Big 4
The overhaul will reduce the number of the firm’s “economic units” to 32
OECD | Transfer Pricing
Jurisdictions can adopt OECD’s Latest Guidelines on the Amount B approach for relevant transactions starting from fiscal years commencing on or after January 1, 2025
India | Tax Policy
New Income Tax Bill on the horizon, push for certainty and economic expansion, focus on manufacturing incentives and IFSC growth
US | Customs
President Trump issued Executive Orders imposing new tariffs on imports from Canada, Mexico, and China, effective February 4, 2025, ranging from 10% to 25%
US | Customs
As US and Chinese companies prepare for the potential impact of President Trump’s protectionist trade policies, uncertainty remains pervasive
China | Indirect Tax
VAT Law is Available to Download in English Here!
China | VAT
Adopted end of December 2024, it aims aligning China´s VAT system closer to international standards
US | Customs
Strategic export controls to “address national security threats”
China | Customs
Overview of the New Regulations on Export Control of Dual-Use Items
Australia | Big 4
Report on Ethics and Accountability in the Audit and Consultancy Sector contains numerous recommendations post PWC Australia scandal
Australia | Direct Tax
Litigation resulted in favorable outcome for ATO in 53% of cases, Settlements involving income tax and transfer pricing secured ATO 69% of disputed amounts
China | Tax Policy
China's Economic Stimulus Amid Rising Global Tensions
Australia | Transfer Pricing
Effective from 1 January 2025, most significant change to CbC reporting to-date
OECD | Tax Policy
OECD Taxation Working Papers No 70 Released
Australia | Tax Policy
New Pathway for Taxation Disputes
EU | China Customs
A levy of up to 39% in Response to EU´s Tariffs on Chinese Electric Vehicles
EU | Customs
Additional tariffs on Chinese-made EVs up to 35.3% for five years
OECD BEPS
New Treaty Strengthens Pillar Two Global Minimum Tax with Subject to Tax Rule, Protecting Developing Countries' Tax Bases
OECD BEPS
Latest BEPS Developments
China | Big4
The toughest ever penalty received by a Big Four accounting firm in China, accusations of aiding in the concealment of fraud, exodus of clientele and layoffs at the firm
Australia | Tax Policy
Focus on new high-risk tax areas for multinationals, Improvement of public reporting on large business tax information to boost transparency amongst other focus areas
UN | International Tax
A path to a universally accepted and effective international tax framework remains complex
OECD | Transfer Pricing
Essential for ensuring that developing countries can tax lithium exports appropriately
UN | Tax Policy
US Feedback on the Zero Draft Terms of Reference for a UN Framework Convention on International Tax Cooperation
Big 4 | Tax Policy
Deloitte published 2024 Global Tax Policy Survey interviewing +1000 professionals from 28 countries with 90% being multinational organizations.
United Nations | Transfer Pricing
Shaping Global Tax Norms and Addressing Transfer Pricing Challenges
Malaysia | E-Invoicing and E-Reporting | Indirect Tax | E-Invoicing and E-Reporting
Flexibility in Submitting Consolidated E-Invoices During Initial E-Invoice Implementation Phase
OECD | G20 | International Tax
Historic declaration on international tax cooperation
OECD G20
Key reports on international tax cooperation, digital economy challenges, and inequality highlight OECD's pivotal contributions to G20 financial policy discussions.
India | Union Budget 2024-2025
Union Budget 2024-25 on International Tax
Big4 | Scandal
Leaving Clients, Staff reductions, Pay cuts, Fines
India | Direct Tax | Indirect Tax | Customs | Personal Income Tax
FM presents 2024-25 Budget: GST expansion, customs review, Income Tax Act simplification, and investment boost measures proposed. Aims to enhance compliance and stimulate growth.
United Nations | International Tax
Priorities include Taxation of the digitalized and globalized economy; income derived from cross-border services, high-net-worth individuals
Australia | Tax Policy
Aims to Restore Public Trust in Tax Profession
Australia | Direct Tax | Transfer Pricing
Full Federal Court Reverses Federal Court Decision on Embedded Royalty.
OECD BEPS
Pillar One and Pillar Two Tax Measures, CbCR Safe Harbour Guidance, Qualified Status
European Union | China | Customs
Investigation Reveals Unfair Subsidies in China. Provisional Duties to be introduced on July 4, 2024
Australia | CIT
If approved, public CbC reporting will be effective for reporting periods starting on or after 1 July 2024
OECD Pillar 1
Pillar 1 encounters roadblocks
OECD BEPS
Advancing towards a final agreement on Pillar One, the anticipated signing of the Multilateral Convention by the end of June
OECD | Tax Crime
Supporting the Implementation of Principle 2 of the OECD Recommendation on Tax Crime
European Union | New Zealand | Customs
Most goods will have tariffs removed upon the FTA's commencement
OECD | Personal Income Tax
Annual publication provides details of taxes paid on wages in OECD countries.
OECD BEPS
Tax Challenges Arising from the Digitalisation of the Economy.
Worldwide Indirect tax
Annual update. Worldwide VAT, GST and Sales Tax Guide 2024
Australia | Big 4
Job Cuts, Penalties
OECD Amount B of Pillar One
A simplified approach to applying the arm's length principle to baseline marketing and distribution activities.
Brazil | France | Global Minimum Tax
Brazil and France at the forefront in bringing forward the idea of 2% tax
Philippines | Direct Tax
Details on Return filing and payments
Australia | Direct Tax
Aiming at greater transparency and accountability in corporate tax matters
Singapore | New Zealand | E-Invoicing
Further steps in promoting eInvoicing adoption in the Asia-Pacific (APAC) region.
UAE | Direct Tax
The purpose of Guide CTGQGR1 is to offer comprehensive guidance on Qualifying Group Relief as per Article 26 of the UAE Corporate Tax Law.
India | Transfer Pricing
A structured and proactive approach to transfer pricing certainty
Singapore | E-invoicing | APAC
Implementation of InvoiceNow for GST-Registered Businesses and Free InvoiceNow Services for Newly Incorporated Businesses
Malaysia | E-invoicing
Failure to issue e-Invoice may result in penalties or imprisonment for each non-compliance
India | CIT | PE | Permanent Establishment | APAC
Physical presence of employees in India is indeed a prerequisite for determining the existence of a Service PE
India | APAC | Direct Tax
No further profit attribution if an associated enterprise is remunerated at arm´s length
India | Indirect Tax
The imposition of GST on intragroup guarantees represents a significant regulatory shift
Australia | Thin Capitalization
Making Multinationals Pay Their Fair Share—Integrity and Transparency Bill 2023 passed in Senate and House of Representatives
Reach your target audience
Contact us at hello@taxspoc.com