FATCA, OECD

(Texas A&M University Law)/ /3 Comments

This month I will discuss the important topic for the anti-money laundering compliance officer, wherein the AML systems overlap with the requirement for tax compliance, and that tax compliance requirement requires tax self certification from each customer of a financial institution. I will provide insight about five topics: The Panama Papers FATCA and its related…

EC Tax Review, Uncategorized

(General Editor EC Tax Review and tax adviser at Ernst & Young Belastingadviseurs LLP)/ /Leave a comment

Volume 25 (2016) issue 2 contains: EDITORIAL: MICHAL AUJEAN, ‘Some Twenty-Seven Years after…’ Abstract: When I started writing this editorial a question quickly came to my mind: what have I been doing all these years that I devoted to taxation and more specifically to European tax policy? Then I thought it was time to say…

OECD, Tax Avoidance, Tax Fraud, Tax Policy

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Massive leaks of information on offshore activity like the Panama Papers illustrate the need for an enhanced global tax cooperation with an improved and deeper interjurisdictional information sharing scheme. In fact, efforts towards reaching a global tax cooperation on obtaining and sharing interjurisdictional information is a longstanding endeavor of the international community, whose origins may…

BEPS, OECD, Tax Planning, Tax Treaties

(Temple Tax Chambers; King’s College London)/ /Leave a comment

George Orwell’s parable, Animal Farm, offers insights on political and governmental institutions that bear revisiting from time to time. BEPS Action 6 with the broad title “Prevent treaty abuse” has among its objectives “developing model treaty provisions to prevent the granting of treaty benefits in inappropriate circumstances” and “to clarify that tax treaties are not…

OECD, Tax Avoidance, Tax Fraud

(Amsterdam Centre for Tax Law (ACTL) of the University of Amsterdam; Chiomenti)/ /1 Comment

The dust has not settled yet and there is probably much more to come from this and future leaks. Investigations have started, international cooperation will be key and hopefully those that have not respected the law will be punished. Here below a couple of reflections based on what I read/seen/heard these days between one toy…

BEPS, Transfer Pricing

(Texas A&M University Law)/ /Leave a comment

Treasury recently released its 2015 Transfer Pricing Advance Pricing Agreements Report to Congress, the seventeenth report since the initial 1999 report.  Each year, the Treasury APA Report describes the annual experience, structure, and activities of the APMA Program.  Treasury also formally released the much discussed new audit/examination protocols that will become effective 1 May 2016. …

BEPS, Customs and Excise, EU/EEA, OECD, Tax Avoidance, Tax Planning, Tax Policy, Tax Treaties, Withholding Taxes

(Bomchil)/ /1 Comment

A critical appraisal of the EU Switch Over Rule and the Indian Equalization Levy At present, it is unavoidable to recognize that the international tax scenario is in transition to a much more inter-nation equitable system, where the national tax base will be better protected against erosion and profit-shifting corporate manipulations than it was in…

BEPS, MAPs and APAs, OECD, Tax Planning, Tax Treaties, Transfer Pricing, United Nations

(Temple Tax Chambers; King’s College London)/ /Leave a comment

The OECD BEPS project was kicked off by the observation that the interaction of domestic tax systems sometimes leads to an overlap, resulting in double taxation as well as gaps, which result in an item of income not being taxed anywhere, thus resulting in so called “double non-taxation”. Co-operation among countries historically addressed double taxation…

BEPS, OECD, Tax Avoidance

(Amsterdam Centre for Tax Law (ACTL) of the University of Amsterdam; Chiomenti)/ /Leave a comment

That day in November 2012 It was 5 November 2012 when G20 Finance Ministers asked for a report on the root-causes of Base Erosion and Profit Shifting, by their next meeting in February 2013. Meanwhile, the mainstream press and Parliaments around the world had started to focus on the way MNEs manage their tax affairs….

Intertax

(General Editor Intertax and Of Counsel at Baker McKenzie)/ /Leave a comment

Volume 44 (2016) Issue 3 contains: ARTICLES José Manuel Calderón CARRERO, Alberto Quintas SEARA, ‘The Concept of ‘Aggressive Tax Planning’ Launched by the OECD and the EU Commission in the BEPS Era: Redefining the Border between Legitimate and Illegitimate Tax Planning’ Abstract: In recent years, the need to prevent and combat aggressive tax planning has…

Intertax

(General Editor Intertax and Of Counsel at Baker McKenzie)/ /Leave a comment

Volume 44 (2016) Issue 2 contains: EDITORIAL Dennis WEBER, ‘The New Common Minimum Anti-Abuse Rule in the EU Parent-Subsidiary Directive: Background, Impact, Applicability, Purpose and Effect’ Abstract: Due to an amendment of the Parent-Subsidiary Directive, the EU Member States must include a ‘common minimum anti-abuse rule’ in their legislation for situations that fall under the…

BEPS, Tax Planning

(Texas A&M University Law)/ /1 Comment

What do these two things have in common?  Dr. Andrew P. Morriss, Dean & Anthony G. Buzbee Dean’s Endowed Chair, Texas A&M School of Law explains In 1998, seven US heavy-duty diesel engine (HDDE) manufacturers agreed to pay USD83m to settle a suit by the US Environmental Protection Agency (EPA) contending that the HDDE manufacturers had used clever…