Monday, September 15, 2014

Global Tax News and Analysis

Nations’ Domestic FATCA Requirements Could Complicate Compliance, Practitioners Say

By Rick Mitchell Aug. 26 —  The U.S. has signed several dozen bilateral intergovernmental agreements since 2012 in an effort toward uniform implementation of the international tax information reporting standard set out in the Foreign Account Tax Compliance Act. The agreements, referred to as IGAs, have differences, stemming chiefly from specific... [Read more of this article]

UN Report: Asia/Pacific Area Should Create Forum to Coordinate Taxes, Transfer Pricing

By Alex M. Parker Aug. 21 —  A new report from a United Nations panel on Asia and the Pacific recommends the creation of a “regional tax forum” to address issues such as double taxation and tax competition. The forum, which would be part of the UN Economic and Social Commission for Asia and the Pacific, would aim to increase revenue collection... [Read more of this article]

Consumption tax treatment of cross-border supplies of services

Miyuki Murata and James Dodds, KPMG Japan Japan is anticipated to make significant changes to its consumption tax regime, to address the competitive imbalance stemming from the tax treatment of cross-border supplies of services that sees only domestic but not foreign suppliers of digital content subject to tax. Under the current Japanese consumption... [Read more of this article]

Structuring Chinese Real Estate Investments Into the U.K. and U.S.

By Keith O’Donnell, Samantha Merle, Emilie Fister, Kevin Hindley and Juan Carlos Ferrucho, Taxand  Chinese outbound investment into real estate increased to $8.3 billion in 2013 (including a 124 percent increase to $7.6 billion in commercial real estate) with the U.K. and U.S. commercial real estate markets being the biggest targets for investment.... [Read more of this article]

Russia Approves New Model Tax Information Exchange Agreement

Aug. 18 —  The Russian government approved a new model tax information exchange agreement between the Russian Federation and foreign countries on information exchange on tax matters. The government adopted Decree No. 805 in an effort to increase transparency of financial transactions between taxpayers and offshore jurisdictions, the government press-service... [Read more of this article]

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