New peer review assessments on tax dispute resolution released (MAP – BEPS Action 14)
Despite the significant disruption caused by the ongoing COVID-19 pandemic and the necessity to hold all meetings virtually, work has continued with the release on Tuesday 13 September 2022 of the Stage 2 peer review monitoring reports regarding the minimum standard to improve the resolution of tax-related disputes between jurisdictions (BEPS Action 14) for Aruba, Bahrain, Barbados, Gibraltar, Greenland, Kazakhstan, Oman, Qatar, Saint Kitts and Nevis, Thailand, Trinidad and Tobago, ...
Tax transparency moves forward as twelve no or only nominal tax jurisdictions began their first exchange information on the substance of entities
On Wednesday 31 March 2021, twelve no or only nominal tax jurisdictions began their first tax information exchanges under the Forum on Harmful Tax Practice’s (FHTP) global standard on substantial activities. The standard ensures that mobile business income can no longer be parked in a low tax jurisdiction without the core business functions being carried out from that jurisdiction and that the countries where the parent entities and beneficial owners ...
Luchtvaartverdrag Curaçao-Verenigde Arabische Emiraten getekend, bevat ook enkele fiscale bepalingen
Op 17 december 2020 is het op 25 november 2020 te Dubai getekende Verdrag tussen de Regering van het Koninkrijk der Nederlanden, ten behoeve van Curaçao, en de Regering van de Verenigde Arabische Emiraten voor luchtdiensten tussen en via hun onderscheiden grondgebieden (met Bijlage) (Agreement between the Government of the Kingdom of the Netherlands, in respect of Curaçao, and the Government of the United Arab Emirates for Air Services between ...
OECD invites taxpayer input on tenth batch of dispute resolution peer reviews. Tenth batch includes the stage 1 peer review of Aruba
The OECD is now gathering input for the tenth batch of Stage 1 dispute resolution peer reviews, according to a press release on the website of the OECD. This tenth batch includes the peer review of Aruba. 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 ...
Global Forum on tax transparency reveals compliance ratings for further eight jurisdictions
On 12 November 2019, the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) published eight peer review reports assessing compliance with the international standard on transparency and exchange of information on request (EOIR). This was announced in a press release published on the website of the OECD. From the press release: These reports are part of the second round of Global Forum reviews, which ...
Curaçao receives an overall rating of Largely Compliant from the Global Forum
On 12 November 2019, the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) published eight peer review reports assessing compliance with the international standard on transparency and exchange of information on request (EOIR). The release of the reports was announced in a press release published on the website of the OECD. These reports are part of the second round of Global Forum reviews, which ...
OECD releases latest results on preferential regimes and new results on no or only nominal tax jurisdictions
Progress continues on implementing the BEPS Action 5 minimum standard, with a further 22 jurisdictions changing their laws to address harmful tax practices. On 19 July 2019, the Inclusive Framework on BEPS approved the latest results of reviews of jurisdictions' domestic laws conducted by the OECD Forum on Harmful Tax Practices (FHTP). The review covered not only preferential tax regimes, but the results of the review of the substantial activities ...
Documentation regarding removal of Aruba from the EU list of non-cooperative tax jurisdictions
Last week it was announced that Aruba has been removed from the EU list of non-cooperative jurisdictions for tax purposes. We now have access to the relevant official documents of the Council of the European Union. The removal was formalized in a Note from the General Secretariat of the Council of the European Union to Permanent Representatives of the Committee/Council, 15 May 2019 and the final description and assessment of ...
EU updates list of non-cooperative tax jurisdictions. Aruba among the countries that have been moved from the grey list to the blacklist
EU Finance Ministers have updated the EU list of non-cooperative tax jurisdictions, based on an intense process of analysis and dialogue steered by the Commission. The list has proven a true success with many countries having changed their laws and tax systems to comply with international standards. This was announced in a press release dated 12 March 2019 as published on the website of the European Commission. From the press ...
OECD clamps down on CRS avoidance through residence and citizenship by investment schemes
Residence and citizenship by investment (CBI/RBI) schemes, often referred to as golden passports or visas, can create the potential for misuse as tools to hide assets held abroad from reporting under the OECD/G20 Common Reporting Standard (CRS), the OECD expresses in the press coverage dated 16 October 2018 following the publication of the results of its analysis of over 100 CBI/RBI schemes offered by CRS-committed jurisdictions. From the press coverage: In particular, Identity ...