A Digital Single Market for Europe – Commission sets out its strategy – Modernizing VAT for cross-border e-commerce
On 6th May 2015, the European Commission announced its Digital Single Market Strategy for Europe. The aim is to remove the barriers which currently hinder EU based companies to grow and to be (more) competitive with the world’s Internet giants. In the context of VAT, the Commission should make legislative proposals in 2016 to modernize
FATCA – Belgian draft Guidance Notes published
The Federal Public Department of Finance has released the Belgian FATCA Guidance Notes in draft format. For more information about the draft, you can read the 138-page text here: http://finances.belgium.be/fr/binaries/2015-04-belgian-guidance-notes-draft_tcm307-266568.pdf Additional information about the implementation of FATCA in Belgium can be found on the Federal Public Department of Finance’s website: http://finances.belgium.be/fr/E-services/fatca/. Belgian contacts: Stéphane Martin
Cayman Tax: tax transparency for ‘legal constructions’
Currently, a bill of law is discussed at the level of the Belgian federal government concerning the so-called Cayman Tax. In principle, the new rule would be applicable as from assessment year 2016 (i.e. income collected during calendar year 2015). The Cayman Tax is a tax on certain income that is derived, through legal constructions,
OECD publishes Discussion Draft on cost contribution arrangements
On 29 April 2015, the OECD issued a Discussion Draft on the transfer pricing aspects of cost contribution arrangements (‘CCAs’) under Action 8 of the BEPS action plan. The Draft proposes fundamental modifications to Chapter VIII of the OECD Transfer Pricing Guidelines: With respect to measuring the value of contributions to CCAs and the tax