The government has published the draft Double Taxation Relief and International Tax Enforcement (Austria) Order 2018, which will bring into effect the new UK/Austria double taxation convention, signed on 23 October 2018.
The OECD secretary-general has published his report to the December 2018 meeting of G20 leaders in Buenos Aires, covering international tax developments including the digital economy, and progress on tax transparency.
The report is in two parts:
Plans to introduce an EU digital services tax (DST) have been significantly reduced in scope by a Franco-German joint declaration presented at the meeting of the Economic and Financial Affairs Council (ECOFIN) on 4 December.
Qatar has become the 85th country to sign the OECD’s Multilateral convention to implement tax treaty related measures to prevent BEPS, which allows jurisdictions to integrate results from the OECD/G20 BEPS project into their existing networks of bilateral tax treaties.
Including publication of guidance on MLI synthesised texts, reporting on preferential tax regimes, and gathering input on latest tax dispute resolution peer reviews.
The Isle of Man government has published draft legislation imposing requirements on Isle of Man resident companies undertaking specific activities to demonstrate that they have sufficient substance in the Isle of Man to access the island’s corporate tax regime.
HMRC has published the ‘synthesised’ text of the UK’s double taxation convention with Japan, as modified by the BEPS multilateral instrument (MLI). The MLI came into force for the UK on 1 October 2018 and will enter into force for Japan on 1 January 2019.
The regulation establishing new controls on cash entering or leaving the EU has been published in the EU official journal. The new measures will apply from 3 June 2021.
European finance ministers remained far apart on negotiations over the proposed EU digital services tax (DST) at the economic and financial affairs council (ECOFIN) meeting on 6 November.