European Commission publishes decision to investigate the Belgian excess profit provision
The non-confidential version of the European Commission’s opening decision announcing the formal investigation into the Belgian Excess Profit provision embodied in section 185 §2, b) of the Income Tax Code was published in the EU’s Official Journal on 5 June 2015. Beneficiaries of excess profit rulings are requested to submit their comments at the latest one
Revised OECD Discussion Draft on Treaty Abuse published
On Friday, 22 May 2015, the OECD issued a Revised Discussion Draft on BEPS Action 6: Prevention of Treaty Abuse (the RDD). The RDD includes a simplified Limitation on Benefits (LOB) Article for inclusion in the OECD Model Income Tax Convention and provides ‘conclusions and proposals’ on 20 targeted issues. Most of the proposals are
Revised OECD Discussion Draft on permanent establishments – PwC Newsflash published
As mentioned in the news alert published on 18 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 of the BEPS Action Plan. The earlier OECD proposals, which set out alternative approaches to a number of significant PE issues, have been replaced by
Revised OECD Discussion Draft on permanent establishments published
On 15 May 2015, the OECD issued a revised discussion draft on preventing the artificial avoidance of permanent establishment (‘PE’) status under Action 7 of the BEPS action plan. The proposals in this revised discussion draft (which the OECD calls the ‘new discussion draft’ or ‘second discussion draft’) were all included among the options that appeared
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
Revised OECD BEPS timetable
The OECD has published a revised OECD timetable for stakeholders’ input, with the dates when new discussion drafts will be published and public consultations will be held in relation to the 2015 Base Erosion and Profit Shifting (BEPS) outputs. The revised OECD timetable can be consulted here. During March and April 2015, the OECD released
EC presents proposal for mandatory automatic exchange of information on cross-border tax rulings within the EU
In a press release of 18 March 2015, the European Commission (“EC”) announced its Tax Transparency Package, including a proposal to broaden the scope of the EU Council Directive (2011/16/EU) on Administrative Cooperation in the field of taxation (known as the “DAC”). Mandatory exchange of information The EC has released its proposed modification to the
Belgium-Luxembourg cross-border workers
Belgium-Luxembourg cross-border workers: mutual agreement signed and information regarding evidence to support presence in Luxembourg published Following the announcement made early February, the Belgian and Luxembourg finance ministers concluded on 16 March 2015 a mutual agreement with respect to cross-border employment tax situations that confirms, retroactively as from 1 January 2015, the introduction of a derogation to
