OECD 2018 Progress Report on Preferential Regimes: Curaçao regimes not harmful, respectively no longer harmful or out of scope
The OECD has released today its new publication, Harmful Tax Practices - 2018 Progress Report on Preferential Regimes (hereafter “the Progress Report”, or “the report”), which contains results demonstrating that jurisdictions have delivered on their commitment to comply with the standard on harmful tax practices, including ensuring that preferential regimes align taxation with substance. The release of the report has been announced today with a press release as published on the ...
OECD 2018 Progress Report on Preferential Regimes: Aruba regimes in the process of being eliminated/amended
The OECD has released today its new publication, Harmful Tax Practices - 2018 Progress Report on Preferential Regimes (hereafter “the Progress Report”, or “the report”), which contains results demonstrating that jurisdictions have delivered on their commitment to comply with the standard on harmful tax practices, including ensuring that preferential regimes align taxation with substance. The release of the report has been announced today with a press release as published on the ...
Behandeling ontwerp-begroting 2019 van Curaçao in de Staten, nota n.a.v. verslag en een nota van wijziging aangeboden. Onder meer vragen over Solar tax en Film tax incentive
Op maandag 10 december is de behandeling aangevangen van de ontwerp-begroting voor het dienstjaar 2019 in een openbare vergadering van de Staten van Curaçao. Voor deze behandeling zijn zes dagen uitgetrokken: maandag 10 december, dinsdag 11 december, donderdag 13 december, vrijdag 14 december, maandag 18 december en dinsdag 19 december 2018. De Ontwerp-landsverordening tot vaststelling van de Begroting (Beleidsdeel) van Curaçao voor het dienstjaar 2019 (Zittingsjaar 2018-2019-134) (de Ontwerp-begroting 2019) ...
OECD invites taxpayer input on seventh batch of Dispute Resolution peer reviews
Improving the tax treaty dispute resolution process is a top priority of the BEPS Project. The Mutual Agreement Procedure (MAP) peer review and monitoring process under Action 14 of the BEPS Action Plan was launched in December 2016 with the peer review process now well underway. The peer review process is conducted in two stages. Under Stage 1, implementation of the Action 14 minimum standard is evaluated for Inclusive Framework ...
Progress report from the Inclusive Framework on BEPS: Aruba and Curaçao mentioned as jurisdictions with regimes that have been brought under the FHTP review process
The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are only offered to substantive activities and only if they do not pose risks of harmful competition to others. This was announced by the OECD with a press release dated 15 November 2018. The assessment process is part of ongoing implementation of Action 5 under ...
Progress report from the Inclusive Framework on BEPS: Aruba mentioned as jurisdiction that has made a commitment to make legislative changes
The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are only offered to substantive activities and only if they do not pose risks of harmful competition to others. This was announced by the OECD with a press release dated 15 November 2018. The assessment process is part of ongoing implementation of Action 5 under ...
Progress report Inclusive Framework on BEPS: Curaçao mentioned as jurisdiction that has delivered on its commitment to make legislative changes
The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are only offered to substantive activities and only if they do not pose risks of harmful competition to others. This was announced by the OECD with a press release dated 15 November 2018 The assessment process is part of ongoing implementation of Action 5 under ...
OECD releases latest results on preferential regimes and moves to strengthen the level playing field with zero tax jurisdictions
International efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide, according to new data released today by the OECD. This was announced by the OECD with a press release dated 15 November 2018. The latest progress report from the Inclusive Framework on BEPS covers the assessment of 53 preferential tax regimes, demonstrating jurisdictions' continuing resolve to ensure that tax breaks are ...
Grenada joins the Inclusive Framework on BEPS
On 26 October 2018 it was announced on the website of the OECD that Grenada joins the Inclusive Framework on BEPS. The item on the website of the OECD only contains a link to the updated list (October 2018) of Members of the Inclusive Framework on BEPS on which list Grenada now appears. The item on the website of the OECD does not yet contain further information on this topic ...
Antigua and Barbuda, Dominica and Saint Vincent and the Grenadines join the Inclusive Framework on BEPS
On 23 October 2018 it was announced on the website of the OECD that Antigua and Barbuda, Dominica and Saint Vincent and the Grenadines join the Inclusive Framwork on BEPS. The item on the website of the OECD only contains a link to the updated list (October 2018) of Members of the Inclusive Framework on BEPS on which list Antigua and Barbuda, Dominica and Saint Vincent and the Grenadines now ...
