The EU’s second-highest court overturned a 2016 ruling ordering Apple to pay Irish tax authorities 13 billion euros for receiving undue tax benefits. Multinationals should beware of taking the ruling as a sign the world of international taxation is reverting to an earlier era.
Many countries have introduced digital services taxes that apply to only very large multinational groups, while other countries’ digital taxes apply to a much wider range of businesses. India’s equalisation levy has an extremely low revenue threshold and for the time being is likely to affect more multinational businesses than any other digital services tax.
The U.S. Trade Representative’s office is launching investigations into a number of countries’ digital services taxes, which may be “unfair or discriminatory and negatively affect U.S. Commerce.”
Pillar One is a group of proposals addressing how to tax companies that generate profits where they don’t have a taxable presence under existing principles. This post examines the state of this initiative, which involves 137 countries and has massive implications for multinational groups.
The OECD recently issued information on its Pillar Two, which is part of a larger plan to prevent multinationals from shifting profits to reduce or eliminate taxes. We provide a summary of the new OECD document and explain why it’s key to understanding the changing world of corporate taxation.
This month, the OECD proposed rules to ensure multinational companies pay tax in countries where they have significant consumer activities and generate profits. The rules could effect a radical shift in how businesses are taxed.
Australia has enjoyed nearly 28 years of solid economic growth. But recent threats, including trouble in China and global currency devaluation, could turn Australia’s good fortunes around.
Starting in April, the UK government will tax income derived from intellectual property held by non-UK companies in low-tax jurisdictions. We explain the new rule, who has to follow it and how it reflects a global trend.
The Trump administration imposed a third round of tariffs on Chinese goods, covering roughly $200 billion of imports from China. China retaliated with $60 billion of tariffs. We tell you if this is likely to be a prolonged battle and what US companies need to consider now.
The OECD has developed the Common Reporting Standard, or CRS, and over a 100 countries and counting are committed to implementing it. The compliance burden falls most heavily on financial institutions, but account holders have their own obligations and must fulfill them to avoid significant penalties.
This month, the OECD released a report on taxation and the digital economy. We put the report in context and summarize its high points so you know what leading authorities are saying about the subject now.
Spurred by the OECD’s BEPS initiative, over 100 countries around the world are implementing new transfer pricing requirements. Some organizations assume these requirements only apply to multinationals with group revenue of 750 million euros or more. The reality is that many new countries have much lower thresholds. We explain what multinationals need to know now to comply.