Taxand's Take - February 2015

BEPS stepping into China

In November 2014, the OECD released its new strategy for deepening developing countries' engagements in the BEPS project, which will strengthen their involvements in the decision-making process and bring them into the heart of the technical work. Taxand China discusses how the jurisdiction will base new tax rules on BEPS and how these may affect multinationals.

China   

Catch 22? Conflict between VAT & TP principles

With the increasing development of TP guidelines and a renewed focus on VAT, it's easy to see where confusion with 'conflicting' tax principles may stem from. In particular, companies with an intra-group service function can face these issues as they must assess their right to VAT deductions with consideration to their VAT taxable turnover compared to their total turnover. Taxand Finland and Taxand Sweden focus on the impact conflicting tax principles have on European multinationals.

Finland    Sweden   

No issue in share issue: rules Bombay High Court

The Bombay High Court (HC) has recently provided its verdict regarding high profile transfer pricing disputes as favourable towards the taxpayers, including Vodafone India and Shell India. Further to our previous article on this subject, Taxand India provides an update on India's largest transfer pricing controversy.

India   

New Spanish corporate governance reform includes tax obligations

The law reforming the Spanish Corporate Enterprises Law for the improvement of corporate governance was published on 4 December 2014.

Spain   

Italy introduces patent box regime in line with the OECD 'nexus approach'

The Italian Budget 2015 introduces an optional patent box regime, which grants beneficial exemptions such as a 50% exemption on income derived from the direct use of a qualifying IP, as well as 100% exemption on capital gains arising from the sale of qualifying a IP. Taxand Italy highlights the main aspects of the new patent box regime and discusses the impact for multinationals.

Italy   

Advanced Tax Clearance practice formalised

The LuxLeaks affair has brought Luxembourg tax rulings or Advance Tax Clearances to the centre stage. However, procedures around the filing of these documents have already been under review. Taxand Luxembourg presents new modifications to the Advanced Tax Clearance (ATC) process.

Luxembourg   

VAT deduction for holding companies - the Swiss approach

In our Taxand's Take November edition, the VAT related uncertainties that holding companies are facing in the European Union were described. The message sent out by the European Member States is clear: holding companies will have to face another cut of their input VAT. Switzerland's approach offers an attractive, not to say unique, alternative. Taxand Switzerland outlines the key aspects of the nation's VAT rules: past and present.

Switzerland   

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