OECD releases public discussion draft on the multilateral instrument to implement the tax treaty related BEPS measures and asks the public for input
On 31 May 2016, the OECD released its public discussion draft on Action 15 (Development of a Multilateral Instrument to Implement the Tax Treaty related BEPS Measures) of the BEPS Action Plan. Action 15 of the OECD’s BEPS Action Plan called for the development of a multilateral instrument in order to allow countries to swiftly amend their
Preparing your business for imminent new reporting obligations
Belgian entities of foreign- or Belgian-headquartered multinational groups with annual revenues exceeding 50 million euros need to assess whether they will be subject to the transfer pricing documentation obligations that will be introduced soon. Given the increased scrutiny, it’s also imperative to check the consistency of transfer pricing arrangements with actual conduct. Three layers of
European Commission proposes an EU Directive on public Country-by-Country reporting
As already referred to in our newsflash of 13 April 2016, the European Commission has developed a proposal for a directive which, if approved by the European Parliament and Council of Ministers, will require public country-by-country reporting (CbCR) of tax and other financial data by large companies in the European Union (EU). The proposed directive will amend the existing
European Commission proposes public Country-by-Country Reporting (CbCR) rules for EU multinational enterprises
On 12 April 2016, the European Commission (EC) introduced a legislative proposal on public reporting requirements for certain EU enterprises, being multinational groups with a consolidated turnover exceeding EUR 750 million. The proposal is founded on the EC’s determination to address corporate tax avoidance in Europe, of which the cost for the EU Member States
Belgian Minister of Finance sheds light on implementation of BEPS related measures
The Belgian Minister of Finance has just shared new insights on how Belgium will be addressing the outcome of the OECD/G20 project in relation to Base Erosion and Profit Shifting (“BEPS”). He opted to do so via the “Plan to combat tax fraud”. The title of his policy note is misleading since the document covers,
Aligning transfer pricing outcomes with value creation – Revised chapters I, II, VI and VII of the OECD Transfer Pricing Guidelines
On 5 October 2015, the OECD presented its final package of Base Erosion and Profit Shifting (BEPS) measures for a comprehensive, coherent, and co-ordinated reform of the international tax rules. The package was endorsed by the G20 Finance Ministers at their meeting on 8 October 2015, in Lima, Peru. This final package (referred to below
OECD recommendations on BEPS proposals for G20 and wider take-up
On 5 October 2015, multinational enterprises (“MNEs”) received final recommendations from the OECD’s base erosion and profit shifting (“BEPS”) project. This week, the G20 Finance Ministers are likely to agree on these OECD recommended changes to the international tax rules and to implementation plans. A number of non-G20 countries have also been involved in work
