Europe

  • Germany: The Ministry of Finance (MOF) publishes final guidance on Tax Haven Defense Act – click here;
  • Germany approves Act to apply BEPS MLI to nine tax treaties – click here;
  • Italy proposes draft public CbCR legislative decree – click here;
  • Czech Republic updates jurisdictions list for automatic exchange of financial account information – click here;
  • CFE’s Tax Top 5 – 24 June 2024 – click here;
  • Conclusions of June 21 ECOFIN meeting – click here for the press release and here for the report;

Global

  • OECD: Resource guide on the OECD's Pillar One Amount B report – click here;
  • Navigating Transfer Pricing vis-à-vis Environmental, Social, and Governance (ESG) norms – click here;
  • Accounting for income tax implications of Pillar Two GloBE top-up taxes – click here for the press release and here for the report;
  • United States: KPMG report: Treasury and IRS guidance on partnership “basis shifting” transactions – click here for the press release and here for the report;
  • Switzerland and the United States agree on a mutual exchange of financial account data that is expected to apply from 2027 – click here;
  • Canada: Outstanding tax measures enacted, including Pillar Two, EIFEL, hybrid mismatch, clean economy, and GAAR – click here for the press release and here for the report;
  • Australia: Global and domestic minimum tax – click here;
  • Mexico: Uncertainty remains regarding deductibility of net interest at group level – click here;
  • Singapore: IRAS publishes the seventh edition of the e-tax guide on transfer pricing – click here;
  • Chile extends deadline for transfer pricing tax forms submission – click here;
  • Azerbaijan publishes law ratifying BEPS MLI – click here;
  • Algeria signs BEPS MLI – click here;

Romania

  • Real time tax reporting – major objective at EU level, including in Romania (RO) – click here;
  • New regulation expands e-invoicing mandate to B2C transactions (RO) – click here;
  • Avalanche of fiscal changes from July 1st. What are the new rules that companies need to apply regarding e-Invoice, e-Transport and e-VAT (RO) – click here;
  • Members of the Organization of Women Entrepreneurs (OWE) within the General Union of Industrialists in Romania (GUIR) demand the Government to abandon e-VAT and the extension of e-Invoice (RO) – click here;
  • Fiscal measures document: changes applied to e-VAT. The compliance notice will be submitted in 20 days – project draft (RO) – click here for the press release and here for the Government Emergency Ordinance (GEO) project;
  • Scenarios under discussion – The increase of the VAT rate to 22% and the increase of the income tax rate to 16%. Budget spendings frozen for 2 years (RO) – click here and here;

TP Cases

  • Full Federal Court rules in favour of PepsiCo / Australia vs PepsiCo, Inc., June 2024, Full Federal Court, Case No [2024] FCAFC 86 – click here and here.

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Note: Please note that TPS could not be held responsible for the content and accuracy of the information obtained by accessing these websites, nor for the consequences resulted from any activities one performs based on this information. Even though we are monitoring the outbound links, we do not have control over the availability of the information offered by external references or how often the information is updated.

Contacts

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phone: 0040 742 159 142

 

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