brought to you by TPS
Romania
- In just four months, Romanian’s public debt increased by 32 billion RON, the equivalent of 3% of GDP – click here;
- GDP / capita increased in Romania from 62% in 2018 to 65% in 2019 – click here;
- The Romanian government has adopted postponing the payment of taxes until October 25 and exempting Horeca – click here.
Europe
- CFE’s Tax Top 5 – KEY TAX NEWS OF THE WEEK – click here;
- Integration of digital technology by enterprises – click here;
- Spanish Supreme Court rules on limits to dynamic interpretation of tax treaties – click here;
- Cyprus: Notional interest deduction, new reference rate rules – click here;
- Czech Republic: MLI deposited with OECD – click here;
- Finland: Updated FATCA and CRS / DAC2 guidance – click here;
- Denmark vs. Icemachine Manufacturer A/S – click here;
- The Puma Nordic and Columbia Sportswear transfer pricing cases and the limits of the TNMM – click here;
- Norway Supreme Court rules in favor of Shell subsidiary in transfer pricing dispute – click here;
- Turkey’s Central Bank now requires certain companies to submit weekly report of foreign exchange position – click here;
- Double taxation risk for Irish incorporated UK tax resident companies – click here.
Global
- The Latest on BEPS and Beyond | June 2020 edition – click here;
- Transfer prices based on EBITDA, not EBIT – click here;
- KPMG’s Week in Tax: 15 - 19 June 2020 – click here;
- KPMG report: APAs and COVID-19 – click here;
- Saudi Arabia issues taxpayer guidance for MAP – click here;
- Updated transfer pricing guidelines in Saudi Arabia – click here;
- Australia: Updated information for country-by-country reporting 2020 – click here;
- Australia tightens rules on foreign investment – click here;
- US, Curacao agree to exchange country-by-country tax reports on large multinational groups – click here.
Digital economy
- OECD: Statement about ongoing negotiations, taxation of digital economy – click here;
- Google, Amazon, Facebook, Apple and Netflix as the apple of discord between the US and Europe: Americans accuse unfair taxation, while EU wants budget contributions – click here;
- France announces the application of digital tax this year, regardless of whether the United States returns to negotiations or not – click here;
- United States reportedly withdrawing from talks with EU on digital services tax – click here;
- Philippines proposes law for taxation of the digital economy – click here;
- Kazakhstan: Legislative proposal for regulation of digital technologies – click here;
- Costa Rica: VAT on cross-border digital services – click here;
- Mexico: VAT and digital services, foreign residents without permanent establishment – click here.
COVID-19
- COVID-19 economic impacts on transfer pricing arrangements – click here;
- Czech Republic: Deadline extended for tax returns, payments to 18 August 2020 (COVID-19) – click here;
- Switzerland – COVID-19: New Agreement on Cross-Border Workers with Germany – click here.
Webinars
- EY Webinar: How do we rebuild Romania? – 25.06.2020 – click here.
