Uruguay deposits its instrument of ratification for the Multilateral BEPS Convention
On 6 February 2020, Uruguay deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Convention or MLI) with the OECD's Secretary-General, Angel Gurría, thus underlining its strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises. For Uruguay, the MLI will enter into force on 1 June ...
OECD releases consultation document on the review of Country-by-Country Reporting and invites public input (BEPS Action 13)
As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework), the OECD invites public comments on the Review of the BEPS Action 13 minimum standard. This was announced in a press release published on the website of the OECD. From the press release: Background Action 13 of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project (BEPS Action 13) established a three-tiered standardised approach to ...
Public comments received on misuse of residence by investment schemes to circumvent the Common Reporting Standard
On 19 February 2018, interested parties were invited to provide comments on a consultation document on misuse of residence by investment schemes to circumvent the Common Reporting Standard. The consultation document assessed how these schemes are used in an attempt to circumvent the CRS; identified the types of schemes that present a high risk of abuse; reminded stakeholders of the importance of correctly applying relevant CRS due diligence procedures in ...
OECD releases consultation document on misuse of residence by investment schemes to circumvent the Common Reporting Standard
The OECD is releasing a consultation document on misuse of residence by investment schemes, to circumvent the Common Reporting Standard, according to an announcement dated 19 February 2018 on the website of the OECD. In said announcement, the OECD informs as follows. More and more jurisdictions are offering "residence by investment" (RBI) or "citizenship by investment" (CBI) schemes, which allow foreign individuals to obtain citizenship or temporary or permanent residence ...