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On September 6, 2016 the New Zealand Government released a discussion document on addressing hybrid mismatch arrangements. Via the document New Zealand Government seeks comments on how the OECD recommendations could be implemented in New Zealand. The Document is divided in 2 parts. Part I describes the problem of hybrid mismatch arrangements, the case for responding to the problem, and a summary of the OECD recommendations. Part II subsequently explains the OECD recommendations in greater depth and discusses how they could be incorporated into New Zealand law.
Submissions should be made by October 17, 2016. Submissions can be sent either by e-mail or by normal mail.
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On September 5, 2016 the European Commission published the ‘G20 Leaders’ Communique Hangzhou Summit’ on its website. As could be expected the Communique also contains remarks regarding international taxation, BEPS and financial transparency. These comments can a.o. be found in the paragraphs 19 and 20 under the section ‘More Effective and Efficient Global Economic and Financial Governance’.
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On September 5, 2016 the OECD published the OECD Secretary-General’s Report to the G20 Leaders. The report consists of two parts. Part I is a Report by the OECD Secretary-General regarding (A) The G20/OECD Base Erosion and Profit Shifting (BEPS) Project; (B) Tax transparency; (C) Tax policy tools to support sustainable and inclusive growth; and (D) Tax and development. Part II is a Progress Report to the G20 by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Read more: The OECD Secretary-General Report to G20 Leaders (Hangzhou, China – September 2016)
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Based on the information as provided by the U.S. Department of the Treasury on its webpage dedicated to FATCA, the Agreement between the Government of the United States of America and the Government of the Republic of San Marino for Cooperation to Facilitate the Implementation of FATCA as signed on October 28, 2015 (Hereafter: the IGA) entered into force on August 30, 2016. Although the IGA only entered into force on August 30, 2016, according to the U.S. Department of the Treasury Hong Kong will be treated as having the IGA in effect as per June 30, 2014.
Read more: The FATCA Agreement between the United States and San Marino entered into force
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The Irish Department of Finance has just published a statement by the Irish Minister for Finance on the Irish Government Decision to appeal the Apple State aid decision. The statement as published on the website of the Irish Department of Finance reads as follows:
Read more: Ireland to appeal against the European Commission’s decision in the Apple case
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