Organization for Economic Co-operation and Development

News & Analysis as of

OECD BEPS Working Groups issue three discussion drafts

The Committee of Fiscal Affairs of the Organization of Economic Cooperation and Development (OECD) has released three documents: its proposed updated guidelines on the application of the transactional profit split, draft...more

Top Ten International Anti-Corruption Developments for June 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

Further down the rabbit hole we go: Additional guidance released by OECD on the attribution of profits to permanent establishments

Action 7 of the BEPS Action Plan1 tackles the definition of permanent establishment (PE) in order to prevent the artificial avoidance of a PE status through the use of commissionaire arrangements and the specific activity...more

China makes major changes to transfer pricing documentation and country-by-country reporting requirements

China’s State Administration of Taxation (SAT) on 13 July released on its website guidance that makes substantial changes that apply to multinationals’ transfer pricing compliance obligations for the 2016 fiscal year....more

Simply the Pest Management Regulatory Agency… and its Duty to Initiate Special Reviews

In Environmental Interest Groups Challenge Registrations of Neonicotinoid Products in Federal Court, we discussed a recent judicial review initiated by the David Suzuki Foundation and others with respect to conditional...more

OECD Publishes Dossier Summaries for CNTs, Fullerenes, and Silicon Dioxide

The Organization for Economic Cooperation and Development (OECD) recently published several dossier summaries for nanomaterials tested as part of its Testing Program of Manufactured Nanomaterials....more

IRS Floats Updated Qualified Intermediary Agreement

In recent Notice 2016-42, the IRS has proposed a new qualified intermediary (QI) agreement. The current QI agreement, set forth in Rev. Proc. 2014-39 (“the 2014 QI agreement”), expires December 31, 2016. The IRS expects to...more

Dentons Global Energy Summit 2016 Analysis

On 17 May 2016, Dentons' third annual Global Energy Summit brought together key industry leaders to discuss current challenges facing the energy sector and the opportunities arising from them. Over 200 delegates and 50...more

Obama Administration Issues Broad Anti-Money Laundering and Anti-Corruption Reforms, but Questions Still Remain

On May 5, 2016, the Obama Administration announced sweeping measures designed “to combat money laundering, corruption, and tax evasion.” The announcement came on the heels of the so-called “Panama Papers,” which revealed...more

Five on Friday – Five Recent Developments that We’ve Been Watching Closely: July 2016

It’s Friday and time for another overview of developments in the field of business and human rights that we’ve been monitoring. This week’s post includes: a new lawsuit aimed at combating human trafficking in corporate...more

Brussels Tax Alert

A. Beneficial tax regime - Law 89/1967 "On the Establishment in Greece of Foreign Commercial and Industrial Companies" was meant to attract foreign investments in Greece, by providing a wide range of benefits regarding...more

Financial Services Quarterly Report - Second Quarter 2016: OECD Common Reporting Standard: The Next Steps

The Common Reporting Standard (CRS) of the Organisation of Economic Co-operation and Development (OECD) came into effect on 1 January 2016 in “early adopter” jurisdictions, including the UK and popular fund jurisdictions such...more

EU Agreement on Trade Rules for Conflict Minerals

The European Union (EU) institutions have reached broad agreement on trade rules for so-called "conflict minerals". While the technical details still need to be established, we summarize the expected new EU rules below....more

Brexit: Keep Calm and Carry On?

Does the United Kingdom’s vote to leave the European Union change the United Kingdom’s attractiveness as a holding company jurisdiction?...more

Guest Post from Patrick Henz — Compliance Indicators

Most compliance presentations and documents mention at some point the Transparency International Corruption Perception Index (CPI), as it is by far the best known corruption index. Of course, unlike weight, temperature or...more

Brexit: What are the implications for tax law?

The precise impact of a Brexit on UK tax law is not possible to determine without knowing the terms of the exit negotiated by the UK with the EU and future government decisions. There are various ways the relationship between...more

EU Council Agrees on Final Anti Tax Avoidance Directive

We wrote in February (European Commission Publishes Anti Tax Avoidance Package) about the draft EU Anti Tax Avoidance Directive (“ATAD”). On 21st June 2016, the EU Council agreed on the final text of the ATAD and it will...more

Five Key Points about the New European Union Conflict Minerals Agreement

On June 15, the European Union announced that it had reached a “political understanding” on many of the substantive components of a new conflict minerals regulation. The regulation, once drafted, will be submitted to the...more

Anti Tax Avoidance Directive

On 21 June 2016, the EU Council reached agreement on the EU Anti Tax Avoidance Directive (“ATAD”). The ATAD is expected to be adopted in a forthcoming ECOFIN meeting, possibly on 12 July 2016. The Council had reached...more

Blog: EU reaches understanding on conflict minerals framework

According to Euranet Plus News Agency, the “EU has reached a preliminary deal to curb the trade in minerals from war zones and corrupt regimes. The rules will force companies that mine, refine or import ‘conflict minerals’...more

The Implementation of Automatic Exchange of Information for Tax Purposes Moves a Further Step Forwards in Singapore

On 9 May 2016, Singapore passed the Income Tax (Amendment No. 2) Act 2016 (Amendment Act). This is a first step towards the implementation of the Common Reporting Standards (CRS) developed by the Organisation for Economic...more

Taking a Gap Year: Delayed U.S. CbC Reporting Creates Hassle for U.S. Multinationals

Action 13 of the Organisation for Economic Co-operation and Development’s (OECD) final base erosion and profit-shifting (BEPS) report suggested the adoption of a standardized mechanism for transfer-pricing reporting. Per the...more

ECHA Consults PEGs on Nanomaterial Guidance Documents

The European Chemicals Agency (ECHA) recently submitted several draft guidance documents concerning nanomaterials to Partner Expert Groups (PEG) for consultation. Following consultation with PEGs, ECHA will consult its...more

EPA and PMRA Release New Harmonized Product Chemistry Templates

On June 2, 2016, the U.S. Environmental Protection Agency’s (EPA) Office of Pesticide Programs (OPP) and Health Canada’s Pest Management Regulatory Agency (PMRA) released harmonized product chemistry templates for use by...more

EU: ECOFIN approves implementation of country-by-country reporting in the EU but fails to reach consensus on EU...

EU COUNTRY-BY-COUNTRY REPORTING: ADOPTED On May 25, 2016, the European Union’s Economic and Financial Affairs Council (ECOFIN) voted unanimously in favor of the implementation of proposed country-by-country reporting...more

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