brought to you by TPS
Europe
- Dexit, Frexit, Polexit: debates about the exit of large economies from the EU are reviving on the eve of the European Parliament elections – click here;
- AG (advocate general) elaborates on legal professional privilege and exchange of information on request – click here;
- CFE’s Tax Top 5 – 3 June 2024 – click here;
- Reasoned opinions sent to six Member States for incomplete transposition of the EU Public Country-by-Country (CbyC) Reporting Directive – click here;
- Germany: Consultation launched on draft tax return for Pillar Two purposes – click here;
- Belgium: Urgent Registration Requirement for Belgian Entities Under Pillar Two Rules – click here;
- Spain publishes synthesized text of tax treaty with Armenia under BEPS MLI – click here and here;
- Italy: Decree on Pillar Two transitional safe harbor rules published – click here and here and here;
- Greece: New code of tax procedures revises tax system – click here;
- Cyprus issues new clarifications on transfer pricing rules – click here;
- Bulgaria: US, Bulgaria sign CbC exchange agreement – click here;
- Serbia: Rulebook on arm’s length interest rates for 2024 – click here for the press release and here for the report;
Global
- United States negotiates CbC exchange deal with Dominican Republic – click here;
- Australia publishes synthesised text of tax treaty with China regarding BEPS MLI – click here;
- Australia: Public country-by-country reporting bill introduced into parliament – click here and here;
- Australia Passes Comprehensive Tax Legislation: Key Changes for Financial Advisors, Petroleum Exploration, and Transfer Pricing – click here;
- Barbados: Tax reform enacted, including Pillar Two legislation – click here;
- Fiji and Moldova join inclusive framework and agreement on international tax reform – click here;
- Azerbaijan approves BEPS MLI agreement – click here;
- Malaysia publishes synthesised text of tax treaty with Luxembourg under BEPS MLI – click here;
- OECD: Updated FAQs released on International Compliance Assurance Programme – click here and here;
- OECD: Pillar One update: Statement released from co-chairs of BEPS inclusive framework – click here and here;
- OECD: Guidance on implementation of CbC reporting updated (May 2024) – click here and here and here for the press release and here for the OECD guide;
Romania
- Sanctions applied by NAFA increased in the first five months by 163%, to RON 171 million (RO) – click here and here and here;
- The calendar of the fiscal obligations for June 2024: What are the fiscal obligations that taxpayers need to fulfil this month (RO) – click here and here to read the press release and click here to read the NAFA fiscal agenda;
- Ana Sebov and Cristina Pop, PwC: New regulations on preventing and combating money laundering and intensifying the inspections of the financial institutions in EMEA (Europe, Middle East and Africa) (RO) – click here;
- NAFA online seminars in June 2024: Income tax for micro-enterprises, taxation of rents and others (RO) – click here; The online registration can be performed here;
- Companies may be fined during NAFA inspections for invoices prior to May 31 that are missing from the e-Invoice system (RO) – click here;
- Project of the Ministry of Finance: amending and supplementing Law no. 227/2015 regarding the Fiscal Code, as well as other fiscal measures (RO) – click here for the press release and here for the project of the Government Emergency Ordinance (GEO);
- Updated Common Reporting Standard (CRS) guidance on OECD FAQs (RO) – click here for the press release; The OECD guide can be read here;
TP Cases
- United States: Eleventh Circuit: IRS violated APA notice and comment procedures in issuing Notice 2017-10 (RO) – click here.
