The Multilateral Convention to Implement Tax treaty Related measures to prevent BEPS (the Multilateral BEPS Convention or MLI)1)http://www.oecd.org/tax/treaties/multilateral-convention-to-implement-tax-treaty-related-measures-to-prevent-BEPS.pdf); Explanatory Statement: http://www.oecd.org/tax/treaties/explanatory-statement-multilateral-convention-to-implement-tax-treaty-related-measures-to-prevent-BEPS.pdf rounded up the implementation of the treaty-based final BEPS outcomes in one single document. MLI is aimed at providing a framework that could allow amending existing bilateral treaties at once, bringing them in line…

An analysis from a State Aid perspective. This contribution focuses on the profit split methodology in light of current EU Commission’s investigations in the area of tax rulings and transfer pricing[1]. Prior to my points, I shall make some brief preliminary comments to set the scene. According to the EU Commission a tax ruling confers…

On 23 May the OECD published a Public Discussion Draft on Implementation Guidance on Hard-to-Value intangibles (HTVIs).  Comments are due by 30 June 2017, so hurry. 1.    Introduction All guidance by the CFA and the opportunity to comment is appreciated, especially on a major topic like intangibles.  That being said, I think that this paper…

FATCA: GIINs and LEIs Musings of Professor William Byrnes with the tremendous brain power of Haydon Perryman Firstly, a loud shout out to Haydon Perryman who crunches the IRS GIIN list into workable data.  His research is at the forefront of FATCA and CRS intelligence and the only available for analysis of FATCA.  Now unto some numbers. As…

There is no doubt that 7 June 2017 is a day that will be a milestone in the history of international tax law. Signature of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”) at a high-profile ceremony at the OECD in Paris by 68 ministers and…

A world of tax without disputes is an illusion. It is just as much an illusion as a world without tax. Tax and disputes come together inseparably. Disputes is not something to be ashamed of – I say this in particular to authorities. Nor – and it this meant more for taxpayers –  to be…

As widely reported by the news media, a major corporate tax reform has been under discussion in the United States, which may cause spillover effects on taxpayers engaged in cross-border transactions. One of the proposals on the table is the Paul Ryan’s blueprint “A Better Way — Our Vision for a Confident America”, released by…

As a member of the Organization for Economic Co-operation and Development (“OECD”) Mexico[1] has been actively involved in the design and development of the Base Erosion and Profit Shifting (BEPS) Project and began implementing many of the recommended actions in 2014, even before the final BEPS reports were finalized in 2015. The execution and implementation…

Consider this. Formula One World Championship Limited UK (Formula One) entered into a Race Promotion Contract (RPC) with Jaypee Sports International Limited (Jaypee), an Indian entity, under which Jaypee was granted the right to host, stage, and promote a motor racing event in India. Buddh International Racing Circuit located in the Indian state of Uttar…

On 24 April 2017 the Indian Supreme Court held that Formula One World Championship Ltd, the holder of the commercial rights to the Formula One Grand Prix, had a permanent establishment in India at the Buddh International Circuit where the event was held in 2011, 2012 and 2013. The Supreme Court concluded that the UK…

In March 2017, the OECD and the IMF published a report on tax uncertainty (Report) confirming that such uncertainty exists and impacts on business and investment. Similar was the outcome of an earlier survey one year ago by the Oxford University Centre for Business Taxation: Measuring Corporation Tax Uncertainty Across Countries. The issue is of…

Foreign enterprises for the purpose of Indian Income Tax (IT) Act are enterprises that are incorporated outside India or that do not have their place of effective management in India (as per new section 6 of IT Act, effective from April 2017). Section 5(2) read with section 4 of the IT Act provides that the…

I was recently asked to analyze the often quoted figure of $150 billion lost by the U.S. Treasury to foreign non-tax compliance by U.S. taxpayers.  My transcribed remarks are below.  Also, see William Byrnes’ Guide to FATCA & CRS Compliance (Matthew Bender 5th ed., 2017) at pp. 30, 33-34, 50, 59, 109-112, and 119-122. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2926119 How…