Transfer Pricing Links 10/05/2014
Public consultation on transfer pricing documentation and country-by-country reporting OECD
“09/05/2014 – The OECD will hold a public consultation on the discussion draft on transfer pricing documentation and country-by-country reporting on 19 May 2014 at the OECD Conference Centre in Paris, France. “
Comments received on discussion drafts on Neutralise the Effects of Hybrid Mismatch Arrangements published OECD
“07/05/2014 – On 19 March 2014, interested parties were invited to comment on the discussion drafts on Neutralise the Effects of Hybrid Mismatch Arrangements related to Action 2 of the BEPS Action Plan. Comments received have now been published.“
Countries commit to automatic exchange of information in tax matters OECD
“06/05/2014 – Bank secrecy for tax purposes is coming to an end as countries and major financial centres commit to automatic exchange of information between jurisdictions.
The Declaration on Automatic Exchange of Information in Tax Matters was endorsed during the OECD’s annual Ministerial Council Meeting in Paris by all 34 member countries, along with Argentina, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa.”
Continued Block On US Tax Treaty Approvals Tax-News (M Godfrey)
“Rand Paul (R – Kentucky), in a May 7 letter to United States Senate Majority Leader Harry Reid (D – Nevada), confirmed that he will continue to block the passage of five tax treaties that are presently awaiting a move to the Senate floor.
The passage of tax treaties through Congress has been blocked since 2011, largely through the efforts of Paul, who also introduced a bill last year to repeal swathes of the Foreign Account Tax Compliance Act (FATCA). Paul has cited privacy concerns surrounding the exchange of US taxpayer information within both the tax treaties and under FATCA.”
IRS To Restructure Services For Small Businesses Tax-News (M Godfrey)
“The United States Internal Revenue Service (IRS) is looking at a plan to realign compliance operations at its two largest business units, Wage and Investment (W&I) and Small-Business Self Employed (SB/SE).”
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