Details

Details

On August 22, 2016 the OECD released a Public Discussion Draft titled: “BEPS Action 2 - BRANCH MISMATCH STRUCTURES”. Interested parties had until September 19, 2016 to submit their comments. On September 23, 2016 the OECD published the comments it received on the discussion draft.

The OECD published the comments it received from 17 organizations/persons in a 107 page document.

Details

On September 23, 2016 the Swiss Federal Council issued a press release announcing that on that same date it has initiated the consultation procedure on an amendment to the Withholding Tax Ordinance. According to the Swiss Federal Council the aim of the proposed amendments is to strengthen financing activities of groups in Switzerland. The consultation period runs until December 23, 2016.

Details

In a first reaction to the Panama Papers the German Minister of Finance came with a 10 point Action Plan in April 2016 (For more information see our article from April 12, 2016). On September 22, 2016 the German Ministry of Finance published proposals aimed at combating tax havens and letterbox firms.

Details

The OECD has made a replay of its Tax Talks Webcast of September 22, 2016 available. During the Webcast the OECD's Centre for Tax Policy and Administration (CTPA) gave an update on a.o. below mentioned topics:

·   The International Tax Agenda;

·   A Multilateral Instrument;

·   The G20 Tax Policy Agenda;

·   Tax Policy Reforms in the OECD; and

·   What’s next?

Details

As a reaction to the Panama Papers the European Parliament established a committee of inquiry to investigate alleged contraventions and maladministration in the application of Union law in relation to money laundering, tax avoidance and tax evasion. This money laundering, tax avoidance and tax evasion Committee or shortly PANA Committee is going to have its first real meeting on September 27, 2016.

Details

On September 22, 2016 on the website of the Court of Justice of the European Union (CJEU) the opinion of Advocate General Bot in Case C‑471/15 Sjelle Autogenbrug I/S versus Skatteministeriet (ECLI:EU:C:2016:724) was published.

In the circumstances of the present case, can parts from end-of-life vehicles which a VAT-registered vehicle reuse undertaking removes from a vehicle with a view to resale as spare parts be regarded as “second-hand goods” as referred to in Article 311(1)(1) of Directive 2006/112?

Details

On September 20, 2016 the UK HM Treasury published an updated list of countries that committed to sharing beneficial ownership information.

In comparison to the previous list that was published on September 2, 2016, Norway has been added to the list as compiled by the UK HM Treasury. Therewith the number of countries that support the initiative for the automatic exchange of information on beneficial ownership has come to 47.

Details

On September 20, 2016 during the meeting of the General Affairs Council the EU has approved the new taxation agreement with Andorra. The agreement upgrades the 2004 agreement that obliged Andorra to apply measures equivalent to those in an EU directive on the taxation of savings income. It will extend the automatic exchange of information on financial accounts in order to prevent taxpayers from hiding capital representing income or assets for which tax has not been paid.

Details

On September 19, 2016 the New Zealand Inland Revenue published two GST guides. The first guide is a guide titled “GST guide - Working with GST” (IR375). The second guide is a guide titled “GST plus - Working out specific GST issues” (IR546).

Details

The Government of the Isle of Man has announced that the Agreement Between the Government of the Isle of Man and the Government of the British Virgin Islands for the Exchange of information Relating to Tax Matters (Hereafter: the TIEA) will enter into force on October 9, 2016.

Details

The Government of the Isle of Man has announced that on August 13, 2016 the Agreement Between the Government of the Isle of Man and the Government of the Cayman Islands for the Exchange of information Relating to Tax Matters (Hereafter: the TIEA) entered into force. The Protocol amending the TIEA entered into force on August 26, 2016.

Details

The Government of the Isle of Man has announced that on September 8, 2016 the Agreement Between the Government of the Isle of Man and the Government of Romania for the Exchange of information Relating to Tax Matters (Hereafter: the TIEA) entered into force.

Details

On September 19, 2016 the European Commission issued a press release announcing that it has opened an in-depth investigation into Poland's tax on the retail sector. According to the press release the European Commission has concerns that the progressive rates based on turnover give companies with a low turnover a selective advantage over their competitors in breach of EU state aid rules.

Details

On September 19, 2016 the European Commission issued a press release announcing that it has opened an in-depth investigation into Luxembourg's tax treatment of GDF Suez (now Engie). According to the announcement the European Commission has concerns that several tax rulings issued by Luxembourg may have given GDF Suez an unfair advantage over other companies, in breach of EU state aid rules.

Details

On September 16, 2016 the Government of Liechtenstein issued a press release announcing that on September 15, 2016 Liechtenstein and Austria signed a Protocol amending their existing Double Taxation Agreement (Hereafter: the DTA).

Although the new Protocol has been signed, it has not entered into force yet. For the Protocol to enter into force, the respective ratification procedures have to have been finalized in both countries.

Details

On September 15, 2016 the Court of Justice of the European Union (CJEU) judged in Case C-400/15 Landkreis Potsdam-Mittelmark versus Finanzamt Brandenburg (ECLI:EU:C:2016:687).

This request for a preliminary ruling concerns the interpretation of Article 1 of Council Decision 2004/817/EC of 19 November 2004 authorising Germany to apply a measure derogating from Article 17 of Sixth Council Directive 77/388/EEC on the harmonisation of the laws of the Member States relating to turnover taxes (OJ 2004 L 357, p. 33; ‘the Authorising Decision’).

 

The request has been made in proceedings between the Landkreis Potsdam-Mittelmark (administrative district of Potsdam-Mittelmark, Germany) (‘the Landkreis’) and the Finanzamt Brandenburg (Tax Office, Brandenburg, Germany) (‘the Brandenburg Tax Office’) concerning the valued added tax (VAT) owed by the Landkreis for the 2008 tax year.

Details

The OECD has announced that the next OECD Tax Talks webcast will take place on September 22, 2016.  According to the announcement the webcast will take place from 15.00 – 16.00 CET. It should be noted that one should be registered for being able to view the webcast live.

Details

The German Bundesministerium der Finanzen (German Ministry of Finance) has issued a press release announcing that on August 29, 2016 the Federal Republic of Germany and Turkmenistan signed an Agreement for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital (Hereafter: the new DTA).

Although the new DTA has been signed, it has not entered into force yet. For the new DTA to enter into force, the respective ratification procedures have to have been finalized in both countries.

 

When entering into force the new DTA will replace the existing Agreement between the Federal Republic of Germany and the Union of Soviet Socialist Republics for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital, which was signed on November 24, 1981.

  1. International Tax Plaza’s Quick News from September 16, 2016
Submit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TwitterSubmit to LinkedIn
INTERESTING ARTICLES