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: 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: 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: BVI Explains Economic Substance Requirements During COVID-19 Outbreak
The British Virgin Islands‘ International Tax Authority has provided guidance on how companies can meet the economic substance rules during the coronavirus outbreak.
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.
Lowtax.net News: Belize Removed From EU’s Tax Blacklist
The EU has removed Belize from its list of non-cooperative tax jurisdictions and Macedonia from its „grey list.“
Lowtax.net News: Mauritius Ratifies BEPS MLI
Mauritius has recently ratified the base erosion and profit shifting (BEPS) multilateral instrument, agreeing to make changes to its tax treaty network to prevent abuse.
Lowtax.net News: Hong Kong Creates Website To Explain TP Documentation
Hong Kong’s Inland Revenue Department has created a webpage to explain the requirements for master and local file reporting under the country-by-country reporting regime.