Thursday , January 18, 2018 |   16:54:40 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Instant Updates Newsletters
 
NEWS FLASH
 
I-T - Interest u/s 234B & 234C, should not be charged, in case application for determination of advance tax liability on contract receipts is pending consideration before AAR: HC (See 'Bresaking News') TP - Revenue cannot discard a standard method followed by assessee for determining ALP, without demonstrating fallacies in application of same: ITAT (See 'Bresaking News') TP - Ad hoc disallowances cannot be made u/s 92 while making assessment under other provisions of I-T Act: ITAT (See 'Bresaking News') TP - Assessee deserves grant of stay, in case Co-ordinate bench as well as Writ Court has stayed recovery of outstanding demand under identical circumstances: ITAT (See 'Bresaking News') Rebooting of GST - A TIOL word of caution for the Council (See 'THE COB(WEB)' in TIOL) I-T - Revenue Department is imposed with exemplary costs, for seeking constitutional remedy in case of frivolus petitions: HC (See 'Bresaking News') TP - No penalty is leviable pursuant to addition on account of TP adjustment, if prices charged/paid under international transaction is proved to be in accordance with Section 92C: ITAT (See 'Bresaking News') EU likely to remove many names from blacklist of tax havens (See 'TII Brief') TP - Companies engaged in diverse activities cannot be adopted as comparables to each other, in absence of segmental information: ITAT (See 'Breaking News') TP - AO cannot disobey directions issued by DRP u/s 144C(5) and pass final assessment order u/s 143(3) r/w/s 92CA by solely incorporating TPO's proposals: ITAT (See 'Breaking News') TP - Uniform multiplier effect on value of sales credit/INPV of derivative transactions between Assessee and its overseas AEs, is inappropriate- NO: ITAT (See 'Breaking News') I-T - Initiation of proceedings u/s 271(1)(c) without specifying charges/limb for which penalty has been proposed, is liable to be deleted: ITAT (See 'Breaking News') I-T - Consideration received by overseas entity (having PE in India) for rendering lighting services under Commonwealth Games, are taxable in India as 'Business Profits': AAR (See 'Breaking News') Sales tax on Online Retailers - US Supreme Court to revisit 1992 ruling (See 'TII Brief') Panama sign CRS Multilateral Competent Authority Agreement (See 'TII Brief') I-T - Assessee should be allowed to withdraw transfer pricing appeals, if he accepts Resolution passed under MAP procedure of the DTAAs: ITAT (See 'Breaking News')
 
TII SEARCH
 
 
   
Home >> News Brief
 

Over 100 preferential tax regimes dismantled across world: OECD
By TII News Service
Oct 18, 2017 , Paris

    

THE impact of BEPS standards has been so substnatial that tax jurisdictions have dismantled as many as 100 preferential tax regimes.

As per OECD Press Statement, its latest Report provides details on the outcome of peer reviews undertaken of 164 preferential tax regimes identified amongst the more than 100 jurisdictions participating in the OECD Inclusive Framework on BEPS.

The OECD/G20 BEPS Project delivers solutions for governments to close the gaps in existing international rules that allow corporate profits to “disappear” or be artificially shifted to low or no tax environments, where companies have little or no economic activity. Revenue losses from BEPS are conservatively estimated at USD 100-240 billion annually, or the equivalent of 4-10% of global corporate income tax revenues.

The BEPS Action 5 standard covers tax incentives (“preferential tax regimes”) that apply to mobile business income, such as financial and services income and income from intellectual property, which multinationals can shift with relative ease. To avoid a race to the bottom and negative spillover effects on other jurisdictions' tax bases, all 102 members of the BEPS Inclusive Framework have committed to ensuring that any regimes offered meet the criteria that have been agreed as part of BEPS Action 5. Crucially, this includes a requirement that taxpayers benefiting from a regime must themselves undertake the core business activity, ensuring the alignment of taxation with genuine business substance.

The Action 5 Progress Report on Preferential Tax Regimes includes the review of 164 preferential tax regimes offered by Inclusive Framework members against the Action 5 standard.

 
 
gmail login
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAAs
  • TIEAs
  • Circulars (I-T Act, 1922)
  • Circulars
  • Instructions
  • DRP Panel
  • Administrative Orders
  • Notifications
  • I-T Act, 1961
  • Relevant Portion of I-T Rules,1962
  • Relevant Portion of I-T Act,1922
  • GAAR
  • Equalisation Levy
  • Draft Guidelines
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • DTC Bill
  • UN Model
  • Miscellaneous
  • Guidance Notes - AEOI
  • OECD Conventions
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • Circulars
  • Instructions
  • Notifications
  • Relevant Sections of Act
  • TP Rules
  • Forms
  • Miscellaneous
  • APA Annual Report
  • APA Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • RBI Circulars
  • FDI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • Black Money Act
  • PMLA Notification
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • SEBI
  • Multimodal Transportation
  • Vienna Convention
  • NBFC Reports
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • Intellectual Property
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • CBR Act, 1963
  • MCA Circular
  • Book Review
  • Limitation Act
  • SSAs
  • EPFO
  • FAQs
  • Acts
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifcations
  • Types of Visa
  • Agreements
  • Arbitration
  • Model Text
  • Relevant Portion of I-T Act
  • Circulars
  • I-T Rules, 1962
  • MISC
  • Notifications
  • Subscribe
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2016 Taxindiainternational.com Pvt.Ltd. All rights reserved. | Powered by 4th Dimension