brought to you by TPS
Europe
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EU: In the latest contribution to the European Commission’s Public Consultations, TPS has argued that joint audits should serve as means of dispute prevention and made some recommendations on transparency in the use of DAC Data - click here; Here are the other contributions provided by TPS - click here;
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OECD: Report on Simplified Peer Review of Iceland under BEPS Action 14 - click here;
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EU: EU Economic and Financial Affairs Council reaches deal on DAC9 - click here;
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Bulgaria: Competent Authority Arrangement for Exchange of CbC Reports between Bulgaria and the U.S. in Force - click here;
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Denmark: New Pillar Two reporting requirements introduced in 2024 corporate income tax return - click here;
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Finland: Updated Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) FAQs - click here;
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Germany: Germany publishes Amendment Regulation for Exchange of CbC Reports with Albania, Armenia, Montenegro, and Ukraine - click here;
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Italy: Update - Decree for Italian Global Minimum Tax Notification Form Published in Official Gazette - click here;
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EU: The European Commission calls on Spain to allow for a deduction of directly related expenses when calculating the withholding tax due over cross-border royalty payments - click here;
Global
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Australia: Australian Taxation Office (ATO) issues guidance on public CbCR exemptions - click here;
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Chile: Chile introduces new advance pricing agreement process - click here;
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Costa Rica: Draft resolution on CRS reporting criteria open for public consultation - click here;
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Dominica: Mutual agreement procedure (MAP) guidelines - click here;
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Kazakhstan: Changes to rules for monitoring cross-border transactions; additional deductions for R&D expenses - click here;
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Mongolia: MLI effective January 1, 2025; other direct and indirect tax developments - click here;
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OECD: Report on Simplified Peer Review of Peru under BEPS Action 14 - click here;
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Turkey: Turkey rejects OECD’s Pillar One Amount B implementation - click here;
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United Arab Emirates: Federal Tax Authority (FTA) publishes decision No. 2 of 2025 on tax clarifications and directives, including advance pricing agreements - click here;
Romania
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A new attempt at financial fraud in the name of NAFA (RO) - click here;
- SAF-T filing deadlines for all types of companies (RO) - click here;
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Announcement from the Anti-Fraud Authority - Which businesses are targeted for inspection in 2025 (RO) - click here;
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An NAFA vice president believes that the VAT gap will be reduced by double digits with the help of the standard SAF-T file, as well as e-transport, e-VAT, and e-invoice (RO) - click here;
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PwC Romania Annual Tax Conference: The current government will maintain the flat tax rate. The implementation of SAF-T and other digital solutions could reduce the VAT gap by double digits (RO) - click here;
TP Cases
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Canada: Late amendment by tax authority in transfer pricing dispute allowed (Tax Court decision) - click here;
Webinars
- EU: How to Leverage your Transfer Pricing Documentation to Produce your ESG Reporting in Europe, Mar 19, 2025 - click here.
