International Taxation

 Change would narrow regulations on overseas tax breaks  Republicans say rules aren’t necessary after 2017 tax overhaul Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid U.S. taxes, according to several people familiar with discussions. The Treasury is looking at regulations intended to […]

The United Arab Emirates and Switzerland are set to be removed from a European Union blacklist of countries deemed to be tax havens, according to a Reuters report citing an official document. Switzerland has delivered on its commitments, the document said, acknowledging that a tax reform passed last year – and due to be in […]

Malta has ratified the Malta – Monaco Income Tax Treaty (2018). The income tax treaty was signed on 1st October 2018, and it is the first of its kind between the two countries. By way of Legal Notice 91 of 2019, as published as a schedule to Legal Notice 70 of 2019 the treaty entered into […]

The Organisation for Economic Co-operation and Development is going to propose a global minimum tax that would apply country by country before the next meeting of G‑20 finance ministers and central bankers set for 17 Oct. in Washington, DC. G7 leaders announced at their Biarritz summit meeting this week a pledge to update international tax […]

The Mauritius Ministry of Finance and Economic Development has issued a joint communique in response to the so-called “Mauritius Leaks” investigation, which involves the recent publication by the International Consortium of Investigative Journalists (ICIJ) of data on over 200 companies that reportedly used Mauritius as part of tax schemes to avoid taxes in countries in Africa, Asia, […]

Automatic exchange of information on financial accounts has reduced bank deposits held in 46 key international financial centres (IFCs)  by 25% since 2008, an OECD report has revealed. Overall, cross-border bank deposits held in 40 key international financial centres by companies and individuals have fallen by 34% from their 2008 peak of $1.6trn, declining by $551bn. The […]

The European Commission is set to reverse its decision of including the British overseas territory on a list of global tax havens after the jurisdiction amended its legislation in order to comply with EU standards. The European Union’s tax commissioner, Pierre Moscovici, said the EU Code of Conduct (Business Taxation) Group (CCG) will receive a […]

Barbados, Belize, Curaçao, Mauritius, Saint Lucia and Seychelles have been warned by the EU that some of its tax policies are “harmful” and must be updated to comply with best practices by the end of this year. The European Union’s Code of Conduct Group (Business Taxation  has written to each, asking them to make a […]

The 36-member state OECD has revealed that there is growing consensus behind a US proposal for an overhaul of global corporate tax rules,  which would limit the ability of multinational companies to shift profits to low-tax jurisdictions. Earlier this year, the organisation put forward four different proposals to redesign corporate tax rules to address issues raised […]

The OECD’s Forum on Harmful Tax Practices (FHTP) has decided to assess the preferential tax regimes of all zero- or low-tax jurisdictions on their substantial activity requirements, as well as on the transparency of their tax rulings. All preferential regimes for ‘geographically mobile’ income such as royalties must now meet the OECD’s Substantial Activities Requirements. […]