Oct. 13 — Australia’s Treasury released Oct. 10 an exposure draft proposing amendments to the income tax law to implement a three-year exploration development incentive, enabling Australian-resident investors to claim deductions for their investments in small mineral exploration companies.
The measure is part of the government’s election... [Read more of this article]
By Joe Kirwin
The European Union is expected to take its next major step in combating tax evasion Oct. 14 when finance ministers vote on a FATCA-inspired measure requiring automatic exchange of data about dividends, capital gains and other income generated from assets held in a financial account.
The move to expand the EU administrative cooperation... [Read more of this article]
By Alison Bennett
Oct. 9 — Switzerland’s move toward a Model 1 intergovernmental agreement under the U.S. Foreign Account Tax Compliance Act marks a milestone as more countries agree to share information to ward off tax evasion, practitioners said.
Switzerland’s Federal Council announced Oct. 8 that it has adopted negotiation mandates... [Read more of this article]
By Kevin A. Bell
Oct. 3 — A U.S. Treasury official said developing countries, such as China and India, that adopt the Organization for Economic Cooperation and Development’s proposed country-by-country reporting template are unlikely to expand the template to the originally proposed 18 columns.
Responding to a question from Herman Bouma of... [Read more of this article]
Oct. 1 — The Organization for Economic Cooperation and Development announced that the work under its joint project with the Group of 20 countries to combat base erosion and profit shifting will include a discussion draft on value-added tax business-to-consumer (B2C) transactions in early December.
The deadline for comments on the draft will be in... [Read more of this article]