OECD releases 2017 global mutual agreement procedure statistics
Improving the effectiveness and timeliness of dispute resolution mechanisms is the aim of Action 14 of the BEPS Action Plan (read the final report on Action 14 of the BEPS Action Plan) and is also part of the wider G20/OECD tax certainty agenda. The Action 14 minimum standard requires jurisdictions to seek to resolve mutual agreement procedure ("MAP") cases within an average timeframe of 24 months. To monitor compliance with this, ...
Aruba joins the Inclusive Framework on BEPS
On the website of the OECD it was announced on 27 September 2018 that Aruba joins the Inclusive Framework on BEPS. The item on the website of the OECD only contains a link to the updated list (September 2018) of Members of the Inclusive Framework on BEPS on which list Aruba now appears. The item on the website of the OECD does not yet contain further information on this topic ...
Ontwerp-begroting 2019 van Curaçao: algemene doelstellingen Ministerie van Financiën op fiscaal gebied, beleid, productiviteit en innovatie belastingstelsel
Op 11 september 2018 is door de Regering de Ontwerp-landsverordening tot vaststelling van de Begroting (Beleidsdeel) van Curaçao voor het dienstjaar 2019 (Zittingsjaar 2018-2019-134) (de Ontwerp-begroting 2019) aangeboden aan de Staten van Curaçao. In de speciale uitgave van het CFN van vandaag besteden wij, onderverdeeld in een aantal artikelen, aandacht aan de onderwerpen die in de begroting aan de orde komen met betrekking tot belastingen, belastingheffing en belastingbeleid: Belastingopbrengsten (klik ...
OECD releases further guidance for tax administrations and MNE Groups on Country-by-Country reporting (BEPS Action 13)
The Inclusive Framework on BEPS has released additional interpretative guidance to give certainty to tax administrations and MNE Groups alike on the implementation of Country-by-Country (CbC) Reporting (BEPS Action 13). The release of the new guidance was announced in a press release dated 13 September 2018 as published on the website of the OECD. The new guidance includes questions and answers on the treatment of dividends received and the number of employees ...
New brochure outlining the OECD’s work on tax
The OECD has released a new brochure outlining the OECD’s work on tax: “OECD Work on Taxation 2018-19”. In his preface to the brochure, the OECD’s Secretary-General Mr. Angel Gurría recalls among others that great success was achieved in tackling tax evasion through the Global Forum on Transparency and Exchange of Information for Tax Purposes (which has more than 150 members, hereafter: “the Global Forum”) and that it is estimated ...
OECD and Norway agree new partnership to help developing countries address taxation challenges
The OECD and Norway agreed on 10 September 2018 to gear up efforts to help developing countries address their domestic resource mobilisation challenges in order to finance the Sustainable Development Goals. This was announced in a press release dated 10 September 2018 as published on the website of the OECD. Nikolai Astrup, Norway's Minister for International Development, and Pascal Saint-Amans, Director of the OECD's Centre for Tax Policy and Administration ...
OECD releases seven new transfer pricing country profiles and an update of a previously-released profile
The OECD has published new transfer pricing country profiles for Costa Rica, Greece, Republic of Korea, Panama, Seychelles, South Africa and Turkey. In addition, it has also updated the information contained in Singapore’s profile. The country profiles are now available for 52 countries. This was announced in a press release of 7 September 2018 as published on the website of the OECD. The OECD continues to publish and update the transfer pricing ...
OECD releases fourth round of BEPS Action 14 peer review reports on improving tax dispute resolution mechanisms
The work on BEPS Action 14 continues with yesterday’s publication of the fourth round of stage 1 peer review reports, as announced in a press release published on the website of the OECD on 30 August 2018. Each report assesses a country’s efforts to implement the Action 14 minimum standard as agreed to under the OECD/G20 BEPS Project. The reports of Australia, Ireland, Israel, Japan, Malta, Mexico, New Zealand and Portugal published today contain over 130 targeted recommendations that will ...
OECD invites taxpayer input on sixth batch of Dispute Resolution peer reviews (BEPS Action 14)
The OECD invites taxpayer input on sixth batch of Dispute Resolution peer reviews (BEPS Action 14), according to a press release dated 26 July 2018 published on the website of the OECD. From the press release: Improving the tax treaty dispute resolution process is a top priority of the BEPS Project. The Mutual Agreement Procedure (MAP) peer review and monitoring process under Action 14 of the BEPS Action Plan was ...
