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On November 4, 2016 the European Commission published the results of the public consultation on reduced VAT rates for electronically supplied publications which it launched on July 27, 2016 and for which the period to submit responses ended on September 19, 2016.
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On November 4, 2016 the he Global Forum on Transparency and Exchange of Information for Tax Purposes published 17 new Peer Review Reports. It also seems to have launched a new very interesting website.
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On November 3, 2016 the OECD issued a press release announcing that on October 31, 2016 Panama became the 87th member of the Inclusive Framework on BEPS.
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On November 3, 2016 the Swiss Federal Department of Finance (FDF) issued a press release announcing that on November 2, 2016 Switzerland and Latvia signed a protocol amending their existing DTA.
Although the 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.
The Protocol a.o.:
Read more: Switzerland and Latvia sign a protocol amending their existing DTA
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On November 3, 2016 the Inland Revenue Authority of Singapore (IRAS) updated the content of its section on Transfer Pricing. According to the updated content, from Year of Assessment (YA) 2018, Singaporean taxpayers must report certain details of related party transactions (RPT) if the value of RPT in the audited accounts for the financial year exceeds $15,000,000. It is furthermore stated that the Form for Reporting RPTs should be submitted together with the submission of Form C.
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