OECD proposes new disclosure rules
The Common Reporting Standard (CRS) is an approved global standard for the automatic exchange of information between tax authorities of individual states. It aims to prevent tax evasion and money laundering. Within the CRS, selected information on…
EU finance ministers discuss new digital economy rules
An informal meeting of the EU’s finance ministers and central bank governors took place in Tallinn in September and addressed, among other things, taxation issues in the context of the digital economy. The ministers looked into new approaches to the…
New reporting duty for entities that are part of multinational groups
A long-awaited amendment to the Act on International Cooperation implementing a new information exchange duty, i.e. country-by-country reporting, into Czech legislation was published in the Collection of Laws on 19 September 2017.
OECD releases draft update of Model Tax Convention
The OECD Committee on Fiscal Affairs has just released a draft update of the OECD Model Tax Convention. Neither the Committee on Fiscal Affairs nor the OECD Council have yet approved the update, but some significant parts have already been…
2017 OECD Transfer Pricing Guidelines
On 10 July 2017, the long awaited 2017 OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (2017 Transfer Pricing Guidelines) were released. The new edition counting 612 pages replaces the previous Transfer Pricing…
EC presents additional tools to fight aggressive tax planning
The launch of an application to report illegal business practices and the establishment of a special unit of the European Commission – these measures are intended to help the EU tackle aggressive tax planning. Information gained through these tools…
OECD makes blanket change to double tax treaties
In November 2016, OECD released a multilateral convention that will affect the application of double tax treaties. The instrument implements the outcomes of the BEPS Action Plan into more than 2 000 tax treaties. A signing ceremony has been planned…
OECD releases a multilateral instrument to modify double taxation treaties
Late in November, more than 100 states concluded negotiations on the wording of a new multilateral convention, which is an important part of the OECD’s action plan against base erosion and profit shifting (BEPS). This multilateral instrument will…
G20/OECD revise their programmes to facilitate dispute resolution between tax administrations
In October, the OECD released key documents that form the basis of the Mutual Agreement Procedure (MAP) peer review and monitoring process under Action 14 of the BEPS Action Plan.