The Bahamas intends to lower the value-added tax rate from 12 percent to 10 percent, the territory announced in its supplementary 2021/22 Budget, released on October 27.
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Lowtax.net News: OECD Tax Plans To Have Relatively Small Impact On Bermuda: Fitch
Bermuda’s appeal as a domicile for (re)insurance will be dulled by the OECD’s latest international tax plans. However, the impact is likely to be less than the territory experienced after the US tax reform of 2017, says credit ratings agency Fitch Ratings.
Lowtax.net News: Cayman Seeks Input On Major Tax Transparency Changes
The Cayman Ministry of Financial Services has launched a consultation on the changes needed to enable public access to beneficial ownership information.
Lowtax.net News: Bahamas Announces Various VAT Changes In New Budget
The Bahamas Government has announced various changes to its value-added tax regime in its new Budget, focusing on the real estate sector, including for sharing economy platforms.
Lowtax.net News: EU Council Agrees Tax Blacklist Changes
Barbados has been removed from the European Union’s list of non-cooperative jurisdictions and Dominica has been added.
Lowtax.net News: BVI Reaffirms Tax Transparency Commitment
The Government of the British Virgin Islands has reiterated its commitment to working toward establishing a publicly accessible register on the beneficial ownership of companies.
Lowtax.net News: Hong Kong Updates Guidance On APA Regime
Hong Kong’s Inland Revenue Department has updated its guidance on Advance Pricing Agreements to reflect tax legislative changes in recent years and the territory’s response to the OECD’s base erosion and profit shifting Action Plan.
Lowtax.net News: EU Announces DAC7, Review Of Corporate Tax Code Of Conduct
p>The European Commission has announced plans for a new Directive on Administrative Cooperation, on the exchange of information on online platforms‘ sales, and a new Communication on Tax Good Governance.
Lowtax.net News: UK-Switzerland DTA Protocol To Become Fully Effective
The UK-Switzerland double tax agreement will be updated with new provisions to tackle tax base erosion and profit shifting, with full effect from April 6, 2020.
Lowtax.net News: Hong Kong, China Now Sharing CbC Reports
On March 4, 2020, the Hong Kong Government said that an arrangement with China on the automatic exchange of country-by-country reports is in effect.