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OECD report: policymakers may consider providing guidance on inheritance tax on virtual currency
Oct 12,2023
The Organisation of Economic Co-operation and Development (OECD) published a report, Taxing Virtual Currencies: An Overview of Tax Treatments and Emerging Tax Policy Issues. Given the tax policy challenges posed by crypto-assets, the OECD notes that ...
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Facebook paid 4.2 million pounds in UK corporation tax last year
Oct 10,2023
After the debacle of Facebook's 2014 UK tax records -it had only paid about 4000 pounds -Facebook has now paid 4.2 million pounds to the British tax authorities. Since 1 April 2016, Facebook has ceased to route advertising sales through Ireland,...
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France and Apple meet and discuss tax reforms
Oct 09,2023
Apple CEO Tim Cook has met French President Emmanuel Macron in Paris, at Cook's request. France is leading a group of countries that are looking into ways to tax the Internet industry more effectively. According to French officials, Cook didn't push ...
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Countries agree on finalised framework for OECD's Two-Pillar global tax reform
Oct 08,2023
A total of 136 countries have agreed to the final framework for the OECD's new global corporate tax rules, which will affect giant tech companies including Google, Apple, Facebook, and Amazon. The October agreement -the so-called Statement on th...
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Estonia agrees to sign OECD tax deal
Oct 07,2023
Similar to Ireland, Estonia has held out on the OECD's deal until yesterday (7 October). And similar to Ireland, it's concerns were over the so-called Pillar II of the OECD's deal, which sets the tax rate at 15% for companies earning
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Ireland drops low-tax policy and agrees to sign OECD tax deal
Oct 07,2023
Ireland's cabinet agreed to drop its low 12.5% tax rate, in favour of the OECD's new global tax agreement, ahead of today's OECD meeting to seal the deal further. (We'll report on the outcome in our October newsletter and in next week's digest).&nbsp...
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Amazon and the EU start settlement discussions
Oct 06,2023
Amazon Inc and the European Union have started settlement discussions about Amazon's e-book deals with publishers. The EU launched an antitrust investigation into Amazon's practices last year, examining 'whether Amazon's contracts prevent compet...
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EU orders Amazon to repay
Oct 04,2023
The European Commission has found that Luxembourg provided illegal tax benefits to Amazon of around
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Internet tax freedom act Update
Sep 30,2023
The US Internet Tax Freedom Act, expiring at the end of September 2015, was extended again until 11 December 2015. Dating back to 1998, the legislation prevents state and local governments from taxing internet access, or imposing multiple or discrimi...
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Vodafone wins against India's tax department in US$2 billion tax dispute case
Sep 25,2023
The Permanent Court of Arbitration in Hague has ruled in favour of the Vodafone Group against the income tax department of India in a long pending arbitration case of US$2 billion tax dispute on a retrospective basis. In the ruling, the international...
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European Commission to appeal judgement on Apple state aid case
Sep 25,2023
The Executive Vice President of the European Commission, Margrethe Vestager, issued a statement announcing that the European Commission (EC) will appeal the decision of the General Court of the EU from July 2020. This judgement annulled the EC decisi...
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Google may face an Indonesian tax bill of more than $400 million
Sep 20,2023
Reuters reports that Indonesian authorities might issue Google a tax bill of more than$400 million in unpaid taxes for 2015 alone. The Indonesian tax office claims that PT Google Indonesia 'paid less than 0.1 percent of the total income and value-add...
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