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In today’s edition: IMF – Denmark: Technical Assistance Report-Revenue Administration Gap Analysis Program-The Value-Added Tax Gap; United Kingdom – Draft Legislation: modernising the taxation of corporate debt and derivative contracts amending Regulations - informal consultation (Business tax – policy paper) (Updated content); OXFAM – OECD plans to open up tax reform to developing countries welcome but more is needed
Read more: International Tax Plaza’s Quick News from February 23, 2016
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On February 23, 2016 the OECD announced that it agreed a new framework that will allow all interested countries and jurisdictions to join in efforts to update international tax rules for the 21st Century.
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For its next meeting, which is planned for February 29, 2016 from 15.30 – 18.30 CET, TAXE 2 has invited the ‘Dutch Minister responsible for taxation’ in its capacity as President of the Council of the European Union. On February 12, 2016 the Dutch State Secretary for Finances accepted the invitation. (NB In the Netherlands the State Secretary for Finances is the member of the cabinet that is responsible for taxes).
Read more: Council Presidency (the Netherlands) to exchange views with TAXE 2
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On February 22, 2016 the HM Revenue & Customs published the 2016 version of its tax guide “Expenses and benefits”. The aim of the guide is to explain the tax law relating to expenses payments and benefits received by directors and/or employees.
Read more: HMRC publishes the 2016 version of its tax guide “Expenses and benefits”
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On February 22, 2016 the European Commission issued a press release announcing that on that same date the EU and Monaco initialled a new tax transparency agreement. According to the press release the agreement is similar to the ones that the EU concluded with Switzerland, San Marino, Liechtenstein and Andorra.
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