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On June 7, 2017 the OECD announced that Pakistan signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA). The total number of signatories of the MCAA therewith comes to 90. According to the overview of Signatories of the MCAA, Pakistan intends its first exchange of information to take place in September 2018.

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Do you remember your childhood, when you loved to be the first one to solve jigsaws and riddles? Well the latest jigsaw is not produced by Jumbo or Hasbro, but by the OECD and it came onto the market under the name Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS. The first version of this giant jigsaw came on the market on June 7, 2017 and we bet that YOU as THE TAX EXPERT TO GO TO want to be the first one to solve it.

On June 7, 2017 68 countries/jurisdictions have signed the OECD’s Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (Hereafter: the MLI). According to the OECD another 8 countries have expressed their intention to do so.

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Council Directive (EU) 2017/952 of 29 May 2017 amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries (ATAD 2) has been published in the Official Journal of the European Union of June 7, 2017.

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On June 7, 2017 the Inland Revenue Authority of Singapore announced that the Competent Authority Agreements for the Common Reporting Standard as concluded with the following jurisdictions entered into force on June 5, 2017:

·   Denmark;

·   Estonia;

·   Lithuania; and

·   New Zealand.

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On June 7, 2017 Ministers and high-level officials from more than 60 countries and jurisdictions will sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (the MLI). The signing ceremony will start at 18.00 CET. The OECD has announced that a live webstream of the signing ceremony will be made available.

  1. The Supreme Court of the United Kingdom filed a request for a preliminary ruling regarding the deduction of input VAT (Article 173(2)(c) of Council Directive 2006/112/EC)
  2. The competent authorities of South Africa and the U.S. have concluded an arrangement on the exchange of Country-by-Country Reports
  3. Switzerland – Revisions to the Value Added Tax Act to enter into force on January 1, 2018
  4. The Bahamas decides to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters
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