Tax

• OECD still aims for global tax agreement this year

  Officials warn that failure to reach international agreement on the taxation of the digitalised economy could trigger trade disputes.

• Apple’s tax agreement with Ireland was lawful, EU court says

  The tech giant avoids, for now anyway, having to pay billions in back taxes the European Commission says it must pay.

• US partnership form being redesigned for international items

  To help standardise the format of international tax items, the US has proposed modifying its partnership tax return form.

• The OECD’s new reporting framework for the gig economy

  The model rules are designed to help tax authorities collect information on digital platform users’ income to ensure it can be taxed.

• Multinationals must document transfer-pricing changes

  The pandemic may require adjustments to transfer-pricing arrangements, and the time to document the changes is now.

• US offers tax relief for COVID-19 residency disruption

  The US Internal Revenue Service (IRS) provided relief to individuals and businesses whose tax residence might be affected by cross-border travel disruptions arising from the COVID-19 crisis, such as cancelled flights, border closings, or shelter-in-place orders.

• Taking stock of global economic responses to COVID-19

  What emergency tax and fiscal measures have nations worldwide been adopting during the pandemic? A new OECD report provides the answer and suggests paths forward during and after the crisis.

• OECD suggests tax responses to COVID-19 crisis

  The Organisation for Economic Co-operation and Development offers ideas about how governments can lessen the pandemic’s economic impact with tax relief.

• UK’s economic response to COVID-19 pandemic takes shape

  UK chancellor of the exchequer announces unprecedented response to the pandemic’s economic fallout, including helping to pay furloughed employees’ wages.

• UK digital services tax about to take effect

  From 1 April, a new 2% tax will apply to the UK revenues of large multinationals that operate social media platforms, search engines, and online marketplaces.

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