Friday, July 25, 2014

Global Tax News and Analysis

Chair of OECD Working Party: September Revised Intangibles Chapter Won’t Be Final

By Kevin Bell July 23 —  Revised Chapter 6 of the Organization for Economic Cooperation and Development transfer pricing guidelines on intangibles, which will be released publicly by the organization in September, will not be final guidance, the chair of Working Party No. 6. said July 23. Michelle Levac, a transfer pricing specialist with the Canada... [Read more of this article]

UN BEPS Panel Plans October Report, Issues Responses From Brazil, Mexico, Singapore

By Kevin A. Bell July 17 —  A subcommittee of the United Nations’ Committee of Experts on International Cooperation in Tax Matters will report on base erosion and profit shifting issues to the committee in October, and has published details from a trio of countries on their experience on BEPS issues so far. Michael Lennard, chief of the UN’s... [Read more of this article]

Australia Nixes Carbon Tax; Environmental Groups Denounce Return to ‘Bad Old Days’

By Murray Griffin July 17 —  The Australian Senate July 17 abolished the country’s two-year-old carbon tax on the largest emitters of greenhouse gases, making good on the new conservative government’s pro-business pledge but raising questions about the country’s strategy to address climate change. The Senate passed, 39-32, a series... [Read more of this article]

Senate Foreign Relations Panel OKs Treaties With Poland, Spain, but Paul Plans to Object

By Alison Bennett July 16 —  The Senate Foreign Relations Committee greenlighted U.S. tax treaties with Poland and Spain for consideration by the full Senate, but the accords will continue to face objections from Sen. Rand Paul (R-Ky.). The panel approved the Spain and Poland accords by voice vote July 16. Foreign Relations Committee Chairman Robert... [Read more of this article]

Overview of China’s tax regime — the present and the future

Eddie Wang and Veronica Xia, Taxand China In the context of its rapid economic growth, particularly over the past decade, there have been calls for a more streamlined and efficient taxation system in China, both from the perspective of taxation structure as well as administration. Profound renovations have made in the past few years, but challenges... [Read more of this article]

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