Country-by-Country Reporting under the BEPS Action 13 minimum standard will apply to reporting fiscal years of MNE groups commencing on or after 1 January 2016, and the first automatic exchanges of CbC Reports will take place no later than June 2018.
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Blueprint for Deepening the Reform of Collection and Administrative Systems of State and Local Tax Administrations (SAT)
The OECD base erosion and profit shifting project is looking at whether and why MNEs taxable profits are being allocated to locations different from those where the actual business activity takes place.
Bilateral Agreements that have been signed to establish exchange of information for tax purposes.
Engagement of developing countries in the international tax agenda, including on BEPS, is imperative, in particular to ensure they receive appropriate support to address the specific implementation challenges they face. The input received from developing countries has been fed directly into the development of the BEPS Action Plan.
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The rules of procedure concerning the signing of the Multilateral Convention on Mutual Assistance in Tax Matters.
Albania has become the 43rd country to sign the Convention on Mutual Administrative Assistance in Tax Matters.
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4 interim drafts: (i) a preface to the Guidelines; (ii) the core features of VAT-systems to which the Guidelines are intended to apply, (iii) place of taxation for cross-border supplies of services and intangibles to businesses that have establishments in more than one jurisdiction, (iv) implementation of specific rules for determining the place of taxation for cross border business-to business supplies of services and intangibles.
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Following the invitation for public comment on the commentary on the Guidelines on VAT neutrality, the OECD has now published the outcomes of the consultation. These comments were very supportive and were used to revise the commentary.
The OECD is currently developing International VAT/GST Guidelines to address issues of double taxation and unintended double non-taxation, and this work provides a unique basis for the creation of the future international standard for applying VAT to cross-border trade. This was the conclusion of delegates who participated in the inaugural meeting of the OECD Global Forum on VAT, in Paris on 7-8 November.