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On April 12, 2017 the OECD released its International VAT/GST Guidelines. According to the OECD these International VAT/GST Guidelines (“the Guidelines”) set forth internationally agreed principles and standards for the value added tax (VAT) treatment of the most common types of international transactions, with a particular focus on trade in services and intangibles. The aim of the Guidelines is to minimize inconsistencies in the application of VAT in a cross-border context with a view to reducing uncertainty and risks of double taxation and unintended non-taxation in international trade. The Guidelines also include the recommended principles and mechanisms to address the challenges for the collection of VAT on crossborder sales of digital products that had been identified in the context of the OECD/G20 Project on Base and Erosion and Profit Shifting (the BEPS Project).

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On April 14, 2017 the Dutch State Secretary for Finance sent information on the Dutch ruling practice to the Dutch House of Representatives. In the letter the State Secretary for Finance furthermore addresses questions that were raised by Members of the House of Representatives in this respect.

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On April 12, 2017 the Australian Taxation Office (ATO) released additional guidance to help taxpayers understand the information requirements of the local file and master file that form part of its Country-by Country (CbC) reporting obligation.

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On April 12, 2017 the Cypriot Government issued a notification of the Republic’s intention to sign the ‘Multilateral Convention to Implement Tax Treaty related measures to Prevent Base Erosion and Profit Shifting’ (Multilateral Instrument).

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On April 13, 2017 the OECD issued a press release announcing that Belize and the Cayman Islands joined the Inclusive Framework on BEPS. Therewith 96 jurisdictions have joined the Inclusive Framework on BEPS.

  1. The United Nations released the second edition of its Practical Manual on Transfer Pricing for Developing Countries
  2. The Dutch and Spanish competent authorities have signed a new Memorandum of Understanding regarding assistance in tax matters
  3. The OECD released an update of its CRS-related FAQs
  4. Singapore and Guernsey conclude a Competent Authority Agreement on the Automatic Exchange of Financial Account Information
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