Master file notification: Expectations, impact and risk areas for MNCs

The Organisation for Economic Co-operation and Development (OECD) commenced work on the Base Erosion and Profit Shifting (BEPS) project to address concerns that existing principles of domestic and international taxation were failing to keep pace with the global nature of modern business models. As a member of the G20 and an active participant in the … More Master file notification: Expectations, impact and risk areas for MNCs

Developments in International Tax: An update and its impact

OECD proposes changes to be incorporated in the 2017 update to the OECD Model Tax Treaty  The Organisation for Economic Co-operation and Development (OECD) on 11 July 2017 released the draft contents of the update to the OECD Model Tax Convention (the 2017 update). Among a number of other proposals, the 2017 update contains changes … More Developments in International Tax: An update and its impact

Common Reporting Standards: an OECD step toward tax transparency

With increasing globalization, many tax payers started making, holding and managing investments through offshore financial institutions outside their country of residence. Such offshore money goes untaxed and such offshore tax evasion was considered a serious problem for jurisdictions all over the world. In this backdrop, cooperation between tax administrations is considered critical in the fight … More Common Reporting Standards: an OECD step toward tax transparency

Impact of BEPS on transfer pricing documentation (Action 15)

OECD issued the Final Reports on the 15 Action points announced under Base Erosion and Profit Shifting (BEPS) Projectproviding governments with much needed ammunition to close the gaps in the existing international rules that allow corporate profits to “disappear” or be artificially shifted to low/no tax environments, where little or no economic activity takes place … More Impact of BEPS on transfer pricing documentation (Action 15)

Tax transparency: New reporting requirements

The tax world is changing at a rapid pace. Tax planning is being closely scrutinized and monitored, and tax evasion is not tolerated. The use of offshore jurisdictions to minimize tax liability is being frowned upon and the regular exchange of information between jurisdictions is becoming the “new normal.” The US, in 2010, enacted The … More Tax transparency: New reporting requirements