recovery package moving forward in parliament including corporate income tax increase – click here;
- Moldova clarifies tax obligations of enterprises distributing dividends that opted for corporate income tax payment deferral – click here;
- Turkey increases corporate tax rate and repeals certain exemptions – click here;
- UK publishes requirements for transfer pricing records – click here or here;
- France announces new transfer pricing measures for 2024 draft finance bill – click here.
Global
- OECD finds modest recovery in Asia-Pacific tax revenues in 2023 report – click here;
- OECD working papers on how taxation affects investment – click here;
- OECD notes progress on transparency and exchange of information in Latin America – click here;
- OECD releases 2023 report on tax transparency in Latin America – click here;
- OECD’s effort to simplify transfer pricing – click here;
- OECD: Public consultation on Amount B under Pillar One, initial observations – click here;
- OECD: New guidance on Pillar Two rules, initial observations and analysis – click here, here or here;
- The OECD and Global Forum support ECOWAS in strengthening the fight against BEPS and improving tax transparency in West Africa – click here;
- Opinion: Republicans risk more than they realize by opposing OECD – click here;
- Argentina establishes exceptional corporate income tax advance payment obligation in 2023 – click here;
- Argentina revises advance tax payment percentage for SMEs – click here;
- Singapore updates CbC report exchange relationships to include Aruba – click here;
- Costa Rica tax authority intends to scrutinize taxpayers claiming loss or zero profit on FY22 corporate income tax returns – click here;
- Papua New Guinea signs multilateral agreement on exchange of CbC reports – click here;
- U.S. JCT report providing background and analysis of the taxation of income earned by multinational enterprises – click here.
Romania
- Micro-enterprises in 2023: Firms exceeding the EUR 500,000 threshold could pay a 2.5% tax, according to Government measures (RO) – click here;
- Stake of the 15% tax rate on investors profits transferred abroad: annual additional EUR 1 billion amount to the budget. It is not clear what revenues the Government refers to (RO) – click here;
- The World Bank's proposals to cover the budget gap: progressive personal income tax, the elimination of tax incentives, the increase of the tax on dividends and threshold lowering for micro-enterprises (RO) – click here;
- Ministry of Finance wants to implement the E-Invoice in relation to invoices issued between companies from January 1, 2024, possibly using servers from Special Telecommunication Service institution, even if the dedicated IT system will not be purchased in time (RO) – click here;
- The budget deficit increased slightly after the first six months of the year, to 2.34% of GDP (RO) – click here;
- Marcel Bolos assures that the budget deficit will not exceed 5%. What fiscal measures can be taken (RO) – click here;
- PwC: Changing taxes without fiscal consolidation will create further imbalances (RO) – click here or here;
DAC6 and DAC7
- Belgian council of state invalidates royal decree on DAC6 administrative penalties – click here;
- DAC7 reporting: how NAFA will control the activity of sellers mediated by online platforms – click here;
- NAFA takes the first steps to implement DAC7. There will also be inspections to check compliance with the reporting obligation – click here.
