Joy Svasti-Salee

Simply retweeting items of interest to students of ITL.

[EY International Tax and Transaction Services @EYIntlTax]

#Chile has adopted a substitute dividend WHT (#ISIF); the regime may be useful for taxpayer's w/accumulated taxable profits that have not been fully subject to CIT at the Chilean company level or the shareholders located in non-tax treaty jurisdiction. https://t.co/mvXRS4NPC3

[Bloomberg Tax @tax]

The OECD is discussing with businesses the possibility of creating more permanent safe harbors that would ease the burden of complying with the global minimum tax. https://t.co/JG6rz9CVwV

[Tax Notes @TaxNotes]

From @StephanieSoong: Countries have made major strides in honing the definition of a digital services tax in the draft text of a multilateral convention (MLC) that requires the withdrawal of existing DSTs, according to a @USTreasury official. https://t.co/CtICFzDELV

[Bloomberg Tax @tax]

The US is eager to reach agreement on and sign a crucial part of the OECD-led international tax deal by the end of June amid a looming threat of digital services taxes. https://t.co/osUv5gsEPg

[Tax Notes @TaxNotes]

Some jurisdictions are at loggerheads over transfer pricing simplification measures under #Pillar1 of the @OECDtax's two-pillar global tax reform plan, dimming prospects of finalizing a deal in June, Italian Finance Minister Giancarlo Giorgetti said. https://t.co/UZz2h05xb4

[Bloomberg Tax @tax]

The US is eager to reach agreement on and sign a crucial part of the OECD-led international tax deal by the end of June amid a looming threat of digital services taxes. https://t.co/YRTtglISz2

[Richard Murphy @RichardJMurphy]

I like this idea, just made at a conference I am at. The whole idea of education is about making people uncomfortable. Unless education makes people uncomfortable because it creates the idea that there are things you do not know, and need to, then it is not working.

[Bloomberg Tax @tax]

US multinational companies are dissolving their overseas holding companies and reshoring ownership of their subsidiaries to delay paying the new 15% global minimum tax—perhaps indefinitely. https://t.co/XyTylbtGT2

[Bloomberg Tax @tax]

A UK mining equipment company’s lawyers told a court that the main purpose of a loan relationship with the US parent was to complete an acquisition, not gain a tax advantage. https://t.co/O4eycKpNCL

[Eurodad @eurodad]

The first substantial negotiating round of the #UNTaxConvention process ended last night. All countries reached a consensus agreement on a roadmap towards the next - and final - negotiating round, starting in July. Read our press release here: https://t.co/GkFToksKED

[Bloomberg Tax @tax]

US multinational companies may lose the ability to deduct up to hundreds of millions of dollars’ worth of losses incurred from their income starting this year under the new global minimum tax. https://t.co/HMhA3ekHtQ

[OECD ➡️ Better Policies for Better Lives @OECD]

Today marks a renewed commitment to effective multilateral solutions to shared global challenges, with the OECD at the heart of global co-operation.

Ministers have issued a joint statement at the conclusion of this week’s 2024 #OECDministerial.

Read about key outcomes ⤵️

[Markus Meinzer @markusmeinzer]

Negotiations for a #UNTaxConvention in New York have changed in tone & dynamic on tuesday. While on monday it seemed as if @OECDtax countries had teamed up to stall the negotiations by insisting on non-duplication and complementarity, the style & inputs appear more constructive.

[Tax Notes @TaxNotes]

German Minister of Finance @c_lindner wants to reduce the country’s 30 percent corporate tax rate and abolish the solidarity tax surcharge rather than introduce debt-financed subsidies like the U.S. Inflation Reduction Act did. https://t.co/JpVC1N5hKx

[Tax Notes @TaxNotes]

The Finnish Ministry of Finance on April 23 said in a statement that Finland will continue to apply provisions of its income tax treaty with Russia that the latter had unilaterally suspended last year. https://t.co/6VhonMwqIC

[Eurodad @eurodad]

1️⃣7️⃣ 0️⃣+ orgs from across 🌍have signed a submission outlining key points we expect a #UNTaxConvention to deliver, incl:
✅ Ensuring fair #tax systems
✅ Combatting illicit financial flows
✅Underlining links btw #TaxPolicies, #HumanRights & #environment. https://t.co/IeWJyMcqH4

[Tax Justice Network Bsky: @taxjustice.net @TaxJusticeNet]

Ministers, economists and NGOs speaking at a research conference in Paris today have called on #EU member states to be honest with their people about how a #UNtaxConvention would drastically improve their lives.

📰Press release on this week's conference.

https://t.co/mUeinvg0aK

[Tax Notes @TaxNotes]

New Zealand’s #Pillar2 global minimum tax rules should start taking effect in 2025 and be incorporated into law by reference to #OECD model rules and guidance, a parliamentary committee has recommended.

From @StephanieSoong: https://t.co/4Li74rSACV

[EY International Tax and Transaction Services @EYIntlTax]

#HongKong announced the 2024/25 annual Budget, including a new #patentbox regime under which qualifying income will be taxed at 5%. https://t.co/mlCWNHxLkT

[Tax Policy Center @TaxPolicyCenter]

While uncertainty abounds in international taxation, the adoption of OECD Pillar 2 could have major implications for US companies and corporate tax revenues. https://t.co/VNnUb1vY6R