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On June 23, 2017 the South African Revenue Service (SARS) announced that both the Agreement between the Government of the Republic of South Africa and the Government of the Principality of Monaco for the Exchange of Information Relating to Tax Matters and the Agreement between the Government of the Republic of South Africa and the Government of the Republic of Costa Rica for the Exchange of Information Relating to Tax Matters entered into force on June 23, 2017.

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On June 22, 2017 the Swiss Federal Tax Administration (FTA) issued a press release to announce that the 2017 version of the brochure “The Swiss Tax System” had been released by the Information Committee of the Swiss Tax Conference. The brochure explains the functioning of the Swiss tax system and also mentions the most recent changes on the federal and cantonal levels.

This is the first time the brochure is published in the English version. According to the FTA, the English version particularly addresses taxpayers of foreign nationalities that are unfamiliar with the Swiss tax system. In addition to an overview of the taxes levied by the Confederation, the cantons and communes, it also goes into detail concerning cantonal specialties.

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On June the 22, 2017 the Belgian Ministry of Finance issued a press release announcing that the Belgian council of ministers approved proposals for draft bills containing anti money laundering measures.

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On June 22, 2017 the UK HM Revenue & Customs issued a press release announcing that on June 13, 2017 the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Kyrgyz Republic signed an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital Gains (Hereafter: the DTA).

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

 

Below we will discuss a selection of provisions included in the DTA of which we think they might interest our readers.

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Yesterday we already reported that the Singaporean Ministry of Finance announced that Singapore had signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA).

According to the overview of Signatories of the CbC MCAA as available on the website of the OECD we understand that as per June 22, 2017 the total number of signatories of the CbC MCAA went up to 64.

  1. The Platform for Collaboration on Tax released a toolkit for addressing difficulties in accessing comparables data for transfer pricing analyses
  2. The OECD releases a discussion draft on revised guidance on profit splits (BEPS Actions 8 – 10)
  3. The OECD releases a discussion draft on additional guidance on attribution of profits to permanent establishments (BEPS Action 7)
  4. CJEU judges in Case C-20/16, Bechtel (Freedom of movement for persons)
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