US Treasury lambasts EU for targeting American Cos, undermining BEPS consensus

US Treasury releases White Paper highlighting the implications and concerns of ongoing State aid investigations initiated by EU Commission (‘the Commission’) on certain American companies; Stressing that the Commission’s actions

Aug 25, 2016

BEPS a "sticking plaster", USA a sceptical participant: UK Parliamentary Group

The All-Party Parliamentary Group (‘APPG’), a UK group chaired by Margaret Hodge, releases report on examination of  OECD’s BEPS process / recommendations and evaluation of whether BEPS project adequately address global

Aug 16, 2016

Germany publishes CbCR implementation draft, prescribes lower threshold for submitting Master File

Germany publishes draft bill for implementation of country-by-country reporting (“CbCR) and other measures against base erosion and profit shifting; CbCR obligations applicable for MNCs having annual consolidated group revenue exceeding €750m

Jun 16, 2016

China evaluates additional disclosures on intra-group services along with CbC-reporting

China evaluates additional disclosures in respect of intra-group services along with CbC reporting under its consultation draft circular “Implementation Measures for Special Tax Adjustments” released last year; Consultation draft proposes

Jun 07, 2016

UK HMRC initiates consultations on introducing secondary adjustments into domestic TP-legislation

UK’s HMRC begins consultation on introduction of secondary adjustments into UK’s domestic transfer pricing legislation; Secondary adjustments  represent an internationally recognized method to realign the economic benefit of a transaction with

May 30, 2016

India & 5 other countries sign Multilateral Agreement to facilitate CBCR automatic-exchange

6 new countries including India sign agreement enabling automatic sharing of country-by-country (CbC) reporting as part of continuing efforts to boost transparency by MNEs, bringing the total number of signatories

May 12, 2016