brought to you by TPS
Europe
- EU: CFE’s Tax Top 5 – 3 February 2025 – click here;
- Finland: Updated Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) frequently asked questions – click here;
- Spain: Updated guidance on common errors in Common Reporting Standard (CRS) information received via Form 289 – click here;
- Switzerland: Switzerland consulting on global minimum tax info exchange – click here;
- UK: HM Revenue and Customs (HMRC) transfer pricing and diverted profits tax statistics for FY 2023-2024 – click here and here;
- UK: Consultation on supplementary draft guidance on Pillar Two global minimum tax rules – click here;
- UK notified Belarus and the Russian Federation about its intention to suspend the Double Taxation Agreements (DTAs) with those jurisdictions – click here;
Global
- OECD: OECD releases latest peer review results on preferential tax regimes under Base erosion and profit shifting (BEPS) Action 5 – click here for the press release;
- OECD: OECD Public consultation document: Determining the Price of Minerals: A transfer pricing framework for Lithium - joint OECD/IGF (i.e. Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development) public consultation – click here;
- Channel Islands: Guidance on common errors in Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting – click here;
- India: Tax measures in budget 2025-2026 - Measures related to direct and indirect tax, transfer pricing, and customs duties – click here and here;
- Kazakhstan: Changes to transfer pricing laws included expanded reporting and disclosure requirements – click here;
- Oman: Income tax treaties signed with Cyprus, Tanzania, and Bahrain – click here;
- Singapore: The Inland Revenue Authority of Singapore (IRAS) updates lists of reportable, participating jurisdictions for Common Reporting Standard (CRS) – click here;
- US: The Multistate Tax Commission (MTC) Workgroup issues proposal to define digital products for state taxation – click here;
Romania
- Analysts: Romania's credit rating downgrade does not mean economic collapse. The coming months are decisive (RO) – click here;
- Minister of Finance, Tanczos Barna: the Government is preparing to tax cryptocurrency transactions, online transactions and modern transactions outside the classical banking sphere (RO) – click here and here;
- PwC Report: Almost three quarters of companies expect more tax inspections in the next 3-5 years. Over 40% of inspections turn into litigation (RO) – click here and here;
- Tax obligations calendar for February 2025: What are the tax obligations that companies have in the second month of this year? (RO) – click here;
- “Pole” tax in 2025 - the construction tax. Taxpayers who have this obligation must modify the fiscal vector (RO) – click here and here;
- Payment deferrals for 2025. How does NAFA modify the procedure for granting payment deferrals in classic and simplified form (RO) – click here;
- NAFA has published the "list of shame" and the “white list” of taxpayers for the fourth quarter of 2024 (RO) – click here and here;
- NAFA collected RON 41.6 billion in January, an increase of 7.5% compared to last year, the Prime Minister announced. In the draft version of the budget, the state's total revenues in 2025 must increase by 16.2% (RO) – click here;
- e-Invoice 2025. What companies need to know about invoices in B2B and B2C relationships (RO) – click here;
TP Cases
- Romania: UiPath sued NAFA. Tax inspection launched. The first Romanian unicorn negotiates transfer prices with tax authorities in the US and Romania – click here;
- UK: Payments to settle regulatory investigation deductible; claim for cross-border group relief barred – click here;
Webinars
- Romania: List of webinars for February, published on the NAFA portal – click here.
