brought to you by TPS
Romania
- NBR reduces monetary policy interest rate from 1.75% to 1.5% and maximum interest rate from 2.25% to 2%, which will imply a further decrease in ROBOR – click here
- NAFA did not reach its revenue target in 2019, but collected more than in 2018. Regarding transfer pricing audits, the performance report presents the measures taken by NAFA for initiation of tax inspections in accordance with the BEPS plan and the ATAD Directive (i.e. approval of CbcR form, risk analysis based on information exchange in accordance with Action 5 and 13, setting up a transfer pricing working group, TP training sessions), the APAs approved during FY 2019 and information about additional taxes payable by companies established as a result of tax inspections – click here
- Tax reductions for companies that will increase their capitalization and for those that move to positive equity – click here
- NAFA: Fiscal facilities for electronic cash registers put into operation – click here
- The number of NAFA employees dropped below 23,000. After 2,000 unoccupied positions were erased at the beginning of the year, about 2,650 are now vacant. In the absence of young employees, the average age of staff has become higher – click here
EU
- Apple+Ireland vs. Brussels: the iCase of transfer pricing seen through 13 +1 recitals – click here
- Website about EURO area and National Central Bank statistics (i.e. tool for comparison of bank interest rates, bank balance sheet, competitiveness indicators, external sector, financing and investment dynamics, inflation rates, investment funds, macroeconomic indicators and securities of EURO area countries) – click here
- Belgian tax audits: Increased focus on passive income streams and international cooperation – click here
- Digital platforms are in the spotlight of the European Commission - DAC 7 is being prepared! – click here
Global
- Stewart Brant sets out the OECD’s response to 2020 challenges – click here
- United States: IRS concept unit on accuracy-related penalties, tax professionals urge caution – click here
- United States: Initiative for voluntary resolution of state-level transfer pricing issues (North Carolina) – click here
- Australia updates transfer pricing legislative reference to OECD guidance – click here
- Vietnam issues decree amending loan interest deductibility cap and draft decree on related party transactions – click here
- Hong Kong revises DIPN on APAs to help address tax uncertainties – click here
- Singapore increases scrutiny on commodity trading and marketing companies – click here
- Philippines requires transfer pricing information return – click here
- Korea announces 2020 tax reform proposals – click here
- Ecuador: Transfer pricing methodology for banana exports; other transfer pricing reforms – click here
DAC 6
- For the latest developments and news concerning DAC6 – click here
