Posted by: Michael Devereux on March 3, 2020
By François Bares, Michael Devereux and İrem Güçeri In its Global Anti-Base Erosion (GloBE) proposal (also commonly referred to as Pillar II), the OECD has proposed a minimum tax to be paid by multinationals on their foreign profits. Recent CBT Blogs have already summarised the key components of the GloBE proposal and so in this […]
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Posted by: Michael Devereux on February 18, 2020
by Michael Devereux and John Vella The 137 countries comprising the OECD’s Inclusive Framework recently agreed to continue exploring the two sets of proposals grouped under Pillars I and II on a “without prejudice basis”. The quest for reform rolls on, at least for the time being. How it will end is anybody’s guess. The […]
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Posted by: Michael Devereux on February 7, 2020
by Sarah Clifford, Michael P. Devereux and Martin Simmler Last week the 137 members of the OECD’s Inclusive Framework agreed to continue work on its Global Anti-Base Erosion (GloBE) proposal (also often referred to as “Pillar 2”). The core element in the proposal is a minimum tax on foreign profits derived by multinational groups. The […]
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Posted by: Alice Pirlot on December 18, 2019
Ursula von der Leyen, the president of the European Commission, recently released her political guidelines for the Commission’s new five-year term. One of her key proposals is a so-called “European Green Deal”. This initiative is intended to make Europe “the first climate-neutral continent in the world by 2050”. Her plan includes the revision of the […]
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Posted by: Michael Devereux on October 22, 2019
Regular readers of CBT blogs may have noticed the lack of recent contributions. Apologies. One reason is a lack of time, partly due to completing a book with the Oxford International Tax Group – watch this space for further news on that. But a more important reason is that Richard Collier – the driving force […]
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Posted by: İrem Güçeri on April 30, 2019
The process of innovation is rarely swift and problem-free. Progressing from an innovative idea in the course of a research and development (R&D) programme through the stages of prototype, production, marketing and ultimately a successful sales strategy is fraught with difficulty, even when the invention is truly novel and potentially a boon to the world. […]
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Posted by: Michael Devereux on March 27, 2019
The recent OECD consultation, notionally on the tax challenges brought by the digitalisation of the economy, has resulted in over 230 responses, from ACCA to Zalando. If it were just about new rules for a handful of large digital companies, that would be surprising. But it is not. The changes afoot go right to the […]
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Posted by: Alice Pirlot on December 18, 2018
Over the past years, a broad range of tax measures have faced criticism due to their alleged incompatibility with the law of the World Trade Organization (WTO). In 2016, when the United States considered moving from traditional corporate income taxes to destination-based taxes, some tax academics argued that the proposal was contrary to WTO […]
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Posted by: Paul Morton on December 3, 2018
The international tax system is too complicated. Is it even right to call this dishevelled, mountainous conglomeration a “system”? The combination of complex and rapidly expanding domestic law, the ever-increasing complexity of international business exacerbated by digitalisation, and the growing number of domestic tax disputes is leading to ever greater uncertainty for business. Heaped over […]
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Posted by: Michael Devereux on October 23, 2018
The American bank robber Willie Sutton is best remembered for an answer (which he claimed never to have given) to the question “why do you rob banks?”. The answer was “that’s where the money is”. I’d like to suggest that proposals – from HM Treasury, the EU, and others – for a digital services tax […]
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