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On February 26, 2024 the OECD and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) released the public comments they received on a draft toolkit to support developing countries in addressing BEPS risks when pricing minerals (lithium).
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On February 22, 2024 the economic and monetary affairs committee of the European Parliament adopted its opinion on the proposed directive regulating transfer pricing (as released by the European Commission on September 12, 2023).
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On February 20, 2024 the EU Member States decided to remove four jurisdictions – the Bahamas, Belize, Seychelles, and Turks and Caicos Islands – from the EU list of non-cooperative jurisdictions for tax purposes (Annex I).
Read more: The EU updated its list of non-cooperative tax jurisdictions
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On February 19, 2024 the Inclusive Framework on BEPS released an Amount B report which provides a simplified and streamlined approach to the application of the arm's length principle to baseline marketing and distribution activities, with a particular focus on the needs of low-capacity countries.
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On February 19, 2024 the Japanese Ministry of finance issued a press release announcing that on that same date the Government of Japan and the Government of Ukraine signed the “Convention between the Government of Japan and the Government of Ukraine for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance".
Read more: Ukraine and Japan have signed a new tax convention