OECD Issues Handbooks on CbC Reporting

New handbooks on country-by-country (CbC) reporting were issued by the Organisation for Economic Co-operation and Development (OECD). Specifically, the handbooks deal with effective implementation and effective tax risk assessment. In general, 2018 will be the first year that tax authorities will receive more detailed transfer pricing information on large multinational enterprises (MNEs), with data on the…

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OECD Issues International VAT/GST Guidelines

The Organisation for Economic Co-operation and Development (OECD) released guidelines on applying Value Added Tax (VAT) and Goods and Services Tax (GST) to international trade transactions. Officially called the Recommendation of the Council on the Application of Value Added Tax/Goods and Services Tax to the International Trade in Services and Intangibles, the guidelines are aimed…

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International Tax Reform Moves a Step Closer

International tax reform moved ahead as the Organisation for Economic Cooperation and Development (OECD) published its so-called multilateral instrument (MLI), along with an explanation of how it will work. The MLI, a cornerstone of the OECD’s base erosion and profit shifting (BEPS) project, is formally known as the Multilateral Convention to Implement Tax Treaty Related…

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