tax treaties tagged posts

BEPS Will Raise Taxes and Cost Worldwide

June 7, 2016 International Tax Cooperation

CHICAGO – Mid-sized international businesses around the world are afraid that upcoming international tax rules will hike their taxes, increase complaince costs, and interfere with their business strategies.

In a report released over the weekend, the international management consultancy firm RSM showed that a significant portion of mid-sized international businesses expect to see greater compliance and tax costs as a result of the international Base Erosion and Profit Shifting rules (BEPS).

The new rules are a G20 and OECD initiative originally aimed at cutting down opportunities for large multinational firms to evade taxes by implementing new measures like stricter reporting requirements, increased scrutiny of transfer pricing practices, and changes to bilateral tax treaties.

In its new ...

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New Discussion Launched on Tax Treaty Abuse

March 18, 2014 International Tax Cooperation

Tax Treaty AbusePARIS – The OECD is initiating an international discussion into measures to prevent the occurrence of profits shifting and tax evasion through the abuse and misuse of international tax treaties.

Late last week the Organization for Economic Cooperation and Development released a public discussion draft “Preventing the Granting Of Treaty Benefits In Inappropriate Circumstances”, addressing the controversial practices and techniques used by some multinational corporations and wealthy individuals to avoid, or even evade, tax obligations in their home countries and abroad.

The new public discussion draft concentrates on creating and clarifying guidelines and provisions to prevent the abuse of existing and future international tax treaties through treaty shopping and any other intentional a...

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Switzerland To Share More Tax Data

July 19, 2012 International Tax CooperationTaxation in Switzerland

Information sharing SwitzerlandBERN – Switzerland will soon loosen its own rules for sharing taxpayer information and will begin to accept requests for data on cases of tax evasion committed by several individuals.

On July 18th the Switzerland’s Federal Department of Finance announced that it intends to implement legislation in line with new OECD information sharing guidelines, which will allow Switzerland’s tax authorities to share greater amounts of information on overseas residents who hold bank accounts in Switzerland, and will better facilitate the sharing of data regrading suspected cases of tax evasion involving more than one individual.

The new rules will allow all OECD member countries to ask for information from the Swiss authorities on individuals with bank account held in Switzerland without having to ide...

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Ghana Signs OECD Tax Convention

July 11, 2012 International Tax CooperationTaxation in Ghana

Ghana OECD tax convetionACCRA – Ghana has signed a multinational tax agreement, which could help fight cross border tax evasion and raise more funds for development projects in the country.

On June 10th Ghana become the 36th country to sign the OECD’s Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement intended to help participating countries eliminate international tax evasion and aids tax authorities to ensure tax compliance.

While speaking at a press conference shortly after the signing of the Convention the deputy Minister of Finance of Ghana Seth Terkper said that “…Ghana appreciates the present cordial relationship with the OECD and will adopt the exchange of information mechanism to reduce tax evasion...

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Switzerland, Austria Will Sign Tax Deal

April 13, 2012 Taxation in AustriaTaxation in Switzerland

Tax deal goes hidden swiss bank accountsVIENNA – The governments of Switzerland and Austria could sign a new tax agreement within a matter of the next few days, potentially leading to the recovery of more than EUR 1 billion in previously unpaid taxes in Austria.

In an interview given to the Austrian media on April 12th the national Minister of Finance Maria Fekter revealed that Austria and Switzerland are ready to sign a tax deal, which could dramatically reduce the use Swiss banks accounts by Austrian taxpayers avoiding their tax obligations.

In her interview Maria Fekter indicated that the Ministry of Finance of Austria are ready, and will, sign the deal as soon as possible, saying that she is scheduled to be in Berne on April 13th to meet the Minister of Finance of Switzerland Eveline Widmer-Schlumpf in order to finalize the...

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