Page 30 - Inclusive Framework News Today

Expert guidance ensures all submissions are correct, thus avoiding unnecessary penalties.

Numerous MNEs express their views on the OECDs digital tax proposals Many tax professionals have been watching the public consultations held on January 14 and 15 on the pillar one and pillar two blueprints. Ahead of the live event, ITR highlighted the views of some large businesses including Unilever, Netflix, Microsoft and Uber. Live commentary from ITR’s Josh White covered the key developments during day one of the virtual consultations where these businesses, and many others, shared thei...

MONEYWEB app instead? OECD’s two-pillar approach is arguably the most aggressive tax reform proposal in a hundred years. 00:01  The tech giants in particular pay very little tax on their hugely profitable global operations – or the data that users freely give away. Image: Jason Alden, Bloomberg How can large multinationals – including Amazon, Google and a host of others – get away with paying very little tax on their immensely profitable global operations? It’s a nigg...

Pascal Saint-Amans, director of the OECDs Centre for Tax Policy Administration (OECD) The first day of the OECDs consultation may be over, but there is still a lot to discuss. The OECD will be hosting a day of consultation on its pillar two blueprint on January 15. The next step for the Paris-based organisation is the G20/Inclusive Framework meeting on January 27-29. Yet there is just six months left to reach a final agreement. -------------------------------------------------------------------...

The OECD holds its public consultation on its pillar one and pillar two blueprints to reform international tax, ITR reports live.

The pandemic has led to increased consumption of digital services New tax challenges arise daily as a result of emerging and continuous innovation, new technology, and business models that test the boundaries of the tax status quo. Countries and organisations are trying to be at the forefront of tax innovation by researching and developing mechanisms to address these challenges. Portugal has recently given its first contribution, although small, to this pursuit: a Portuguese ‘Netflix tax’, ...

The OECD published specific guidance on financial transactions in February 2020 Excessive debt financing has always been on the eye of tax authorities in order to protect their tax base. This is because multinational enterprises (MNEs) have the option to finance their activities with debt or equity each being subject to different tax treatment, and as a result, from a tax perspective, debt financing is considered more advantageous as opposed to equity. Nevertheless, countries have introduced ce...

Michael Devereux, Clemens Fuest, Ben Lockwood The current tax international rules, designed in the 1920s, aimed to reconcile two main objectives: avoiding double taxation and allowing countries to tax multinationals operating in their territories. In a digital world, these rules are not effective in controlling the behaviour of multinational enterprises, which can easily take advantage of differences in corporate tax rates (through what the OECD calls ‘base erosion’ and ‘profit shifting�...