OECD tax report to G20 Finance Ministers. Includes status regarding Aruba, Curaçao and Sint Maarten
On 22 July 2018, the OECD Secretary-General report to the G20 Finance Ministers and Central Bank Governors was published on the website of the OECD. The report contains two parts. Part I is a report on the activities and achievements of the OECD’s tax agenda, and is made of two subparts: looking back at significant achievements and looking ahead at the further progress needed, in particular through the OECD/G20 Inclusive ...
OECD/G20 Inclusive Framework on BEPS: Progress Report July 2017-June 2018 published. Review Curaçao on mutual agreement procedures scheduled for the 8th batch, by April 2019
The OECD/G20 Inclusive Framework on BEPS has published the Progress Report July 2017-June 2018, according to a post on the website of the OECD. The Progress Report was published on 22 July 2018. Please note that a new version was published on 23 July 2018 in order to correct Figure 1 on page 15: Signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base ...
OECD releases new guidance on the application of the approach to hard-to-value intangibles and the transactional profit split method under BEPS Actions 8-10
On 21 June 2018, the OECD released two reports containing Guidance for Tax Administrations on the Application of the Approach to Hard-to-Value Intangibles, under BEPS Action 8; and Revised Guidance on the Application of the Transactional Profit Split Method, under BEPS Action 10. From the press release dated 21 June 2018 as published on the website of the OECD: In October 2015, as part of the final BEPS package, the OECD/G20 published ...
OECD releases decisions on 11 preferential regimes of BEPS Inclusive Framework Members
The Inclusive Framework on BEPS released the updates to the results for preferential regime reviews conducted by the Forum on Harmful Tax Practices (FHTP) in connection with BEPS Action 5. This follows from a press release published on the website of the OECD on 17 May 2018. Four new regimes were designed to comply with FHTP standards, meeting all aspects of transparency, exchange of information, ring fencing and substantial activities and are found ...
Exempt company regime and free zone regime under review Inclusive Framework on BEPS
The Inclusive Framework on BEPS released the updates to the results for preferential regime reviews conducted by the Forum on Harmful Tax Practices (FHTP) in connection with BEPS action 5. This follows from a press release published on the website of the OECD on 17 May 2018. Refer to a separate article about said report in today’s CFN. Eleven new preferential regimes are identified since the last update, bringing the total to 175 ...
EU publishes list of non-cooperative jurisdictions for tax purposes. Aruba and Curaçao determined co-operative, subject to the successful delivery of their commitments
The first ever EU list of non-cooperative tax jurisdictions has been agreed today, Tuesday 5 December 2017, by the Finance Ministers of EU Member States during their meeting in Brussels, as the European Commission announced today in a press release published on its website. The Council, at its meeting of today, adopted the Council conclusions on the EU list of non-cooperative jurisdictions for tax purposes. In total, ministers have listed ...
Curaçao regimes of the tax exempt entity, the export facility, and the E-zone mentioned in the 2017 Progress Report on Preferential Regimes as in the process of being amended
On 16 October 2017 the report “Harmful Tax Practices - 2017 Progress Report on Preferential Regimes, Inclusive Framework on BEPS: Action 5” was released by the OECD. This report provides details on the outcome of peer reviews undertaken of 164 preferential tax regimes identified amongst the more than 100 jurisdictions participating in the OECD Inclusive Framework on BEPS. See the separate item in today’s CFN regarding said report: “Harmful Tax Practices ...
Harmful Tax Practices – 2017 Progress Report on Preferential Regimes released
Governments have dismantled, or are in the process of amending, nearly 100 preferential tax regimes as part of the OECD/G20 BEPS standards to improve the international tax framework, according to a progress report released by the OECD/Inclusive Framework on 16 October 2017. The report “Harmful Tax Practices - 2017 Progress Report on Preferential Regimes, Inclusive Framework on BEPS: Action 5” provides details on the outcome of peer reviews undertaken of ...
Third meeting of the Inclusive Framework delivers results, according to OECD
Over 200 delegates from 83 countries and jurisdictions as well as 12 international and regional organisations met in Noordwijk, The Netherlands for the Third Meeting of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS), according to an announcement on the website of the OECD on 22 June 2017. The meeting , inter alia, discussed and approved its first monitoring report, which will be submitted to G20 Leaders for ...
