brought to you by TPS
Europe
- European Commission and Council release statements on BEPS 2.0 progress – click here;
- European Commission Adjusts Phase-Out of State Aid Temporary Crisis and Transition Framework – click here;
- Czech Parliament Approves Law Containing Various Budget and Tax Reform Measures for 2024 Including Corporate Tax Rate Increase and Public CbC Reporting – click here;
- Finland Publishes Synthesized Text of Tax Treaty with Romania as Impacted by the BEPS MLI – click here;
- Italian Government Empowered to Implement Incentives Reform – click here;
- Luxembourg updates draft legislation on implementation of the EU Minimum Tax Directive – click here;
- Moldova Regulates Implementation of Automatic Exchange of Financial Account Information – click here;
- Norway Publishes Synthesized Text of Tax Treaty with the UK as Impacted by the BEPS MLI – click here;
- Spain Publishes Synthesized Text of Tax Treaty with Vietnam as Impacted by BEPS MLI – click here;
Global
- Multinational enterprises continue reporting low-taxed profit, even in jurisdictions with high corporate tax rates, underlining need for global tax reform – click here;
- Corporate Tax Statistics 2023 – click here;
- Statutory Corporate Income Tax Rates – click here;
- OECD: Aggregated country-by-country reporting data – click here;
- The OECD released the Corporate Tax Statistics 2023 and the accompanying working paper “New evidence on global low-taxed profit” – click here;
- KPMG report: Pillar Two implications for “U.S. sandwich structures” – click here;
- ITR Awards 2024 opens for nominations – click here;
- Platform for Collaboration on Tax Releases Progress Report 2023 – click here;
- Indo-Pacific Economic Framework For Prosperity Partners Sign Supply Chain Agreement – click here;
- Canada's new trust reporting requirements apply for first time to 2023 tax year – click here;
- Fiji Joins Global Forum on Transparency and Exchange of Information for Tax Purposes – click here;
- Taiwan Notice on Payment of Assessed Provisional Enterprise Income Tax – click here;
- Barbados to levy 9% corporate tax, adopt global minimum tax – click here;
- Indian Supreme Court urged to review MFN tax ruling – click here;
- Russia Introducing List of Jurisdictions Not Exchanging Country-by-Country Reports – click here;
- Azerbaijan Signs BEPS MLI – click here;
- Bermuda government releases draft legislation for adoption of a 15% corporate income tax – click here;
- Bermuda Launches Third Consultation on Corporate Income Tax Regime for Large MNEs in Response to Pillar 2 Global Minimum Tax – click here;
Romania
- Officials of the Directorate General for Tax Fraud do not use the NAFA Call Center in dealing with taxpayers (RO) – click here;
- From 1 July 2024 the tax rate for income that cannot be substantiated increases to 70% (RO) – click here;
- Stopping tax evasion: Romanians who report tax evaders could receive 1% of the value of the fraud, announces Marcel Bolos (RO) – click here;
- Deloitte assisted NAFA in the project to amend the tax inspection legislation. Dan Badin, partner: The completion of this project is a step forward in the modernization of the inspection activity, but it represents only one stage of the reform process, which must continue with the implementation of a modern integrated risk management system (RO) – click here;
- Budget forecast for FY 2024. Budget revenues increase by 9% to RON 536 billion, but there are many unknowns in the budget equation (RO) – click here;
- Flat rate of 16% with no exceptions or progressive tax? Marcel Bolos: We are waiting for the budgetary impact of the tax measures. Today we took out RON 13.6 billion from the Reserve Fund (RO) – click here;
- Transfer pricing among cross-border expansion challenges for IT start-ups (RO) – click here;
- The Prime Minister will decide on changes at the top of the institutions with audit and control attributions under the Ministry of Finance (RO) – click here;
- Clear signals from the NBR that new tax hikes are expected. Economy slows more than expected and will grow below potential (RO) – click here;
- Proposal to return to half payment of fines in 15 days for contraventions of the Accounting Act, Tax Code, Tax Procedure Code. PNL wants to repeal a provision it introduced in coalition with PSD (RO) – click here;
- Changes for individuals. Documents in a foreign language may be submitted to NAFA only with a certified translation (RO) – click here;
- Anti-fraud inspections: fines of over RON 8.3 million imposed by General Anti-Fraud Directorate inspectors (RO) – click here;
Webinars
- Creating Comprehensive Audit Trails for DAC6 in Transfer Pricing Engagements | November 29 @ 4:00 pm - 5:00 pm – click here;
- Quantera Global 10 years webinar series: Financial Transactions | Thursday 30 November, 2023 – click here;
- Quantera Global 10 years webinar series: Scandinavia | Thursday 14 December, 2023 – click here.
