OECD released report on Neutralising the Effects of Branch Mismatch Arrangements (BEPS Action 2)
On 27 July 2017, the OECD released the report on Neutralising the Effects of Branch Mismatch Arrangements (BEPS Action 2). This report sets out recommendations for branch mismatch rules that would bring the treatment of these structures into line with the treatment of hybrid mismatch arrangements as set out in the 2015 Report on Neutralising the Effects
UK introduces new corporation tax limitation on interest deductibility
The draft UK Finance Bill 2017 was published in early December 2016. The Bill contains detailed draft legislation to introduce a new limitation on the deductibility of interest expense from corporate profits. These rules, which were further amended on January 26, 2017, will apply to amounts accruing after April 1, 2017. The rules limit a
Switzerland rejects Corporate Tax Reform III in public vote
With a majority of 59.1%, Swiss voters rejected the Corporate Tax Reform III (CTR III) in a public vote on February 12, 2017. CTR III, the result of a long and complex political process, would have abolished current existing tax regimes, such as the rules for holding or mixed companies. At the same time, the
Update on list of non-compliant countries – circular letter published
On 26 January 2017, a circular letter has been published with respect to the updated list of non-compliant countries in light of the international standards regarding transparency and exchange of information. More in particular, five new jurisdictions (Guatemala, Marshall Islands, (the Federal States of) Micronesia, Panama and Trinidad & Tobago) have been added to the
Luxembourg proposes new tax measures
The Luxembourg Government introduced a bill on 26 July 2016, with proposed tax measures for corporations for the 2017 tax year. The proposed changes are in line with the announcements made by the Government earlier this year. Although the bill has not been finalised, multinational enterprises operating in Luxembourg should start considering how the proposed measures,
